Hello everyone, I am Crypto Mubai, everyone affectionately calls me Dabai, Dabai is also the senior analyst and one of the founders of Daxigua Community Spot and Heyue Layout in the blockchain market! The winning rate is as high as over 96%!
Let's follow Dabai and take a look:
Why did Grayscale withdraw its Ethereum futures ETF application on the eve of SEC approval?
On May 7, Grayscale Investments, the world's largest crypto asset management company, withdrew its Ethereum futures ETF application submitted to the U.S. Securities and Exchange Commission (SEC).
But Grayscale did not explain the reason for the move, only elaborating that the SEC had delayed its application documents several times since it was first submitted on September 19, 2023. The regulator claimed on November 15 last year, December 18 and March 22 this year that it needed more time to review the proposal.
Grayscale's decision has sparked a lot of speculation.
James Seyffart, senior ETF analyst at Bloomberg, believes that the EFT application may just be a strategic move, using its Ethereum futures ETF as a "Trojan horse" to create a situation similar to Grayscale's win in the GBTC lawsuit (different approval results for futures and spot). Last August, the U.S. Federal Court of Appeals sided with Grayscale in a lawsuit against the SEC, accusing the SEC of approving a Bitcoin futures ETF while rejecting a Bitcoin spot ETF.
Therefore, James Seyffart wondered why Grayscale withdrew now, because the SEC must make a decision on May 23 to approve or reject at least one spot Ethereum ETF application (Note: The SEC must make a decision on VanEck’s application by May 23, and the final deadlines for ARK 21Shares and Hashdex are May 24 and May 30).
"It seems to me that it would be better to let the SEC approve or reject the ETH futures ETF first and then start from there? Maybe the SEC discussed this with Grayscale and convinced Grayscale to withdraw voluntarily? (Totally speculation)" James Seyffart added.
Recharge a wave of faith. This round of bull market means the big pie is halved, spot ETF + Fed’s interest rate cut cycle, ETF is the fuse, interest rate cut is the powder keg, but the powder keg is some distance away from the fuse, and now we are crossing this distance.
The 3-5 months after the halving are the most difficult, that is, from May to September. Be prepared for a protracted war. The price will not rise until the main force loses patience with retail investors. Patience is the watershed of wealth.
Everyone is concerned about the callback stage, but there are actually two points:
What is the magnitude of the callback?
When will the callback end?
In terms of amplitude, Bitcoin fell to the middle track of the weekly Bollinger Band at most. Then we saw that after Bitcoin touched the middle track, it quickly recovered and the weekly line closed with a needle line.
What follows is repeated fluctuations at the weekly level, and we are currently in this stage.
A few points can be determined basically:
1. $BTC The bottom of this round of callback has been determined
2. The longer BTC fluctuates between 58,000 and 65,000, the more favorable it is for the second half of the market to start!
3. The specific callback end time, at least 3 to 5 weekly K
4. During the period of volatility, local hype about copycat hotspots will continue, such as AI smart sector, game sector, meme coin sector, BTC second-layer ecological sector, L2 sector, etc.
Don't be anxious, and don't panic when you fall.
Everything is within expectations, what are you afraid of?
Maybe this is the 80/20 rule. It is always the 80% of people who panic, and there is no solution.
Today's big cake market analysis:
The market is really changeable. It rebounds, then starts to pull back, and then it goes back and forth like this! Until the interest rate cut begins, some news about ETFs stimulates the arrival of a violent bull market!
Let's take a look at the market of the big cake. After rebounding to around 64392 yesterday, it began to decline rapidly. Today, it has fluctuated by 2000 dollars to 62055! The overall sentiment is not high. Under the condition that the external situation is relatively positive, it is difficult for the main force to continue to kill. Everyone does not need to panic too much. Predict the falling position and place an order to take advantage of the rebound!
At present, the U.S. dollar has entered a downward cycle. It can be clearly seen from C2C that the U price has fallen by more than 3% from its high. Now the medium-term expectation is still to cut interest rates. As long as the interest rate cuts begin, no matter which way it goes, it will be upward. At present, as long as there is a big drop, it is an opportunity for us to continue to deploy spot goods. In addition, the effect of the halving of the bitcoin price also needs time to amplify. Reducing the selling pressure of 400 bitcoins per day will reduce a large amount of supply in the medium and long term. The outflow of Grayscale has gradually stopped. What should be left are relatively firm chips. Keep your confidence!
Judging from the market trend, it is difficult for technical analysis to produce results. We can only say that the position of technical analysis should be appropriately adjusted down considering the impact of the overall environment under the market technical analysis! There are two ways to layout the big cake contract. In a rapid rebound or decline, short at high positions and buy at low positions!
Short-term support below 61000 60000
Upper short-term resistance 64000 66000
At present, the price of Bitcoin is below 61500-61000, so you can choose to buy more! Stop loss is around 60500! Don’t be too cautious, just leave when you have almost made some profit. This market is really too volatile!
Today's Auntie market analysis:
In an exciting market, you still need to maintain a stable mentality to better judge market trends!
If your mentality is unstable, one wrong step will lead to all the wrong steps!
Dabai will share his views on today’s ETH market trend and how to plan for subsequent trends. I hope it will be helpful to everyone!
Today, the trend of Ethereum is still very weak, with the lowest intraday price reaching 2994, down more than 200 points from the high point of 3222 the day before yesterday. Long positions suffered heavy losses, and many whales began to sell their stocks! As I said before, before the interest rate cut and ETFs are passed, the market is volatile like this, and it is huge!
Even big investors cannot control this market. You should always leave yourself some room for operation. The range of 3000-2800 is generally cost-effective. It is the last hurdle for short-term bulls. The current price is already below the average price of most bulls. These people will continue to increase their holdings, so a large amount of energy is needed to kill it. It is easier to go up at present!
Layout when no one is interested. The market is generally not optimistic about Ethereum, but Ethereum is the cornerstone of blockchain. There will always be a place in the bull market, and there will be new stories. ETFs will pass sooner or later. Now is the opportunity to layout spot
Short-term support below 2900 2800
Short-term resistance above 3200 3400
At present, ETH is trending below 2950-2850. You can choose to buy more! Set the stop loss to around 2800!
Dabai recommends two currencies that can be deployed for your reference:
1. May is the day of AI!
The AI conferences of two technology giants, Google and Apple, are about to be held
Google's I/O event will be held on May 14. As a technology giant, Google's exploration and innovation in the field of AI have always attracted much attention.
Apple's developer conference will also be held on June 10. It is reported that Apple will have big moves in the field of AI this year, which makes people look forward to it.
In addition, the highly anticipated ChatGPT-5 will also be released in June and July. It is also worth looking forward to what surprises and changes this AI chatbot will bring.
At the same time, Nvidia's financial report will also be released in May. As the world's leading GPU manufacturer, Nvidia's influence in the field of AI cannot be underestimated. Apple's investment and layout in the field of AI may bring some surprising news in its financial report.
This year is destined to be a turbulent year for the AI field. Major technology giants are actively planning how AI technology will change our lives.
$WLD Current price around 5.795
Layout in spot market and take advantage of the benefits brought by AI in May!
Enter near the current price, cover the position when it falls back to around 5.6-5.3, and see above 8!!!
2.Which Meme coin do you think is better?
Amid the volatility of the broader market, the MEME sector has performed outstandingly recently. Which meme coin do you think is the best?
Which is the next hot meme coin?
The meme sector has always been one of the top five hot sectors that Dabai is optimistic about. Dabai has also mentioned the popular currencies in this hot sector many times, such as pepe, meme, floki, AIDOGE, wif, bome, etc.
The meme sector is driven by popularity, and when it comes to this sector, the growth is crazy!!!
As for meme coins, Dabai is more optimistic about Pepe, and spot trading can be deployed!
Based on the current position, it can be laid out in batches!
pepe current price around 0.0*793
Enter at the current price, and wait for a pullback to around 0.0*755-0.0*7 to cover your position, and see above 0.0*1035!
Dabai discovered a problem, a big problem that many friends are currently facing!
Some friends who had arranged spot trades near 70,000 yuan on Bitcoin some time ago, have been trapped in the recent market. Then many of them just held on to the spot trades and waited for the rebound without arranging new spot trades. It’s a mess!
This mentality is really too easily affected by the market, and directly affects one's own layout trend!
Dabai has been recharging everyone's faith. No matter whether it is a big drop or a sharp rise, mentality is very important. We must maintain a courageous attitude to move forward. Of course, it does not mean to ignore everything and rush forward foolishly!
I have talked about the method of layout of spot countless times, and I will emphasize it again today!
Every time there is a big correction, the best way is to buy the dips or increase your positions in batches!
Look at how strong the rebound was after the last big pullback. Many coins rebounded by more than 50%. But did you seize the opportunity? You can only watch!
Moreover, Dabai didn’t tell me the location or which specific coin to copy, so many friends didn’t buy in and just watched. Oh, what a headache!
When planning your spot investment, you must carefully observe whether it is a popular currency in a popular sector. For example, some junk coins may be something you have never heard of, and you don’t know where some old friends found them, but they still confidently hold on to them.
First of all, you have to understand that an analyst who has experienced many bull and bear markets, constantly observes and analyzes market trends 24 hours a day, constantly collects information in the market to judge market trends, and observes the official push and news of various currencies
Compared with retail investors, isn’t Dabai’s advantage obvious enough? Besides, after observing Dabai for so long,
Don’t you know Dabai yet?
No matter it is spot or contract, in terms of winning rate, Dabai can be said to beat not only all retail investors, but also more than 90% of analysts!
Of course, Dabai is not 100% winning rate, nor is he a blogger who always makes money. I won't pretend to be so. If you want to believe in the blogger who always makes money, please move away. This is not the place for you! Sincerity is the way for everyone to get along with each other in a friendly manner!
Many friends are saying to Dabai, Dabai, everyone says it is a bull market now, but why can't I eat meat? Where are the cattle?
Now I can tell you clearly that this is just the brewing period of the bull market. We will wash out some undecided people. When the interest rate cut begins and the ETF is approved, a large amount of external funds will enter the circle. This is the peak of the violent bull market and the time for us to exit. We will enter when no one cares and exit when everyone is talking. Become the person who eats meat silently behind the scenes!
Why hasn't the big bull market come yet? First of all, the interest rate cut has not started, the ETF has not been approved, and a large amount of off-market funds have not entered the market to bring activity to the market. When all these come, it will be a big bull market!
We must learn to plan spot transactions before the big bull market comes, otherwise, when the bull market comes, you will get nothing. When you chase high prices, it is our time to sell. We have made a lot of money, and then you start to enter the market. Just think about the scene that will follow.
Dabai has bought the bottom in batches several times, but he still has 49wu active funds left, ready to deploy some potential spot products at any time. Dabai is taking it for the long term, but if you want to take it for the short term, that's also possible. The spot products that Dabai is preparing to deploy can earn more than 50% in the short term, just like the currencies in the meme sector that rebounded this time. Dabai will take several times the profit in the long term and sell them out in the bull market.
Friends with more than 10wu in active funds, come and follow Dabai's 49wu to layout spot! Whether it is a short-term layout or a short-term layout, you can make money! But you must miss the opportunity, otherwise the opportunity will be farther and farther away from you! Go, go, go! Friends with more than 10wu!
