Early this morning, the Federal Reserve announced that the interest rate would remain unchanged, which aligns with market expectations. What impact will this have on the upcoming bull market in the cryptocurrency sector? Although there was no rate cut in May, maintaining the interest rate is within the market's predictions, so the news released early this morning is positive for the market itself. Bitcoin also broke through the $98,000 mark, and currently, since there was no rate cut in May, the probability of the Federal Reserve cutting rates in June and July will greatly increase, which is also a conclusion drawn from the analysis of the released data by the market.

Bitcoin breaks through $98,000

In the cryptocurrency market, Bitcoin briefly broke through $98,000, reaching a high of $98,379, marking the highest since the end of February, seemingly inspired by Trump's earlier announcement of reaching a tariff agreement with a major country.

Technical aspect

Bitcoin is in a key resistance zone between $95,600 and $100,000. The 4-hour chart shows a consolidation phase, and the narrowing Bollinger Bands indicate that a price change is imminent. If it breaks through $95,600 (upper Bollinger Band), it may trigger a 'squeeze breakout' trend, targeting the psychological barrier of $100,000.

Other mainstream cryptocurrencies have not reacted yet and have even slightly declined.

  • Ethereum: $1,823, down 1.03% in the last 24 hours

  • XRP: $2.12, down 1.91%

  • BNB: $602.41, down 0.26%

  • SOL: $147.8, down 0.78%

SUI is the most enjoyable on-chain wealth management chain I've been on in the past half month, currently with the strongest DEFI effect.

I've mentioned before that I bottomed out a portion of $cetus and $Sui in April and made an 80% profit difference. However, I still chose to do LP on MMTFinance with part of my funds, earning about 10% profit in half a month, and I can also earn points.

Starting from $2.3, I restructured liquidity a total of three times, exceeding the limit three times, capturing the price difference and mining rewards.

After the first surge broke through $3, it automatically withdrew from LP after exceeding the range. Subsequently, the price of SUI stabilized between $3.1 and $3.8, and I re-entered each time it dropped to $3.2. I generally set the lower limit at 5% and the upper limit at 10%, with an overall average APR of around 300%. Roughly calculating the mining income, with a cost of $5,000, I can produce about $40 daily.

$Mikami thunderstorm: midnight 'harvesting' of meme coins

At 4 AM, the new meme coin $Mikami on the Solana chain suffered a major setback. After just a few hours of launching, it plummeted from the presale price of $0.245 to $0.1, a drop of over 60%, and at one point during the early trading, it was close to ‘tenfold zero’ status.

The trading trajectory uncovered by the community could almost be written into a 'cryptocurrency harvesting textbook':

  • The team cashed out 3.46 million SOL, approximately $3.1 million;

  • The opening time was precisely at midnight, retail investors sleeping, KOLs muted;

  • Violent downward pressure + reserved selling pressure, midnight turned into a 'bloody night';

  • Currently valued at only $7.8 million, presale investors want to break even, Mikami needs to rise above $0.5, which is nearly impossible under the current sentiment.

Community summary: 'This is not a mistake of three, but rather our overconfidence in the meme wealth creation myth.'