Market Analysis

$BTC : Bitcoin fluctuates at a high level, which is actually quite dangerous. It was pulled to around 72,500 on April 8. This is the third attempt to break through. I thought it would set a new high, but it started to fall yesterday. Obviously, the rise has become weak. The market has an expectation that Bitcoin will fall after halving, so this is also the trend shown on the market. However, this year is different from previous years. With the participation of Wall Street's main players, there will be a decline, but a sharp drop is unlikely. Every time it falls, there is a strong takeover. There is an expectation of adjustment after halving, but I don't think the amplitude will be large.

$ETH : ETH/BTC fell back to below 0.051 again. This is related to the founder of VanEck's mention that the SEC is likely to reject the ETH spot ETF in May. After all, VanEck is the first institution to apply for a spot ETF, and it said rejection, not postponement, which shows that confidence is very insufficient. However, there is a small positive news today, that is, eigenlayer's DA product eigenDAA is launched on the Ethereum mainnet. This can be regarded as a product that allows ETH to compete with $tia at the DA level. It is a good news, but it should not have much effect on ETH/BTC. After all, BTC will be halved in less than 10 days, so the market will definitely still be dominated by BTC.