Brothers, this is incredible! There is a big news, Bloomberg analysts predict that the Ethereum (ETH) spot ETF may be officially launched on July 2. This is not just a random statement, Bloomberg analysts are quite professional in the industry, and their predictions are always very accurate. Maybe we can really see the Ethereum ETF officially listed in early July!
Market Dynamics: The Ups and Downs of Bitcoin and Altcoins
Yesterday, due to the negative impact of the Mentougou compensation incident, Bitcoin (Bitcoin) was attacked by short sellers and fell to around 58,000. However, the altcoins have fallen to the bottom and rebounded from oversold levels, successfully driving Bitcoin back above 60,000. However, judging from the trading volume, Bitcoin's rebound is very weak and it is difficult to resume its upward momentum in the short term.
Net inflows of Bitcoin ETFs
Yesterday, Bitcoin ETF finally saw a net inflow, although it was only $31 million, but this is a good sign, indicating that funds in the Western market have begun to move. As we all know, this round of bull market was started by Bitcoin spot ETF attracting external funds, and the current sideways fluctuations are also due to the lack of liquidity caused by the stagnation of subsequent funds in ETFs.
Future key events
1. Yitai spot ETF is listed
There are two important events that will break the pattern of the entire crypto circle. The first one is of course the listing of the Yitai spot ETF. Once the Yitai ETF starts to operate, external funds will be attracted in. It is expected that the inflow of funds will be between 3 billion and 5 billion US dollars in the first five months of the listing of the Yitai ETF.
2. The Fed cuts interest rates
The second key event is the Fed’s interest rate cut. The earliest possible rate cut is in September, and no later than November. Once the United States enters a rate cut cycle, market liquidity will increase significantly, and safe-haven assets will flow into the crypto market, triggering a new round of bull market climax.
Current Market Opportunities
Although all this seems far away, Uncle Yang wants to tell you: the market really does not leave us much time to make arrangements. If we cannot seize the opportunity to make arrangements in every round of pullback, then this round of bull market will only leave you with a deficit account.
Key data to be released soon
At 8:30 tomorrow night, the US first quarter core PCE price index will be released. If the PCE index shows a decline in inflation or a weak labor market, accelerating the time for interest rate cuts, this will be good news and the market will inevitably rise sharply. Otherwise, it may fall sharply. It can be said that tomorrow night will be another big test.
If Bitcoin can hold the support level of 60,000, then there will be a good rebound in the market, especially for the altcoin sector which is currently at a low level, which can be said to be an excellent opportunity to enter the market.
To sum up, the upcoming launch of the Yitai spot ETF and the possible interest rate cut by the Federal Reserve will become the two key factors affecting the crypto market in the coming months. Now is the best time for us to seize the opportunity and layout!
