If the decline the day before yesterday was due to Israel, then yesterday's decline should be due to the macroeconomic situation in the United States. Three macro data were released yesterday.
1. Unemployment: Lower than expected, bearish
2. Initial GDP annualized quarterly rate: expected to be 2.4%, actual 1.6%, lower than expected, so it’s a positive.
3. PCE in the first quarter: expected to be 3.4%, announced to be 3.70, bearish
Inflation is still high, so the negative impact is relatively large. The core PCE for March released today is also a data worth paying attention to. After all, our bitcoin is still highly correlated with the US stock market. As for the decline of bitcoin and US stocks, as long as the expectation of interest rate cut weakens, they will definitely fall, because this rise has already priced in the expectation of a possible interest rate cut in June.
ETFs have seen net outflows for two consecutive days. On April 24, the net outflow was 1,878, mainly from Grayscale. It is worth noting that yesterday, April 25, Fidelity's FBTC began to see net outflows for the first time in three months, and the outflows were quite large. Dragon II has already started to see outflows. I wonder if the big boss BlackRock will also see net outflows in a few days? Let's wait and see.
RENZO is ready to be listed on Binance, and is currently in the mining stage. 免￥近🐍qu；嘉-巍-wuq6267；However, due to the problem of airdrop allocation, it was severely criticized by users, and the liquidity of ezETH was temporarily decoupled, and there is still a small discount. The renzo project team really didn't play well this time and ignored the power of users. If the sponsors don't serve you well, they will send you to the west at any time.
Rune seems to have a hot product $DOG, which is a dog. Cats and dogs are easy to remember, easy to recognize, and easy to pull. Naming is still very important in the currency circle. The easier the name is to remember, the better.
On April 26, Binance Megadrop was officially launched on BounceBit at 8:00 today. Users can apply for BNB regular products on the Binance Megadrop platform, complete tasks on the Binance Web3 wallet, and receive BounceBit airdrop rewards. You can get this amount, I guess no one guarantees at least 80U. The extra ones are all surprises.
Today, more than 9 billion US dollars of options have been delivered. It is a monthly delivery, and April is almost over. But don’t expect too much. Looking ahead 4 years, May is usually not a particularly good month.
Market Interpretation
After a decline last night, I think the short-term decline should be temporarily over. Judging from the 6H level we mentioned before, the right support should be here at 63,000, so I think we should not be overly bearish today. But I see that there are still many bearish people. From the magnified level, it is indeed not very good. The golden cross on the daily line failed to form. Today's PCE index is still very important. It will affect the trend of US stocks and also affect the trend of Bitcoin, so we still have to see the situation tonight.
The two cakes continue to work together
As for copycats, MEME is still a strong sector. The famous value project investor a16z is getting angry. No one wants to take over, so everyone is copying MEME. This is really an atypical bull market.
Today's Fear and Greed Index: 60 (Neutral)
In the past few days, several friends from the community came to me for psychological massage
It's hard to see the volatile market
These days are not easy for anyone, especially for long-term spot traders.
Last year, there was hype about Bitcoin ETFs, and this year, there was hype about Ethereum ETFs. It’s exactly the same script.
Wait patiently, and hold on to the quilt.
The most difficult time last year was around August. Wasn't it more desperate than now? But now looking back, how many people regret not getting on board at that time? I am very glad that I was still investing regularly during that period.
Remember one thing: we are in a mid-term bull market cleanup, provided you stay in the car.
I see some friends who are playing with new ecosystems, and they complain when their assets fall. This mentality is very bad.
Last May, because of the wealth effect of Ordi, I began to pay attention to and deeply play with the BTC ecosystem.
How is the performance in July and August?
It’s a huge loss.
I make money occasionally, but most of the first-level NFTs are losses, including the puppet that made me a lot of money later. I also bought the first-generation Opium and it was at the top of the mountain, but it was cut in half and has been at the bottom for more than half a year.
The same is true for the secondary bottom fishing of Ordi. I bought from 7u to 3u, and bought about 1% of the circulation at an average price of 5u. When it reached the bottom, the price was cut in half and traded sideways for several months.
I really want to die. None of the secondary exchanges on the primary chain are making money.
But, brothers, did you see me complain?
Still stick to your point of view:
There will be new things in every bull market, and playing in this ecosystem is definitely better than the old one. As long as this is a track-level innovation, then I firmly believe in continuing to play, and the losses and quilts are temporary, and the overall returns will definitely be good.
You all know the rest of the story:
ordi 10 times;
The inscriptions are very profitable;
ckb 3 times, and caught the seal new issue, and the secondary collection has already 4 times.
Complaining is the lowest form of complaining.
Don't be a person who is controlled by emotions
Many people I have met only see the issue of cutting and being cut, short-term speculation, and quitting when they see the good. When I say this, many people will feel hurt, but let them be hurt. The bull market is coming, and it is too late to cut, and you can only be confused.
Calm down, we are long-term players. Bitcoin plummeted. There were all kinds of voices in other groups, saying it would go to 45,000, crash, bearish shorting, etc. These are all very impetuous behaviors. There are no such voices in our group. Why?
We are all like-minded players. The pullback in the bull market is not a risk but an opportunity for us. You must understand this truth. Several friends asked me how to analyze the trend. After I told them this truth, they all felt relieved. They should cover their positions and sleep instead of watching the market nervously.
In a bull market, you should do less operations. Your mentality is very important. Let me tell you about my mentality. You should think like this: if it goes up, I should be happy, right? This shows that my decision has been verified. If it goes down, I should be even happier. Why? Because I can get chips at a lower price.
I am glad that all the friends in the group can have this consensus. I believe they are the ones who can make a lot of money. This is a mentality and cognition to make a lot of money. If you can't hold on, feel uncomfortable when there is a callback, and sell in panic, then you may need an atmosphere, a group of people with the same consensus together, so that you can go further and hold longer.
Stop complaining, summarize your experiences, and think more about your underlying logic if you believe you are on the right path.
Let the bullets fly for a while and be more patient.
Walking alone is lonely, and leeks need to walk in groups. The bull market has arrived, and everyone is welcome to join us and move forward hand in hand, so as not to disappoint this bull market and welcome the uncertain future with a certain group. I will also ambush high-explosive potential coins, bottom-fishing altcoins, and market trends in the circle.
