In terms of macroeconomics, according to the expectations of the Fed's voting committee and the market, interest rate cuts may still be made twice at the end of the third quarter and in the fourth quarter. So according to the speculation expectations, the market may turn for the better in June and July, if it is really the first interest rate cut in September.
Bitcoin ETF had a net inflow of 28.3 million US dollars on May 29, Grayscale had an outflow of 31.1 million, IBIT had an inflow of 24.6 million, FBTC had an inflow of 17.7 million, BITB had an inflow of 11 million US dollars, and the others were very small.
BlackRock has disclosed the information of the seed investors of the Ethereum spot ETF. Analysts said that it is expected to start trading at the end of June or around July 4. Fidelity's spot ETF has also been listed on the DTCC website. At present, it depends on whether it is in order or a big wave.
Vitalik said in a post that L2 is a cultural extension of Ethereum, because Ethereum is an ecosystem centered on layer2, and you can freely build a sub-ecosystem independently to make it have unique functions and also be part of the larger Ethereum ecosystem. This sub-ecosystem is equivalent to a subcultural branch of Ethereum. I think the pure L2 is no longer effective, and it won’t work even if you shout.
The Super AI Alliance (ASI), also known as the Three Musketeers, finally has news. The token merger will be completed on June 13.
$FET is renamed $ASI, with a total supply of 2.63055 billion
The migration bridge from ERC20 $FET tokens to $ASI is opened at a 1:1 exchange rate
The migration bridge from ERC20 $AGIX tokens to $ASI is opened at a 0.433350:1 exchange rate
The migration bridge from ERC20 $OCEAN tokens to $ASI is opened at a 0.433226:1 exchange rate
As of May 28, 2024, the fully diluted market value of ASI is 60 100 million US dollars
Market Interpretation
The overall market is still volatile. It starts to fall in the afternoon and rises back in the early morning. The current upward trend line has reached 67,000, but I think the support level should be around 66,000. 67,000 is very likely to fall below once. After making a support, the big cake may continue to rise to 70,000+.
The second cake is a bit unsustainable today, and the exchange rate has begun to fall. The support level of the second cake is at 3,600+.
MEME has begun to pull back sharply. I don’t know if it has reached the peak completely or it is a normal pullback. PEPE has pulled back more than 20% from the peak. At present, there is no sign of stabilization. It is easy for a coin like MEME to fall by 30% because there are too many profit-taking orders. The support level of PEPE is 0.0 (4) around 115.
Runes are starting to rise, and DOG is leading a group of runes to rush forward. I don’t understand why the currency circle is all fighting with dogs. The big pie ecosystem has been quiet for a while. I hope it is not a flash in the pan.
Today’s Bitcoin Panic Greed Index: 73 (Greed)
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