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1. Expect volatility tomorrow as $6 billion worth of options expire on the last Friday of the month. A small pump to 68k is possible right after.
2. Recent GBTC outflows exceeding inflows, including IBIT turning into an outflow yesterday, suggest selling pressure. Contrary to rumors linking it to the Middle East, the real reasons include the Fed's hawkish stance due to uncontrollable inflation and geopolitical risks like aid sent to Ukraine, Israel, and Taiwan.
3. The Biden administration's proposal to tax crypto gains at 45% may cause concern, but it's unlikely to pass. Real sellers are average investors shifting back to traditional assets like Gold amid economic and geopolitical tensions.
4. May will see BTC fluctuating between 60k and 70k due to manipulative tactics targeting weak hands. However, long-term believers anticipate a new ATH post-May, with any drops likely limited to around 50k, hinting at a stronger bull rally in June.
5. Short-term analysis indicates a reversal in BTC's downtrend, with potential for a bounce to 66k over the weekend. Failure may test the 60k support before attempting a move towards the 68k pivot next week.