Bitcoin is fine, but altcoins have fallen sharply. Why?

Bitcoin is strong, but altcoins are falling! Global risk aversion is high, gold and the US dollar are rising simultaneously, and the market is volatile.

Since the end of March, Bitcoin has been strong, while altcoins have generally fallen. The main reason behind this is the reduction in the inflow of funds into altcoins, while Bitcoin is supported by funds from ETFs. At the same time, global risk aversion is high, and gold and the US dollar are rising simultaneously. Central banks of various countries have begun to sell US bonds and increase their holdings of gold, showing a confrontational attitude towards the hegemony of the US dollar.

The Federal Reserve plans to slow down the reduction of its balance sheet, and the growth of the balance of the Treasury's TGA account has exceeded expectations, which has eased market concerns about liquidity to a certain extent. However, in the medium and long term, the US debt crisis has not been resolved, and it is necessary to pay close attention to changes in the bank reserve ratio. The US economy is strong, but expectations for interest rate cuts have been adjusted. The market expects that interest rate cuts may be postponed to the second half of the year or even next year. The market is volatile before the election, and liquidity policy has become the focus. The Federal Reserve will try its best to maintain economic growth and ensure sufficient market liquidity.

Driven by ETFs, Bitcoin and Ethereum have shown large gains, but the market surge still requires the Federal Reserve to significantly increase liquidity. Looking forward to the future market trend, let's pay attention to the performance of Bitcoin and altcoins.

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