BTC once fell below $61,000 this morning.

Why has it not improved? It is still due to the war and the Fed’s policy.

(1) Yesterday, Fed officials continued to emphasize that there are risks in cutting interest rates too early.

Recently, many Fed officials have been emphasizing this message, which further reduces the possibility of a rate cut in June.

(2) The Israeli Defense Minister hinted that the situation in the north may escalate.

The current negotiations between Hamas and Israel have stalled.

In order to promote peace, the United States has seized bombs that were originally intended to be sent to Israel.

Delegations from various countries are still in Cairo, Egypt, waiting for another round of talks.

If the talks can be concluded, BTC is expected to improve. Otherwise, there is a risk of falling below $60,000.

In terms of on-chain data,

(1) About 3,000 BTC flowed out of the exchange yesterday. It has been flowing in for the past few days, but it started to flow out yesterday, which is a small positive.

(2) Stablecoins have not flowed into the exchange in large quantities, which is bearish.

Not much money has flowed into the US ETF.

In the near term, it depends on whether Israel and Hamas can reach a peace agreement.

In the medium term, it depends on the Fed’s policy.

The next important data is the CPI data released on May 15 (next Wednesday). Keep more bullets to prevent negative news and buy at the bottom

I am Si Qing. If you want to know the latest information in the cryptocurrency circle, click on the avatar to find me at #灰度撤回以太坊期货etf申请 $BTC