【Black Golden (BG) 0425 Daily Report】
The favorable EIA oil data was overshadowed by a renewed imbalance in the Middle East, causing a sharp decline in risk assets. Both the US stock market and cryptocurrencies experienced significant declines. BTC once again broke through the lower support at 64,000, with bulls suffering another severe blow.
Global BTC 10:00 (GMT+8)
(AI Little Black)
Futures long-short ratio: 33%:67% (Bears are well-prepared and have crushed bulls once again.)
Spot buying-selling ratio: 48%:52% (Trading activity is down, but the desire to hold BTC remains strong.)
BTC: 66,500 is a critical upward resistance point, and although it has been hotly contested, it was lost at last. Subsequently, 65,600 and 64,000, two strong support levels, were also broken. BTC has returned to a downward trend and requires significant repair to turn around. Additionally, upcoming PCE data is expected to be bearish, and the May FOMC is likely to take a hawkish stance. The road to BTC's recovery remains challenging, but it's important to hold firm.
ETH: The outlook for ETH hasn't been positive during this round. Despite the hype surrounding the Hong Kong April 30 ETF initiative, the impact at the user level is limited, resulting in a slow process. Pay attention to the $3,000 level; if ETH breaks below, it will lead the broader market into a deeper decline.
Every time there's a downturn, I emphasize holding firm. Downturns driven by sentiment are typically short-term adjustments, so stay resolute.
