4.24 Market Insight! Is the Gold Rally Coming to an End, and is There an Opportunity for BTC?

Brothers and sisters, yesterday's strong bullish candle changed the views of many, preparing for a big move, but what will the market look like next?

Gold has run out of steam. After reaching around $3500 last week, gold has entered a phase of significant volatility. According to previous analyses, its upward trend is nearing its end, and some funds and attention will shift to BTC, which is a positive sign.

Sovereign wealth funds, listed companies, and U.S. elites are increasing their BTC holdings through ETFs and the spot market, while retail investors are selling. Currently, countries like El Salvador and Bhutan have included Bitcoin in their foreign exchange reserves. In May, more details about the U.S. BTC strategic reserve will be disclosed, forming a positive outlook; some state governments in the U.S. are also promoting related legislation. Although purchases may not begin this year, many states' finances may start buying BTC next year.

From on-chain data, BTC and stablecoins have been flowing out of exchanges from yesterday to today. Altcoins remain risky. When BTC corrects, altcoins may suffer further damage. It is advised not to chase after the surging Meme coins, and even consider shorting them.

Currently, it is recommended for those holding full spot positions to reduce their holdings, and not to exceed 30% in altcoins. Be patient and wait for BTC to retest and confirm! For brothers who haven't entered the market, don't rush, be cautious of corrections, and consider buying in batches every day. Investing has risks; invest with spare money and think independently.

$BTC faces strong resistance at 95,000 - 96,000, having reached an important area of loss and pressure. Volume has not sustained, and the four-hour level is starting to peak. Shorting can be done around 94,000 - 93,500, with a stop loss set at 95,000;

$ETH has been consolidating at the bottom for a long time, and after a volume increase, it touched 1840 and started to adjust. In the short term, it will need to try breaking 1800. For short-term buying on a pullback, it can be done around 1740 - 1720, with a stop loss at 1700;

$SOL has a pressure level at 153-155 and support levels at 144 - 141 - 138. Shorting can be considered at 152 - 154, with a stop loss at 157;

BNB 600 is worth paying attention to, whether it can hold the spot support at 587 and 595.

Many altcoins have rebounded significantly. Public chain upgrades like LDO, ARB, OP, PEPE, RPL, PENDLE, and ENA can be monitored.

Recently, stablecoins saw a significant inflow, but early on the 23rd, they turned to outflows. However, the inventory still shows an upward trend. Focus on buying lightly on a pullback to 90,000. The inventory of major exchanges is still flowing out, requiring positive news and capital injection to push prices beyond 95,000.