A quick look at this week’s highlights

🍕Cryptocurrency Market Overview

1. Coinbase earnings beat expectations

- Revenue in the first quarter reached US$1.64 billion, a year-on-year increase of 113%.

- Net profit was US$1.18 billion, turning a profit year-on-year.

2. Bitcoin market dynamics

- The computing power continues to remain at a high level, and the mining difficulty continues to increase.

- GBTC experienced net inflows for the first time, the largest since March 26.

- The CME futures market reduced record net short positions last week.

3. Institutional investor news

- Fidelity, BlackRock, etc. are in contact with pension funds and other institutions.

- Well-known European institutions disclose BTC holdings.

🍕China Market and Investment Strategy

1. Fund flow

- China's market risk appetite has increased significantly.

- EPFR China's capital inflows turned positive, hitting the largest net inflow in eight weeks.

2. Future prospects

- The macro data this week is relatively light, and the rally may continue moderately.