This morning, Bitcoin surged to 97732, nearing the high point of May 2, with 100k within reach, making a new ATH in Q2 highly probable.
This wave of increase is propelled by three major positive factors:
1️⃣ New Hampshire passes the Bitcoin Strategic Reserve Bill, signed by the governor. Although the funding is limited, the sentiment is overwhelmingly positive. The market begins to realize that among the 16 states following the reserve process, 10 are Republican states, enhancing positive expectations.
2️⃣ The US and China have officially announced the start of negotiations, a significant step forward. Although substantial results are difficult to achieve in the short term, the easing signals are beneficial for the financial market.
3️⃣ The domestic sudden interest rate cut and reserve requirement reduction release trillions in liquidity, coinciding with actions ahead of the Federal Reserve's FOMC. The active depreciation of the yuan also puts pressure on the US side. Meanwhile, the Federal Reserve has quietly initiated 'stealth QE', purchasing $20 billion in government bonds.
📉 Of course, there are also geopolitical negatives, with India and Pakistan on the brink of conflict, nuclear warheads on display, potentially impacting situations beyond Ukraine and Israel.
📉 ETH upgrades tonight but the response is lukewarm, direction is wavering, and ETFs are experiencing continuous net outflows, with ecosystem activity far below that of SOL and Base. In terms of altcoins, apart from ETF concept stocks, most are being drained by BTC. $GORK, although called out by the veteran, is showing weak momentum, with potential negatives not yet fully digested.
