Let's talk about the market: Grayscale currently has about 300,000 Bitcoins, which is half of the peak of 600,000. Although the outflow rate has slowed down, it is still being sold because of the high handling fees.

Second, most of Grayscale's chips were accumulated in the previous cycle, with a very low cost price, and there is also a need to cash out. Previously, BlackRock continued to buy chips, and many of them were sold by Grayscale. In essence, BlackRock dragged up the price of Bitcoin.

But in recent days, BlackRock's inflow has slowed down, and Bitcoin is unlikely to improve in the short term. Unless the macro level improves, the supply and demand balance after Bitcoin is halved, and the price is estimated to take some time to play a role.

After talking about Bitcoin, let's talk about Ethereum. The exchange rate of Ethereum to Bitcoin has risen in the past two days. Recently, it has been emphasized that Brother Sun is building a large position in Ethereum. Regardless of whether it is finally approved or not, at least large funds are coming in, so we need to re-examine whether Ethereum spot will really pass in the end, in May or June?

It is not impossible. Funds are sometimes very sensitive. According to the last cycle, the sharp rise of Ethereum also occurred in the second half of the bull market. Calculating the cycle, it is almost the second half of the bull market. Everyone should pay attention to this. If Ethereum can continue to rise and drive the rise of cottages, then the cottage season may begin.

In addition, the holiday mode will be turned on May Day soon. I will only update briefly in the next few days. You don’t have to soak in the market every day, and you also need to add some color to your life appropriately!