CryptoExplorers says
In the early hours of the morning, Fed Chairman Powell stated that he would not seek inflation of substantially more than 2%, nor would he seek long-term inflation of more than 2%. The US economic recovery is strengthening, and labor market participation is lower than the epidemic level. In this sentence, Dow Jones and Nasdaq went straight down. Once inflation expectations drop, it will be a strong negative for all risk assets, but this day will come sooner or later, so the bull market we are in should be cherished.
Shared office Wework announced that it will accept payment methods such as Bitcoin, Ethereum and stablecoins. Beatport, the world's largest electronic music online store, will accept Bitcoin payments. At the same time, the company will also issue its NFT called "Future Dance Floor Music." Everyone should not feel this kind of news anymore, including the market, and the deeper this process is, the more cryptocurrency will enter every corner of society like money.
Gemini reports that 14% of Americans are crypto investors. I don’t know how to calculate this number, but this proportion is really not low. The next players will definitely not be Americans, but countries that react slowly. people.
South Korea’s zf crackdown on cryptocurrency fraud and CX operations will continue until the end of June. Strict supervision in South Korea will have a certain impact on the volume of cryptocurrency transactions. This is a short-term negative. After all, South Korea is too hot, and this cooling will decrease. Investor entry speed.
The SEC’s Bitcoin ETF proposal will respond to three before November. That is to say, as long as one ETF is passed before the beginning of November, it is likely to be the fuse for Bitcoin to reach new highs. Before that, the market is still controlled by Fundamentals and supply and demand relations to guide.
JP Morgan Chase analysis shows that as Bitcoin continues to fluctuate, the momentum signal will weaken. There will be many strategies to buy big pie based on this signal to lighten up, and the funds flowing into the Bitcoin fund are also weakening. Short-term correction will be difficult. reverse. The CryptoExplorers agrees with this analysis report. The first is that the institution’s desire to buy above 50,000 is very small. The second is that the continuous increase of Bitcoin is too large. It is relatively difficult to continue to yank. The third is that the group of demons has been dancing for a long time. The market will enter a relatively deserted period.
The founder of Morgan Creek said that once Bitcoin is effectively above $60,000 again, he will never see Bitcoin below 60,000. This buddy is a dead long, just listen to what he said.
The Cuban parties believe that cryptocurrency can be used as a substitute for the economic crisis. This idea is actually the same as that of Wall Street hedge funds. Everyone understands that the total amount of cryptocurrency is limited, and it is difficult for the upper level to easily dilute our wealth.
South Africa's local company once again applied for an encrypted ETF to the Johannesburg Stock Exchange. South Africa is the strongest country in Africa to play cryptocurrency. The more developed the country, the more it can accept new things. This is also the basis for the country's continued progress.
The scale of gray-scale assets has declined with the decline in currency prices, returning to $45 billion. It has increased its holdings in LTC, ZEN, MANA, FIL, LINK, and BAT, but the increase in holdings is not large and the impact is extremely limited. It is worth noting that GBTC is still discounted by -10%, but the premium of ETHE has reached 4.42%, which shows that institutions are more optimistic about Ethereum for some time in the future, which is worthy of your reference.
Market analysis
Bitcoin:
There is a big gap between longs and shorts in this position. The bulls believe that a big Yinxian has released the risk and will continue to rise, while the bears believe that the trend has been destroyed and will continue to fall. I still tends to be bearish in this position. The reason is that after the release of a big Yinxian in the past, the bulls will recover the decline in about 3-5 days, but after this fall, there is obviously a check and balance between bulls and bears. This situation is often followed by It will continue to follow the direction of trend and inertia, that is to say, the CryptoExplorers believes that the probability of a subsequent callback is still greater than a rebound, and it is not recommended to rush to buy the bottom here.
ETH:
Today is finally hard. The daily trading volume of CME ETH futures hit a record high, the number of giant whale holdings also hit a record high, and the ETH lock-up volume in Defi continues to be near a new high, indicating that institutional investors continue to increase their positions. It means that the potential of Ethereum may be greater than that of Bitcoin in the future, which deserves the attention of long-term investors. At present, the biggest problem of Ethereum is the high GAS fee, but with the development of technology, once these are resolved, then the development of Ethereum at the application level will be very rapid. This should be an important reason why most institutions start to hold positions and deploy Ethereum.
Stronger than the pie in the short term, it is expected to continue to fluctuate higher.
HT:
I made a Westarter IDO. If you don’t have HT, don’t participate. If you have HT positions, you can get a handful of wool. The continuity of this rise is not strong.
DOT:
Do not change the downward trend, wait patiently for opportunities.
XRP:
The lawyer said that the results of the April 30 conference call between Ripple and the SEC may be beneficial to Ripple. This is mainly because the chairman of the SEC has changed hands. In the short term, it is still weak and does not participate.
LINK:
Rushing high and falling, there are still too many locks on the top, and the shock is the main thing.
BCH:
Personally, I am not optimistic about BCH in this position, and I do not recommend participating.
ADA:
The high cabinet oscillates.
XMR:
The volatility has suddenly become larger recently. If it continues to accelerate, it is obviously not a good thing. Currently, it is held on the 5-day line.
DOGE:
In the past week, there have been a lot of Dogecoins that have not moved in 5 years rushed into the exchange, worth about 280 million U.S. dollars. The selling pressure can be imagined. Today, the 5th line is likely to fall below, and the callback cycle is likely to come. You can avoid it first.
CAKE:
The number of pancakeswap transactions yesterday surpassed the number of transactions in the entire Ethereum. This data is really terrifying, and it is also the basis for the recent high today. Binance’s Defi is really too 6, and CAKE is tied to BNB. The two are the grasshoppers on the same rope, the same rise and fall, the trend is still there, let's hold it first.
UNI:
Compared with SWAP on the BSC, UNI has been attracted more obviously, which is also the reason for the recent weakness. Competitive relations are changing.
There is nothing else to say. The market is facing a choice direction. In this position, i believe that the downward probability is 65%, and the upward probability is 35%. There is currently no clear direction, so the direction of least resistance is a high probability event.
That's it for today, see you tomorrow.
