Market conditions are constantly changing, and trading is all about the present. You sing whatever song fits the mountain you are on. Brothers, the gold price has seen a correction. We mentioned that a rebound is an opportunity to short. If you didn't take action, then there’s nothing that can be done. The Bitcoin price continues to move in our direction. Each time it breaks through a key level, it undergoes significant price movements. This time is no exception; it has entered a large range of fluctuation between $100,000 and $110,000. In this range, all the previous trapped spots have basically been released. Once it breaks through the previous historical high of $110,000, Bitcoin will experience a massive increase, possibly rising by around 30%-40% within two to three days. After breaking that position, no one will be trapped anymore, indicating that everyone is making money, right? Everyone dealing with spot trading is profiting, which means that more money can drive the overall market's fluctuations. Therefore, $110,000 is a very critical position, and once we break through this level, our price will soar. So when we see a huge price range movement, you should believe in this wave of market conditions.
It’s now May 12th, waiting for the interest rate cut at the end of next month, close to June. That will be the great victory. The reason for the early rise is that the interest rate cut in June is a done deal. So why are people seeing a sharp rise in advance? It's because the fixed expectations of an interest rate cut in June and July are driving prices up. It’s not a random rise; there are indeed reasons behind it. The market tends to start one to two months in advance and doesn’t wait for positive news to be released before it rises. The news from Wall Street says that the Fed is signaling a rate cut, and that first wave of people are the ones who bought in at the bottom directly, from over $70,000 to now over $100,000, an increase of over 40%. So this group is the first batch to profit, and then it spreads to the next wave, who continue to buy at lower levels. By the time it reaches you, it may be too late.
Today I found that some institutions and companies in Japan are also frantically purchasing Bitcoin. So as the second in command in Japan, they have no choice. As the follower of the US, since the leader has made this choice, the second can only follow. After all, their economy and even real estate have been destroyed by bubbles once, and they currently have no industrial output value. They can only rely on finance, which is also struggling to compete with others, basically becoming a puppet. Japan will then follow the rhythm of the US and continue to buy Bitcoin, pushing its price upward.
The biggest pain point is the fluctuation around $100,400 to $100,500 in these days. Bitcoin wallet balances continue to decrease. Over the past 30 days, the Bitcoin liquidation map is still heavily tilted toward an upward trend, which cannot be changed. After the US stock market opens in the evening, Bitcoin may continue to gain upward momentum, possibly even reaching $110,000. So don’t be surprised when that happens.
The price of Ethereum has broken through the $2,600 level, continuously moving toward our target. Tonight or tomorrow, it might break through $2,800, so everyone should be prepared. If it rises sharply, it might approach $3,900. It will gradually accumulate some short positions for you to short; it won’t rise that quickly. It will rise intermittently, not in one go. Litecoin has encountered some resistance during this upward channel and has seen a correction. It will oscillate for a couple of days but will go up again. The overall trend is unstoppable, right? Bitcoin's total market value has reached 59.28%. If altcoins are to rise, Bitcoin must go up this week. If it doesn’t rise, it cannot maintain its market share. That's all for today.