#加密市场反弹

Three major dimensions to view the structural differentiation of the cryptocurrency market:

1️⃣ Federal Reserve policy game: Before the June interest rate decision, the market anticipated hawkish expectations (CME interest rate futures indicate only a 23% probability of a rate cut), but a certain Eastern country unexpectedly cut rates by 50 basis points on May 7, releasing $132 billion in liquidity, creating a cross-market capital siphoning effect, with BTC's net inflow reaching $4.7 billion in a single week, a new high for the year.

2️⃣ Value anchoring reconstruction: Celebrity IP tokens such as Yua Mikami saw their Total Value Locked (TVL) plummet by 82%, while the number of holding addresses for the top ten mainstream coins increased by 38% month-on-month, confirming the 'market capitalization migration' theory—funds are being transferred from projects ranked below 500 in market capitalization to BTC/ETH/SOL at a rate of $320 million per day.

3️⃣ Regulatory arbitrage window: The digital yuan cross-border payment system (DC/EP 2.0) of the Eastern country connected to Hong Kong's crypto exchanges in May, directly activating an offshore capital pool worth $27 billion, forming an enhanced loop of 'policy dividend → fiat currency channel → core assets', which may allow BTC to break through the key resistance level of $130,000 under sovereign-level liquidity support.

⚠️ Extreme market condition warning: CoinGecko data shows that in the first week of May, the trading volume of tokens with a market cap below $100 million plummeted by 69%, and the 'strong get stronger' Matthew effect is triggering the most intense market cleansing in history.