BitEagle 🦅5.23 Accurate Market Analysis @Everyone
Good morning, brothers. Yesterday, Bitcoin fell below $70,000.
The entire market is waiting for news about ETH's spot ETF.
It is now the evening of the 22nd (around 22:00) in the US time.
It seems that the SEC will not release the news until tonight.
At the same time, three major events occurred.
(1) Last night's Federal Reserve meeting [trapped]
Most officials said that the first quarter inflation data was disappointing.
If inflation is higher, they are willing to raise interest rates further,
which led to the opening of the US stock market and was bearish for the cryptocurrency circle.
In the UK, the overall and core CPI data for April were higher than expected,
so the UK's interest rate cut will be delayed.
The only one who said that a rate cut might be possible was the European Central Bank.
(2) The House of Representatives voted in favor of the Fit21 bill [smirk]
It will bring clearer regulation to the cryptocurrency industry
It will be beneficial to the cryptocurrency industry in the long run. Clear regulation will facilitate the access of traditional financial industries and bring in new funds, but this is a long-term event
(3) Ethereum Co-founder deposited 10,000 ETH in Kraken and prepared to ship it [poop]
BitEagle observed that the Ethereum Foundation shipped 200 ETH on May 17, and shipped another 100 ETH on May 21
In terms of on-chain data
(1) There is still a lot of BTC flowing into the exchange, and it has been a net inflow in the past few days
(2) The stablecoin of the exchange has not continued to flow in
Let's summarize yesterday's views again
Most of the basis for the approval of the ETF is hearsay, so be prepared for both situations
(1) If it passes, there are two situations
- Then ETH will continue to rise, with a probability of 40%
- After all the good news comes bad news, a correction begins. After all, this is what happened a week after BTC's ETF was approved, with a probability of 60%
(2) If it does not pass, there will definitely be a big correction
The overall trend is bearish at present. I reminded everyone to reduce their positions the day before yesterday afternoon
The current recommended position is 50%
It is not the time to buy the bottom yet, so you can wait a little longer
Whether it will rise or fall sharply depends on the news in the early morning tonight $BTC $ETH $BNB #以太坊ETF批准预期 #ETH大涨 #5月市场关键事件
