Recently, former U.S. President Trump’s change of stance on Bitcoin has attracted widespread attention from global financial markets. He has made it clear that he supports the development of Bitcoin and has taken a series of measures to promote the further extension of digital currencies. This statement not only injected new vitality into Bitcoin and the entire cryptocurrency market, but also triggered extensive market discussions on the future development path of digital currencies. Yesterday, Bitcoin price reached significant highs near $69,000. This price level not only demonstrates Bitcoin’s recognition of its value as “digital gold”, but also reflects the market’s optimistic expectations for its future growth potential. However, the market is always full of volatility and uncertainty, and Bitcoin prices subsequently experienced corrections and adjustments. This phenomenon is not uncommon in financial markets. It is not only a manifestation of market self-regulation, but also provides opportunities for re-evaluation and layout.

According to on-chain data, the U.S. government’s Silk Road wallet transferred 29,799 Bitcoins to a new address, worth approximately $2.02 billion. Many people interpreted this transfer as a sell-off, but it was actually the U.S. Department of Justice that transferred Bitcoin to the Coinbase exchange for safekeeping. In addition, the Ethereum spot ETF attracted US$1.183 billion in capital inflows last week, but due to large-scale capital outflows from Grayscale funds, the overall net outflow was US$338 million.

The decline in the market was mainly due to the news that the US government had transferred out of Bitcoin, which triggered market panic. Although the news has caused market fluctuations, the market will eventually return to its technical form, and our future expectations for the bulls are always good. In the afternoon, the price comparison tested the pressure level of 67,000 many times, but failed to make a substantial breakthrough. Our bullish idea fell into the trap again, with 892 points of space in the pie and 34 points in ether. The bottom support in the morning was not broken in the afternoon, indicating that the bottom has ended. Based on yesterday's news, market sentiment has gradually stabilized. We are still optimistic about the upward price trend in the market outlook, and will mainly go long on pullbacks.

The pie can be long at 66000-65700, with a target near 67400; Ether can be long at 3280-3250, with a target near 3400. #美国政府转移BTC #超级央行周 #比特币大会 #美联储何时降息？ #美国以太坊现货ETF开始交易