Analysis shows: Bitcoin has a small correction, and the upside momentum is insufficient.

At 8:00 on October 16th, Beijing time, the ChaiNext 100 index, which reflects the overall trend of the cryptocurrency market, reported 736.10 points, down 2.86% in the past 24 hours, with a turnover of 34.462 billion US dollars. The turnover increased by 3.88% compared with the previous 24 hours. Among the 18 rises and 82 declines; the ChaiNext 5 index, which reflects the performance of the blue-chip cryptocurrency, reported 651.76 points, down 2.87% in the past 24 hours, with a turnover of 28.484 billion US dollars, an increase of 2.77% over the previous 24 hours; the Bitcoin Bubble Index ( The BBI index is at 82.05 points, down 0.90% in the past 24 hours; the USDT OTC Index is at 100.13 points and has risen 0.02% in the past 24 hours. Bitcoin's small correction yesterday, continuing the recent decline in the market, but no breakthrough in the key resistance position, still maintain the shock range, the subsequent increase is hindered by the lack of market funds after 9.25. Other mainstream currencies failed due to yesterday's high test, and most of the linkages have a large correction. In the near future, it is still dominated by bitcoin, and Ethereum has the potential to perform strongly.