【Black Golden (BG) 0408 Daily Report】
With just 12 days left according to the block height, the Bitcoin halving is imminent. The significance of this halving lies in the narrative completeness of the entire cryptocurrency market economic cycle, in other words, it becomes a regular pattern!
Global BTC 10:00 (GMT+8) Data
(AI Little Black)
Futures Long-Short Ratio: 60%:40% (The bears are quietly retreating)
Spot Buying-Selling Ratio: 53%:47% (Weekend trading is frequent, with slightly more buying)
BTC: The bulls suffered heavy casualties in the past few days, now attention is on the fate of the bears. Hold short-term positions and wait for around 82,000. All the dips in the next two weeks are opportunities. Don't focus on specific levels, but rather on the FOMO narrative surrounding the halving.
ETH: 3240 has become a strong support, leading to a rebound. However, the previous support level of 3460 has become a resistance after being breached. The ETH narrative is still incomplete. Therefore, if it can't quickly break through 3460 and as BTC price surges rapidly, the ETH/BTC ratio (4923) will continue to decline, possibly falling to 4350.
The US CPI will be announced on Wednesday, which is expected to continue rising. However, the core CPI is expected to decline, which basically aligns with the Fed's expectations. Therefore, there won't be downward momentum in the cryptocurrency market, and it will continue to challenge previous highs.
The gold index still correlates positively with BTC.
