Why did Bitcoin's V-shaped reversal just now lead to a surge?
Answer: It is not advisable to do so.
The three news events within 8 hours led to the rise of BTC. As mentioned before: it is recommended to patiently wait for Powell's speech, and act when the situation becomes clear. Because at this moment, almost all altcoins have not risen much, only BTC is still charging forward.
1. The governor of New Hampshire has signed a law allowing the state to invest in Bitcoin and cryptocurrencies. I boldly predict that in the future, among the state strategic reserves passed by the U.S., they will likely allocate ETFs that have been approved for nearly a year, in addition to BTC.
2. Three hours ago, the Ministry of Commerce officially responded to the progress of tariffs with the U.S.: China has decided to agree to contact with the U.S. At the same time, it added: If you want to fight, we will accompany you to the end; if you want to talk, the door is wide open!
Sino-U.S. tariffs are major events affecting the capital market. Both the U.S. stock market and the cryptocurrency market are deeply fearful due to the uncertainty between the two major countries, with no willingness to rally. China has now made its stance clear, mainly looking at the U.S. response. In the previous period, without any actual talks, Trump dared to perform wildly in front of global media, claiming that the contact with China was very pleasant and the atmosphere was good. What will he say this time?
3. One hour ago, the People's Bank of China officially announced a rate cut at a press conference. Major countries around the world have already started to cut rates this year, and now only the U.S. remains! The probability of the Federal Reserve's FOMC meeting not cutting rates in May and maintaining the current rate in June is nearly 70%. Be patient and wait for Powell's appearance!
4. The market share of BTC has reached 65.2%, the highest level in the past 5 years. I believe that BTC's market share is already at its peak; the long-awaited ETH altcoin season is about to come.
5. Amid all the positive news, there is a significant international negative news that the cryptocurrency media intentionally ignored: A new India-Pakistan war is brewing! On the control line of Pakistan-administered Kashmir, Pakistan and India have begun to exchange fire, and Pakistan has initiated ground and air combat operations.
Doesn't the dog dealer know about the big events that everyone knows?
#美联储FOMC会议 #加密市场反弹 #加密市场回调 $BTC $ETH
May 7, 2025, Issue 68 of "Crypto 24"
