Is the latest pullback just a short-lived correction, or does it signal the end of the bull market?
Last Friday (May 3), the non-farm payroll data released by the United States was far worse than expected, and the unemployment rate rose. This dealt a blow to the US dollar, but brought spring breeze to the cryptocurrency market, especially Bitcoin, which rose significantly. . From a weekly perspective, Bitcoin has successfully recovered its lost ground, showing strong market resilience. From the daily perspective, although the price has corrected recently, overall, if it can break through and stabilize in the 64800-66800 range, the market is expected to rise further. However, the support level of 62,000 below is also crucial. If it falls below this level, the bullish pattern will be challenged.
Ethereum's performance is relatively weak, but it has relatively concentrated support chips near 3,000 points below, showing the strength of supporting funds. As the popularity of GPT5 rises, it is expected that cryptocurrencies in the AI field will receive more attention, and some projects such as WLD, AGIX, FET, OCEAN and RNDR are worthy of long-term holding.
Should we fully invest in the current market environment or reduce our positions on rallies? I give the following analysis:
(1) Judging from historical data, the amplitude and decline of Bitcoin were relatively large in April, so the risk of the market continuing to decline in May cannot be ignored. Investors are advised to remain patient and wait for a more suitable entry opportunity.
(2) Altcoins have generally fallen recently, but if the market falls by another 15%, altcoins may face even greater losses. At present, some currencies that are resistant to falling, such as ondo in the Rwa track, SSV in the pledge sector, bome in the sol ecology, and pepe in the meme sector, deserve attention.
(3) Although the trading volume of the Hong Kong ETF market has increased, the net outflow of ETFs has put certain pressure on market sentiment, indicating that market confidence has not yet been fully restored.
(4) The scale of U.S. debt and interest rate pressure are still huge, which will have a profound impact on the global economy and financial markets.
When it comes to investment choices, I recommend focusing on the following projects:
(1) PENDLE and SSV in the ETH ecosystem have strong background and potential.
(2) Projects such as ONDO, MKR and TRU in the RWA sector are also worthy of attention.
(3) Meme coins such as BOME, PEPE and WIF in the Solana ecosystem have performed well in the market rebound.
(4) Projects such as RUNES in the BTC ecosystem and Merlin, STX, and MERL in Layer 2 are also worthy of attention.
(5) Projects such as TAO, PRIME, RNDR and AKT in the AI field have great development potential.
(6) Projects such as RON, MC and IMX in the gaming field are also worth paying attention to in the long term. When choosing an investment project, please pay attention to the actual value of the project and the strength of the team.
Finally, although projects such as Wormhole and LayerZero in the cross-chain field have received attention, I think AXL has a greater chance.
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