#内容挖矿 In the market in the past week, the prices of Bitcoin and Ethereum both fell on April 30. It is particularly noteworthy that the historical volatility also reached its maximum on this day. In addition, trading volume was most active during the Federal Reserve's interest rate meeting, while open interest showed a slight upward trend. In terms of implied volatility, both Bitcoin and Ethereum have declined compared to the beginning of the week. Funding rates continue to remain at a low level, reflecting the continued sluggish sentiment in contract trading. At the same time, market breadth indicators show that the overall market is still in a weak stage.

In terms of events, the Federal Reserve ended its two-day interest rate meeting on Wednesday (May 1) and decided to maintain the target range of the federal funds rate at 5.25% to 5.5%, which was in line with market expectations. Federal Reserve Chairman Powell said that although inflation data so far this year has not given Fed officials enough confidence to take interest rate cuts, the possibility of future rate hikes has been ruled out.

The market responded positively to Powell's dovish stance, resulting in a drop in U.S. Treasury yields and a strong rise in U.S. stocks. Bitcoin once surged during the meeting, but then fell back and stabilized.

In the past week, only 4.7% of the 129 selected currencies were above their 30-day moving average, while 35% were above their 30-day moving average relative to Bitcoin. At the same time, 3.1% of the currencies rose more than 20% from their lowest price in the past 30 days, while 4.7% of the currencies fell less than 10% from their highest price in the past 30 days. These data further prove the overall market weakness shown by the market breadth indicator.

In summary, the recent price declines of Bitcoin and Ethereum, the increase in historical volatility, the peak in trading volume at the Fed's interest rate meeting, the slight increase in open interest, and the decline in implied volatility and funding rates all reflect the weakness of the market and the sluggish trading sentiment. At the same time, the results of the Fed's interest rate meeting and the high and fall of Bitcoin during the meeting also brought new dynamics and challenges to the market. #美联储何时降息？ #BTC走势分析 #BTC