Fundamentals:
1. The Hawk's Bitcoin ETF saw a net inflow of $591.2 million yesterday, while the spot Ethereum had a net inflow of $64.1 million yesterday.
2. OpenAI announced that users will soon be able to purchase products through ChatGPT. As a bellwether of the global AI industry, OpenAI's e-commerce functionality reinforces the expectation of 'AI practicality,' providing a dual boost to the sentiment and logic of the AI sector in the cryptocurrency market, and is expected to trigger rotational rises in the short term.
3. The probability of the Federal Reserve maintaining interest rates unchanged in May is 91.1%.
Technical Analysis:
BTC: The daily chart shows a pullback to the 745 level at the beginning of the month. The first wave ended with a ten thousand point rally, entering a relative high oscillation zone of 83-86. The second wave started from 84, followed by another ten thousand point rally, after which it entered a high adjustment phase. The market still needs to continue adjusting, waiting for the 14-day moving average below to extend upwards. Meanwhile, the K-line adjusts through oscillations to pull back to the lower blue trend line to end the adjustment. In the short term, if the Bitcoin price does not break the 92 level, after multiple surges above 95 to release the trapped positions in the February dense transaction area, it is expected to continue to rise. Looking at the 4-hour chart, there have been multiple pullbacks after reaching around 955, which not only reflects the profit-taking behavior of short-term traders at the beginning of the month but also shows the release of trapped positions above 95. At the same time, each pullback low on the 4-hour chart is continuously rising. For intraday operations, key support to watch below is at the 936-926 level, while key resistance above is at the 954-964 level.
ETH: The daily chart is currently in a sideways phase at a relative high level of 1750-1820. The longer the horizontal, the higher the vertical. The daily trend currently shows left-right symmetry, with key support below at the 1720 level. As long as it does not break this level on pullbacks, the short-term target above is around 2100 points. In the 4-hour chart, there are multiple up and down spikes, which is a typical oscillation washout behavior, with both long and short sides testing each other's limits. The main force is testing the high position and has not yet launched a trending market. After a significant volume increase and a breakout above 1800 points, the market has not shown obvious selling pressure. The main force may be building a chip platform to prepare for the subsequent breakout, and the key that will determine the long-short trend is approaching. For intraday operations, key support to watch below is at the 1780-1760 level, while key resistance above is more focused on the 1810-1830 level.
Altcoins: The fundamentals above mentioned the landing of OpenAI's e-commerce function, which strengthens the expectation of 'AI practicality' and provides a dual boost to the sentiment and logic of the AI sector in the cryptocurrency market, likely triggering rotational rises in the short term! The overall sentiment in the AI sector is already highly driven, with FET + AGIX being the strongest linkage in the current AI sector. RNDR is the leading AI + rendering infrastructure, and TAO represents the ceiling of AI narratives, but it has large fluctuations. It is advisable to focus on opportunities for volume startup after strong structural signals or to plan when a clear stage bottom is formed after entering a phase of adjustment.
