Fundamentals:
The U.S. CPI in April increased by 2.3% year-on-year, lower than the expected value of 2.4%. Traders have increased their expectations for a rate cut by the Federal Reserve, continuing to suppress the likelihood of the Fed's first rate cut in September. The probability of the Fed maintaining a zero interest rate in June is 91.8%.
Trump: Congress is about to pass the largest tax cut bill in history.
The U.S. SEC has postponed its decision on BlackRock's Bitcoin spot ETF redemption and has delayed proposals for SOL and Dogecoin.
Technical Analysis:
BTC: The daily chart has recently formed a clear high around the 105 level. Yesterday, under the favorable CPI data, Bitcoin touched the 105 level again but did not set a new high. The recent rise in Bitcoin has shown significant weakness, with multiple pin bar formations on the daily chart indicating that the market has entered a phase of adjustment. On the 4-hour chart, a clear high has formed at the 105 level, and two large bearish candles have emerged, with the K-line showing a downward trend. The strong support for Bitcoin in the short term is at the 98 level. For intraday operations, pay close attention to the resistance at the 1045-1055 level above and the support at the 1015-1005 level below!
ETH: Recently, there has been a surge in interest, and the overall daily trend remains bullish, significantly stronger than Bitcoin's performance. However, the daily K-line has shown multiple pin bars, leaving long upper shadows, indicating that there are clear signs of profit-taking in the 2600-2800 range. The chips bought below 1800 points have gained over 40%, and some have taken profits, leading to a slowdown in the overall rise and a significant pullback. In the short term, Ethereum is expected to undergo a phase of adjustment, possibly forming a new bottom around the 2350 and 2280 levels, which is yet to be tested. On the 4-hour chart, after a significant surge past 2700 points in the early morning, it has entered a phase of high-level consolidation for 6 hours and has begun to pull back. The 4-hour chart has currently formed two consecutive bearish candles and still requires further adjustment. For intraday operations, pay close attention to the resistance at the 2660-2700 level above and the support at the 2580-2540 level below.
Altcoins: Bitcoin has entered a high-level adjustment phase, showing weakness at the top. While Ethereum is rising strongly, the corresponding pullback has significantly expanded, leading to a reduction in the overall gains of altcoins, indicating that the market is awaiting a phase of adjustment to form new buying opportunities at the bottom. This morning, we have made corresponding direct actions to secure profits, reserving a small position to hold for further gains, especially as some coins with significant increases have been fully liquidated, preparing for the next buying opportunity!
He Yue: The positions in ETH, NEAR, ETHFI, OP, ARB, RSR, EOS, XRP, etc., laid out a week ago, have been managed, except for EOS, which is still held, waiting for today's brand renaming opportunity and the old turtle XRP. All have been directly managed, and the floating profits are virtual; only what is in the pocket is real. For contract operations today, pay attention to the points in the analysis report above.
The cryptocurrency market is highly volatile; proceed with caution. This is a personal opinion, not advice, for sharing purposes only.
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