The Fed's interest rate decision was made as expected this morning, and the focus is on Powell's speech. Old hands are different, and their Tai Chi skills are indeed the stuff of a world financial hegemon. Starting in June, the Fed will reduce the scale of quantitative tightening, reducing its U.S. debt holdings from 60 billion to 25 billion U.S. dollars per month, and said that it will be impossible to raise interest rates again in the future, and there is no answer as to when to cut interest rates.

The market generally warmed up today. Bitcoin repeatedly tested the small pressure position of 59,000 points. Some high-quality altcoins rose by more than 20%, and the short-term panic in the market eased. According to the on-chain data, Bitcoin currently has no basis for a direct reversal, while altcoins are just the opposite. Most altcoins are currently at a relative bottom. After the market officially stops falling, altcoins are expected to perform better than Bitcoin after the second round of relays.

Yesterday, Bitcoin spot ETFs saw a large outflow, not only Grayscale GBTC, but also the other ten ETF products except Hashdex were in a state of outflow, with a total outflow of 9,733 bitcoins, about 560 million US dollars. Yesterday, Sanshu also said that the average price between ETFs is 57,300 points. Some investors above 57,300 points must have the mood to sell at a loss, and after bitcoin fell below this structure, it directly hit the shutdown price of Bitcoin mining machines. As the country with the largest computing power in the world, it is inevitable to ship.

Technically, the market has an unconventional double top structure. As to whether the bull market will end immediately after the decline, Sanshu gave a very clear answer yesterday. Therefore, if the market is to break through in the later stage, it is nothing more than a matter of time and volume, or more simply, how much capital is needed to pull the market up.

I have always been optimistic about the future market. After seven consecutive positive monthly lines, a major adjustment like that in April is needed. After the major adjustment, a wide range of fluctuations is also needed to bring about a certain amount of capital turnover, and some out-of-circle projects are accompanied. Only after the capital and sentiment are in place again, the market may attract a new wave of rapid pull-up behavior. Rebound relay means that it must continue to rise after the adjustment.

This year's May Day holiday was quite quiet, I don't know if it was because no one went out to play or what. Don't hesitate to buy the bottom of the short-term cottage. The bottom of the cottage is relatively certain, and there won't be a big retracement. The hardest hit are the contract players, and a large number of them will die if they just go up and fall. Of course, if you choose to be the cannon fodder of the market, you must be aware of contributing chips to help pull the market.

BTC: The intraday pressure level of Bitcoin is 69,200 points. After the breakthrough, the small high position is 60,500 points. There is still no chance of direct reversal. Sanshu tends to test upward slightly and then turn around and kill again. The structural adjustment of Bitcoin takes a long time after the previous pressure level is broken through without resistance. In the absence of absolute positive factors, it must be back and forth. When everyone loses confidence, the final reversal is approaching.

ETH: Ethereum is linked to Bitcoin again, with the daily support at 2760 points. Most of the recent bottom-fishing on the chain choose Ethereum between Bitcoin and Ethereum, probably considering the short-term cost-effectiveness. For reference only.

Finally, stay away from leverage and stock up on spot goods! ​​​#美联储何时降息？ #比特币现货ETF持续淨流出 #BTC下跌分析 $BTC