$BTC $ETH

Today, Bitcoin is likely to continue its pullback. The May Day holiday is over, and no new trends have emerged. The Bitcoin ecosystem is challenging, meme coins are struggling, and platform tokens are facing difficulties.

The Federal Reserve is still grappling with the dilemma of addressing economic recession or stagflation. After nine consecutive days of gains, the U.S. stock market also experienced its first slight decline yesterday.

Nini believes that the position of 97800 for Bitcoin can be considered as the brief high point for May. This week, there will be significant macroeconomic news from the Federal Reserve. From the overall K-line trend, over 90% suggests that there won't be any statements regarding interest rate cuts at this press conference, and Chairman Powell's remarks may lean towards a hawkish stance, kicking Bitcoin and punching Ethereum.

If more bulls are attracted to enter the market at this high point, they may face a situation where news triggers a sudden liquidation, leading to a mad rush for market liquidity.

Ethereum has been maintaining its price between 1830-1800, with neither bulls nor bears showing strong upward momentum. Currently, the 4-hour chart still indicates exhaustion. If it breaks below the support at 1800, the position at 1730 may be seen very quickly.

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