Today is a bit weird. Bitcoin and Bitcoin haven't moved much, while the altcoins are all falling sharply. Moreover, all signs indicate that Bitcoin rebound sentiment is hot! This may be a good time to buy the altcoins at the bottom. After the news of the ETH ETF was released, the BTC price hit a strong liquidity area of ​​about $71,500, which is another trap set by market makers. Despite this, the bulls have managed to maintain the price above the support level of $67,241, showing a strong bullish trend. The overall market environment looks very solid, which may support further price increases and even set a new all-time high (ATH).


Now that the monthly close is around the corner, volatility may increase slightly, but the impact on Bitcoin (BTC) prices should be limited. Volumes remain below expectations as traders are uncertain about the upcoming trend. Therefore, a bullish close for the month could spark a strong rally until the semi-annual close.


Data shows that buyer demand has returned and the Bitcoin market has returned to the hoarding mode. An important indicator is that BTC spot ETF funds have been in a state of outflow throughout April.


Starting last week, ETF funds began to see net inflows again, reaching an astonishing $242 million per day, indicating that buyer demand is back on track!


In addition, both funds under BlackRock bought IBIT issued by BlackRock in the first quarter. IBIT currently holds a total of 288,670 BTC, surpassing Grayscale's GBTC holdings. Currently, as many as 414 institutions have invested in IBIT and are entering the market one after another. This is a good signal!




Next key date: June 12


With the next release of CPI data scheduled for June 12, we expect Bitcoin spot ETF inflows to remain strong over the next two weeks, which should help Bitcoin reach new all-time highs.


The small decline in the price of Bitcoin comes as the market expects inflation to disappoint again on May 15th. When modeling inflation over the next two months, we may see inflation hovering around current levels and trending downward soon. If inflation indexes to 3.3% or lower, the price of Bitcoin should set new all-time highs.


This will continue to provide "some motivation" for Bitcoin spot ETF investors to allocate Bitcoin and support Bitcoin prices.


Who will be the next 10x Pepe?

The current market value of bome is around 1.03 billion.

Let's talk about what you guys are concerned about. When will the stock price rise more than 10 times like Pepe did in February and March this year?

Two months have passed since the Binance listing. In these two months, you can carefully observe whether the daily and weekly charts of BOME are almost the same as the previous trend of pepe after the Binance listing, except that there may be some discrepancies in the time. For more than a month, it has been a shock wash. It is necessary to clean up the profit-taking in the three days before listing on Binance and reach a new price consensus.

Why compare the two? Because their market-making techniques do have many similarities.

Looking back at the listing of pepe on Binance, the washout, and the subsequent surge, it basically followed the pace of BTC. The same is true for BOME now. When BTC falls, BOME also falls; when BTC rises, BOME also rises. So this is why I said before that we should learn to improve our understanding of BTC. Because we all depend on the face of the big pie.

The previous low point of bome was in the range of 0.0072-0.0082 (the market value at this price is about 420 million). Those who have bought this bottom must be happy. Now it has risen. Those who didn’t buy it must be asking whether it will reach this range or even lower in the future.



As mentioned before, it depends on the market sentiment. Will BTC continue to fall in the future, such as retesting 56,500 or even lower?

As mentioned in the previous article, the sentiment in May is still good, because it is still a period of suspension of interest rate hikes. For the market, the biggest turning point is the interest rate cut. I have answered the impact of the interest rate cut before. This affects sentiment and money. Everyone just needs to pay attention to ETF data and capital inflows.

The biggest black swan is the US economic recession combined with other events that affect panic. It may bring about drastic market fluctuations. Of course, it is unpredictable at present, so we have to pay attention. If panic spreads at that time, ETFs cannot cover the bottom, and the liquidity of funds cannot keep up with BTC, then BOME will usher in a return to value again.

Now that we have discussed the possible bottom, let's talk about when the price will rise. It will have to rise more than 10 times.


We only look at one thing, that is the trading volume. Trading volume cannot deceive people. Generally, the daily trading volume increases and breaks through the previous downturn. It will not stop quickly, but start naturally. That is the real rise.

You can look at the performance of the trading volume when Pepe was pulling the price up tenfold, and then compare it with the current Bome.

At the same time, in addition to trading volume, we also need emotions brought by the rise of BTC. If it rises 10 times, we need emotions brought by the new high of BTC. Now it can only be regarded as a wide range of fluctuations. After all, the trading volume is clear at a glance. It is the most practical and reliable. The trading volume cannot deceive people. If the volume shrinks and rises, it will not be sustainable.

Of course, if these conditions are met later, the sentiment is good, the chips are cleaned up, and the daily level also sees a large-scale rise, can it rise more than 10 times as expected like Pepe? This is unpredictable. After all, I am not a market maker, and no one knows how much it will rise. I can only pay attention to the current market sentiment, trading volume, funds, etc. at that time to make a judgment.

The only thing that can be used as a reference for the same track is that in March when BTC was above 70,000, the highest circulating market value of the meme sector rose to over 5 billion, such as wif; pepe 7 billion; floki just over 3 billion. Bonk is around 3 billion, etc. You can pay attention to these ceilings.


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