Bitcoin has just experienced a halving. After the supply is halved, it will take some time for the demand side to appear. The strong demand side is the driving force behind Bitcoin's continued rise. From the past three cycles, Bitcoin's price has experienced a year-long spiral rise after each halving event. This round of Bitcoin's fundamentals has added ETFs, which has greatly pushed Bitcoin forward. Its influence around the world is wider and covers more people. Taking BlackRock as an example, it has been a net inflow for 70 consecutive days, and the total holdings will soon exceed Grayscale.

Will the Fed cut interest rates to the left or right? The PCE inflation data released this Friday is particularly important. Brother Nan believes that it is likely to meet expectations. The rebound in the overall CPI data released last week may also be temporary. Although most mainstreams currently believe that it is impossible to cut interest rates in June, there are still two interest rate cuts this year, and the probability of a rate cut in September is very high.

The negative decline before the Bitcoin halving has been realized, and the next step is to realize the expectation of falling inflation. Both Israel and Iran are currently downplaying the incident and do not want to make a big deal (the United States may have played a key role in the middle). It can be said that unfavorable factors are being realized one after another, and market pressure has been relieved. Bitcoin is still fluctuating upward, pay attention to the support near 66,000 and the resistance near 68,000. Ethereum resistance is 3,300 and support is 3,150. The previously recommended BONK has also doubled. The altcoins will rotate back and rise again. Be patient and hold the currency.