Yesterday, ETF institutional data totaled a net outflow of US$326 million, and the outflow rate rarely accelerated. The most noteworthy among them is that the outflow volume of Grayscale GBTC is as high as 443.5 million U.S. dollars, while the inflows of BlackRock IBIT and Fidelity FBTC are 74.4 million U.S. dollars and 36.9 million U.S. dollars. Affected by the continued net outflow data, Grayscale CEO made it clear today that it will reduce the fees of the Bitcoin ETF in the next few months.

Uncle San believes that it is appropriate and necessary for Grayscale to reduce costs at present. Regardless of GBTC data, some ETFs, including BlackRock, have been experiencing net inflows of funds, indicating that retail investors remain relatively open and willing to participate in the crypto market for the time being. The high fee rate of GBTC is one of the core reasons for its continued net outflows. After the fee reduction of GBTC, Sanshu believes that a new round of fee reduction competition among institutions will also begin, which will lead to further strong entry sentiment among retail investors.

The Federal Reserve's interest rate meeting was held at 2 o'clock in the evening. I got the time wrong yesterday. In terms of conclusion, it is expected that there will not be much error and the current interest rate will be maintained. The only focus is on Powell's remarks after the meeting. If the hawks speak, it may cause the market to continue to decline. Otherwise, the market may stop falling in advance.

From a technical perspective, the current pie definitely has not bottomed out, and there is no clear signal indicator as to which bottom level the pie can reach. However, judging from the volume, after the market dropped to 60,800 points yesterday, the downward momentum has obviously weakened. Therefore, if the market continues to decline in the future, there is a high probability that the market adjustment will be temporarily triggered by the negative remarks to end this cycle.

So regarding the topic of buying the bottom, Sanshu’s opinion has always been: buy small when the price drops, and buy big when the price drops big. The initial decline or plunge of Niu is a benefit to those who are short-term. Instead of pursuing the high with FOMO when the crowd is buzzing, it is better to lurk silently where no one cares. Even if the market continues to decline, how much room will there be?​

The market situation in the next quarter will definitely be super dramatic, with the macroeconomic mix including the halving of the pie and the approval or failure of the Ethereum spot ETF at the end of May. In the industry, the HK Carnival in April, the European Cup in June, and the L2 sector ecological tokens have been gaining momentum since the launch of the Cancun mainnet in the early stage.

Many friends left messages or came to Sanshu to ask which sectors they could buy at the bottom. At this stage, there are still too many high-quality sectors. Extending the timeline, only a few currencies such as Big Pie have reached new highs in the bull market process. Therefore, among the choices that can be purchased, L2's ssv, arb and op are still the first choice, HK sector's cfx, ach, mdt, fan currency sector chz, flow, city, etc.

Let’s talk briefly about L2. OP and arb after Cancun undoubtedly performed very poorly, but from the perspective of understanding the project and the later ecological development, the current activity of several L2 chains has surged extremely quickly, and they are all increasing at a rate of 100%. , everyone has also seen the unlocking of arb's daily volume in the past few days. In fact, the market crash was not serious, and the market's decline was more due to the linked decline caused by the decline of the pie. Previously, after the adoption of the Bitcoin spot ETF, it also experienced a period of selling that was favorable for its implementation, and then there was a long-term rebound in the market. It is expected that the entire Ethereum ecosystem will follow the same path. Today, the entire L2 sector has taken the lead and started to move. When the market stabilizes, it is expected that there will be a new round of breakthroughs.

The meme wave has really subsided now. After everyone regained their rationality, the discussion on market development has returned to the social field. The biggest market winner after this round of memes actually belongs to Inscription. The private placement withdrawal data of the Solana chain in the past week has reached a historical high. Except for a few tokens that we are familiar with, there are countless people who directly collected the money and ran away with the money. The model of retail investors collectively sending money to a project party, expecting the project party to allocate chips, and make a fortune together, has undoubtedly turned the tables on history now that the extremely fair currency distribution model of Inscription has emerged.

The discussion of this topic has been very strongly recognized on X. The consensus of retail investors should belong to the retail investors themselves. Only a truly fair mapping model and project operation logic without interference from a single third party are the memes that everyone is most looking forward to. For the same coin that has no market application or value logic, at least if you hit it with the inscription, you can get the coin. However, it is really not certain that these projects have been launched recently. Look forward to the second spring of Inscription Market!

The market greed index fell temporarily, and the enthusiasm subsided temporarily. When the market is not going well, sort out your positioning ideas and make preliminary ambush for high-quality sectors at the same time. In a period of market conditions, we cannot buy at the bottom, nor can we sell at the highest point. A very nice band in the middle is enough!

BTC: The technical side of the pie started to rebound after it touched the lower Bollinger Band of the daily line. From the technical logic, this trend is too regular and does not conform to the trend that the pie has always started with a new round of market. For a healthy decline, it is best to test the needle below 60,000 points. Of course, whether it is going up or down now depends on the overnight meeting on the one hand, and on the other hand, the technical correction status tomorrow. In terms of time, in the past two days, the market will have a new round of bottom turning points. There is nothing to say about the position of the big pie, just hold it and take it.

ETH: Ether has been replenished by 10%, so I won’t pay attention to it in the short term.

The key articles on the sectors where you can buy the bottom are mentioned. Add a 2-layer pie, ssv and op, which are mainly recommended by the community, and some public chains near, avax and sol (for example, the carnival HK conference in mid-April will definitely be hyped) , the European Cup fan coins part in June is also full of opportunities)

Finally, stay away from leverage and stock up on spot stocks! ​​​#热门话题 #sol #BTC #ETH $BTC