Market Perspective: Dynamic Analysis of Bitcoin and Ethereum and May Day Holiday Suggestions
Recent market dynamics show that the amount of Bitcoin held by Grayscale is still flowing out, although the outflow rate has slowed down, it is still continuing. One of the main reasons is the high handling fees. On the other hand, most of the chips held by Grayscale were accumulated in the previous cycle, and the cost price is relatively low, and some investors have the need to cash out and leave. In addition, the recent slowdown in the inflow of BlackRock has also affected the price of Bitcoin to a certain extent. Therefore, it is unlikely that Bitcoin will improve in the short term unless the macroeconomic conditions improve and the supply and demand balance after the halving will take some time to play a role.
Turning to talk about Ethereum, the exchange rate of Ethereum to Bitcoin has started to rise recently. There is a view that Sun Yuchen is building a large position in Ethereum, which has also brought large funds into the market. Although it is not yet certain whether the Ethereum spot ETF will be finally passed, it can at least be seen that the market is optimistic about Ethereum. According to the previous cycle, the sharp rise of Ethereum often occurs in the second half of the bull market. Considering the current market cycle, we may be close to the second half of the bull market. If Ethereum can continue to rise and drive the rise of altcoins, the altcoin season may be coming soon.
In addition, the May Day holiday is coming, and investors are advised to relax appropriately and not pay too much attention to market fluctuations. It is also very important to add some color to your life and enjoy the joy of vacation. Remember to plan your investment reasonably, don't ignore the important dynamics of the market because of the holiday, and maintain proper attention, which will help to better grasp the changes and opportunities in the market. #BTC #ETH #OAX #waves #GLM $OAX $WAVES $GLM