Recent Market Review

On May 12, Bitcoin first reached a high of $105,720, then quickly fell back, with a daily drop of 4.7%, marking the largest single-day pullback in nearly three months. Over the course of 24 hours, the total liquidation amount across the network exceeded $384 million, with 144,000 people being forcibly liquidated. From May 8 to 11, Ethereum performed strongly, rising over 40% within 72 hours, from about $1,811 to a peak of $2,600, achieving the most remarkable three-day increase since 2019.

Real-time Market

As of now (specific time not clarified, but on May 13), according to data from some platforms, Bitcoin is experiencing certain price fluctuations. Previous data indicated that the trading price of Bitcoin was $100,750, down 4% from the previous day, but it found temporary support at $101,000. The area around $106,000 is a resistance zone, and the selling by long-term holders triggered a programmed trading stop-loss mechanism, exacerbating the price decline.

Factors Analysis

• Macroeconomic Aspect: The Federal Reserve's interest rate cut in May has raised market concerns about subsequent CPI data. If inflation rebounds and the dollar strengthens, Bitcoin's price will be under pressure. Additionally, the suspension of mutual tariffs between China and the U.S. has led to a capital flow back to traditional stock markets, with Bitcoin's correlation to the S&P 500 reaching as high as 83%, causing it to follow the rhythm of traditional stock markets.

Technical Analysis

After a continuous rise, the market experienced a significant pullback yesterday, with Bitcoin dropping from a high of $105,863 to around $100,678, a decline of about $5,000. Ethereum fell from $2,622 to $2,406, dropping over 200 points. The higher the price, the greater the divergence between bulls and bears, leading to more intense price fluctuations. Currently, the trend is moving from high to low, with the Bollinger Bands narrowing, indicating a gradual shift towards consolidation. We need to pay attention to the support levels below: Bitcoin at $101,600 and Ethereum at $2,420. If these supports hold, the consolidation will end, and prices may rise again. On the upside, we are looking at Bitcoin's resistance at $103,000 and Ethereum's at $2,480. A breakthrough at these levels would increase the upward trend. We are currently focusing on these key levels for potential breakouts.

Trading Suggestions

For Bitcoin, it is recommended to go long near $101,600 with a target of $103,000.

For Ethereum, it is recommended to go long near $2,420 with a target of $2,480.

There are many types of investments, and choosing the right one for yourself is very important. There are many paths, and selecting the right guide is crucial. I am Gu Yue, interpreting global economic news, analyzing global investment trends, and providing daily market analysis to offer you the latest trading strategy ideas and professional investment consulting services to help you reach the peak of financial management.

This article represents personal views only and is for reference only, not to be used as a basis for actual operations. Market conditions are unpredictable, and profits and losses are at your own risk. For the latest trading strategies, follow the public account: Gu Yue KOL.

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