Yesterday's macro data and the unstable international situation were both negative, leading to a sharp drop in Bitcoin. First, the inflation data exceeded expectations, which was negative. Israel's expansionary actions were also negative for risk assets. The inflation data should be a more important reason. The rebound in inflation data is a direct indicator of monetary interest rate policy, so it may lead to negative CPI data next Wednesday. If this is the case, then next Monday and Tuesday may continue to bear downward pressure from macro negatives.
ETF data, on May 10, there was a net outflow of 84.7 million US dollars. The main outflow came from Grayscale, which had an outflow of 100 million and BlackRock had an inflow of 12 million. The rest were small fish.
On May 11, EigenLayer officially announced that Season 1 had issued 113 million EIGEN to users, and 8.9 million EIGEN were pledged/entrusted within a few hours; another vampire is about to go online, let's see what the situation will be like then. Maybe it will continue to fall. At the same time, there is another big vampire layerzero, which may also start its own token distribution proposal. It should be not far from going online. It is mainly to realize inter-chain communication. Inter-chain communication has always been a barrier problem of blockchain. The efficiency and security of cross-chain bridges are too poor. If someone can solve this problem at the bottom level, it is still a very NB thing, and it is also a very important step for the future development of WEB3.
Market Interpretation
Yesterday's sudden drop caused by macro directly destroyed the structure. I think this kind of volume and amplitude drop
may continue on Monday and Tuesday next week. The reason I mentioned above, this time I can only look at the support strength of the 60,000 mark, but I personally think there is a high probability that it will not be able to hold. For spot positions, there should be no need to panic. As I said, the interest rate cut will come sooner or later, and the possibility of further interest rate hikes is extremely low. The recent market is all caused by macroeconomic influences, so once the money is released, it will rise sharply. Of course, the US dollar may depreciate at that time, so the choice of holding is very important. Once the holding cannot outperform the overall market, it will be a waste of effort.
The two cakes continue to move together, although the rebound is small
, but the decline this time is smaller, and there is no situation where they follow the decline but not the rise.
There are almost no stocks rising today, all are falling, and there are few opportunities for speculation. OPENAI will hold a press conference next week. Let's see whether the AI sector will realize the benefits or continue to be hot.
Today's Fear and Greed Index: 53
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