The inflow of ETF funds is unsustainable. As expected, there was another net outflow of 11.3 million last night. The main source of fund outflow this time was still Grayscale, with a single-day outflow of 43.4 million. In addition to BlackRock, which received 14.2 million, the other institutions had symbolic inflows of several million. At present, the market funds have basically maintained a balance, with fewer buying and selling orders, including Hong Kong ETFs, with daily trading volumes of no more than 3 million US dollars. These data mean that the currency market has entered an adjustment phase. In addition, a data provider has calculated that after seven consecutive months of growth, the global encrypted trading volume fell for the first time in April, which can also confirm the adjustment period mentioned above, because the major institutions and listed companies that should have bought have already bought, and the shipments have also been sold out by taking advantage of the halving market.
As for copycats, due to the recovery of the broader market, all sectors are generally rising. The sectors with better growth are mainly the traditional three AI, RWA, MEME, and AI. As for rndr, there has been a surge in price because Apple mentioned rndr's software octane in the M4 chip promotional video, and the logo of the RNDR token was also revealed in the video. Several other similar track projects, akt, ar, wld, have also been brought up. It can be said that the entire AI sector is of the same blood and prospers together!
Market Analysis
BTC: The market got support near 61,000 yesterday, and then began to rise to a maximum of 63,300. However, from the bottom volume, it is still relatively weak. Without the increase in volume, short-term support can be ignored. In the future, I think it will continue to test the support trend with weak fluctuations. The key position that everyone should pay attention to next is around 58,000. If this position can get effective support with large volume, then it can be determined that the market adjustment is over.
ETH: ETH/BTC fell to 0.048 again. It seems that the confidence given by Grayscale will not last for a day. In fact, the blow ETH is currently facing is mainly a securities issue. This can be seen from the remarks of the founder of Consensys criticizing the SEC. The SEC has now classified ETH as a security, so if it wants to pass the ETF in the future, it must first win the lawsuit and then wash away the stigma of this security. In addition, the recent on-chain transaction volume is really small, and the user base and destruction that it was proud of before are no longer visible. In short, the probability of ETH going up in the short term is very small, but there is no problem in the long term. Even the crypto-black JPMorgan Chase believes that ETH will definitely win the lawsuit against the SEC and the ETF will definitely pass in the future.
The current market value of Bitcoin is already near the rising trend line since January 18. Once it falls below the trend line, it means that the altcoin will usher in a big outbreak period. At present, the altcoins, led by Ethereum, are the ones that deserve key layout!
The market capitalization ratio of Ethereum has also hit a recent low again. Judging from the market capitalization ratio, Ethereum is currently in an absolute price-performance range, that is, if you see Ethereum at 3,000 or below, you can buy it as soon as you see it. If you continue to invest regularly, it is only a matter of time before you make money!
Well, since Ethereum is going to rise, it will certainly lead to an explosion in the Ethereum series. Among them, the three musketeers of the LSD sector, SSV, LDO, RPL, FXS, ANKR, etc., and the L2 sector ARB, OP, STRK, METIS, IMX, MINA, etc., as well as ETC, ETHFI and ETHW, which are about to be halved, are all objects that can be focused on!
Secondly, from the perspective of rebound strength, the SOL ecosystem is still the focus of attention. WIF and SOL have both rebounded significantly. The second is the AI sector. The AI series represented by RNDR continues to hit new highs in the rebound, which is enough to attract our attention. The AI sector and the SOL ecosystem itself will have good news coming this month. We hype is the expectation of hype. It is easier to get the results we want by hyping hot projects. Therefore, when you are planning, you might as well focus on these two sectors! I personally recommend GRT and NFP in the AI sector, as well as LPT, which can be invested in for a long time until the final crazy rise!
SOL ecosystem, focusing on WIF, LINK, JTO, TNSR, and PYTH, can be deployed one after another after the unlocking of this month. In addition, LUNC can also be paid special attention!
Finally, we strongly recommend the currency: ONDO
The reasons for recommendation are as follows:
1: The technical side is too strong. When the bitcoin price plummeted, it did not fall much, and it rebounded relatively quickly.
2: It is relatively certain that the token will be listed on Binance in the future. The next unlocking will be in January 25th year, and the selling pressure will not be great.
3: The current market value of Ondo is 1 billion, compared with MKR's 2.3 billion, there is still room for growth
4: Investments from many big names including Coinbase, Wall Street, and BlackRock
5: macd daily line returns to the 0 axis, the golden cross near the 0 axis has a very strong upward momentum. The last time it rose near the 0 axis, it rose from 0.2 US dollars to 1.05 US dollars.
Overall, the current period is at an absolute historical bottom, especially for cottage stocks. Perhaps the outbreak is not far away! Every retracement and decline is an excellent opportunity to enter the market. Don’t hesitate! Just do it!
Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.