Market Analysis

$BTC : Bitcoin received a short-term support near 62800 last night, but it is still a bit weak. At present, the market is trading time for space and slowly adjusting in a weak position. Yesterday, the purchase of BlackRock ETF also stagnated. So far, everyone still likes meme, whether it is meme on sol or various runes on runes, everyone is having a lot of fun. As retail investors, they should participate more. Behind meme is actually a short-term consensus. Of course, long-term consensus still depends on the joint efforts of all parties, such as exchanges, etc.

$ETH : With Reuters reporting that the SEC will reject the Ethereum spot ETF in May, and then the reaction of consensys directly suing the SEC, this ETF is likely to be completely defeated, and Grayscale's ETHE negative premium continues to expand to 24.17%. However, the market performance is not as bad as the news. The support near 3100 points is still very strong. This should also be related to the recent continued weakness of ETH. The current price may have included the rejection of the ETF. Moreover, whales such as Brother Sun are still continuously increasing their positions, perhaps trying to turn bad news into good news. After all, even if the ETF issue cannot be resolved in May, it will be resolved in the future.