Today is the last day of April, and tomorrow is the May Day Golden Week that people are looking forward to.
Let's talk about the market of the three golds: Grayscale currently has about 300,000 Bitcoins, which is half of the peak 600,000. Although the outflow rate has slowed down, it is still being sold. The reason is the high handling fee. Secondly, most of Grayscale's chips are accumulated in the previous cycle, the cost price is very low, and there is also a need to cash out. Previously, BlackRock continued to take in chips, and many of them were thrown out by Grayscale. In essence, BlackRock dragged up the price of Bitcoin, but in recent days, BlackRock's inflow has slowed down, and Bitcoin is unlikely to improve in the short term. Unless the macro level improves, the supply and demand balance after Bitcoin is halved, the price is estimated to take some time to play a role.
Let's talk about Ethereum. The exchange rate of Ethereum to Bitcoin has risen in the past two days. K God has been emphasizing recently that Sun is building a large position in Ethereum. Regardless of whether it is finally approved or not, at least large funds are coming in.
Then we need to re-examine whether the Ethereum spot will really be approved in the end, in May or June? It is not impossible. Funds are sometimes very sensitive. According to the last round of cycles, the sharp rise of Ethereum also occurred in the second half of the bull market. Calculating the cycle, it is also in the second half of the bull market. Everyone should pay attention to this. If Ethereum can continue to rise and drive the rise of the cottage, then the cottage season may begin.
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