$BTC Return in May is Going to be Down Again due to Multiple Negative Macro?
One of the significant factors affecting the price of #BTC , as well as the entire market, is the good expectation for the market. At the moment, the market's expectations are heavily influenced by macroeconomic news, particularly regarding potential Interest Rate Cuts by the FED. Currently, there's little expectation about such cuts in June, especially as FED has said to have more banks tightened loan standards at the start of 2024.
Moreover, there's no indication of declining inflation, alongside concerns related to politics and war. This leads to many investors becoming pessimistic, worrying about economic problems and not daring to invest too much. The activities of #ETFsApproval will also stimulate investors' emotions. #BitcoinETFs! funds in the United States saw withdrawals totaling over $1.2 billion from April 24th to May 1st.
Similarly, in Hong Kong, Bitcoin and #ETHETF struggled to gain traction, significantly underperforming their U.S. counterparts. Initial statistics indicate asset inflows of less than $14 million in the debut week.
Moreover, historical data from the two previous halving events in 2016 and 2020 reveal that BTC has consistently recorded negative returns one month post #bitcoinhalvingn
-> This suggests a high likelihood of BTC experiencing negative returns for the second time this year, following three consecutive months of positive growth. However, it is still worth noting that the market is still heavily influenced by news. Positive developments such as improvements in inflation metrics or potential interest rate cuts by the Fed could potentially trigger positive shifts in both BTC and the broader crypto market.
Presently, the market lacks significant positive news to drive an upward trend. Do you believe there's a chance for Ethereum ETF Spot approval in the US? If so, could the crypto market benefit from the #Restaking trend?
