Li Lin Moves Private Trading Business to Bitfire Group
- Business Transition: Li Lin is moving part of his private trading business to the Hong Kong-listed Bitfire Group for $1.6 million, marking a strategic shift towards bitcoin-linked wealth products following the sale of his controlling stake in Huobi.
- Bitcoin Asset Management Launch: Bitfire plans to introduce a regulated bitcoin-denominated asset management product called Alpha BTC, aiming to attract over 10,000 BTC in assets within a year, which would equate to approximately $760 million, reflecting confidence in the demand for bitcoin-linked derivatives.
- Client Base Potential: Bitfire estimates that at least 40 Hong Kong-listed companies currently hold bitcoin, creating a potential client base for wealth and treasury products tied to digital assets, especially as these firms seek regulated structures for managing their holdings.
- Connection to Hong Kong Market: Li Lin remains connected to Hong Kong-listed crypto-related companies, reinforcing his influence in the digital asset finance sector and indicating that he is actively participating in the public market rather than solely through private entities.
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Technical Analysis for BASED
Technical Sentiment Analysis for Based (BASED). As of , Based (BASED) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BASED stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BASED is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Based (BASED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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