【Black Golden (BG) 0416 Daily Report】
The significant drop in the US stock market responded to several negative factors, especially with financial-related stocks leading the decline. The 16th is a crucial moment for the bull-bear transition, but the morning performance was poor, affecting the overall trend for the day. If the US stock market does not rebound today, the recovery period for BTC will become prolonged, and the concept of the completeness of the halving narrative mentioned in the April 8 report will also be impacted.
Global BTC 10:00 (GMT+8)
(AI Black)
Futures Long-Short Ratio: 22%:78% (Significant short pressure)
Spot Buying-Selling Ratio: 32%:68% (Institutions selling in small quantities, retail investors increasing selling)
BTC: Still influenced by the situation in the Middle East, trading sentiment is bearish. However, there have been no real negative fundamentals in the macroeconomic environment. Stay calm and wait for a reversal. We need a chance, perhaps we can look forward to Powell's speech.
ETH: The ETH/BTC ratio is still rebounding, so ETH leading the decline drives BTC's downturn. BTC will only break out when ETH stabilizes. Net outflows are mostly in ETH and altcoins, with actual outflows in BTC not significant.
The approval of the Hong Kong ETF may not bring short-term benefits, but in the long run, it will attract funds from the Asian region, especially family offices and funds. The Asian region has a habit of long-term savings and financial management. Over the next 3-5 years, ETFs are expected to attract $200 billion in inflows.
