财经少华
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The cryptocurrency market is sluggish; what does the future hold?
Currently, the cryptocurrency market is bleak. Bitcoin has fallen below the 90,000 yuan mark today, with altcoins experiencing a steep decline.
The performance of the US macro-financial environment has a significant impact on the cryptocurrency market, raising concerns about whether Bitcoin has entered a bear market and future opportunities. The reasons for the sluggish cryptocurrency market are issues with the US stock market and macro policies. Trump maintains tariffs on Canada and Mexico, undermining market confidence. Progress on the US Bitcoin Strategic Reserve Bill has been slow, with related proposals in South Dakota and Montana being rejected or shelved. Expectations of a US dollar interest rate cut have fallen through, leading to liquidity tightening, continuous net outflows from Bitcoin ETFs, and a sluggish market.
Over 500,000 ETH were stolen from Bybit, and the anticipated rebound from repurchases did not meet expectations. Although the gap has been filled, hackers continue to launder and sell off, suppressing Ethereum prices. Altcoins are also deeply trapped in a bear market due to ecological stagnation, unlocking, and other issues.
Last year's meme coin frenzy peaked with the Trump couple issuing coins, which later crashed due to celebrity followings, leading to a trading volume drop of over 80%. Solana and its ecological tokens plummeted, retail investor enthusiasm was dampened, and market sentiment recovery will take time.
From the perspective of gold's rise, the market is fundamentally bearish on the US dollar, which supports Bitcoin in the long term, but there are risks of capital outflows in the short term. Conservative investors can wait for leveraged events, such as buying the dip if Bitcoin falls to 70,000 yuan. Additionally, the Federal Reserve's policies are crucial; changes in monetary policy could trigger trends in the cryptocurrency market, and a significant drop forcing the Fed to loosen monetary policy may bring about a turnaround.
Currently, the cryptocurrency market is bleak. Bitcoin has fallen below the 90,000 yuan mark today, with altcoins experiencing a steep decline.
The performance of the US macro-financial environment has a significant impact on the cryptocurrency market, raising concerns about whether Bitcoin has entered a bear market and future opportunities. The reasons for the sluggish cryptocurrency market are issues with the US stock market and macro policies. Trump maintains tariffs on Canada and Mexico, undermining market confidence. Progress on the US Bitcoin Strategic Reserve Bill has been slow, with related proposals in South Dakota and Montana being rejected or shelved. Expectations of a US dollar interest rate cut have fallen through, leading to liquidity tightening, continuous net outflows from Bitcoin ETFs, and a sluggish market.
Over 500,000 ETH were stolen from Bybit, and the anticipated rebound from repurchases did not meet expectations. Although the gap has been filled, hackers continue to launder and sell off, suppressing Ethereum prices. Altcoins are also deeply trapped in a bear market due to ecological stagnation, unlocking, and other issues.
Last year's meme coin frenzy peaked with the Trump couple issuing coins, which later crashed due to celebrity followings, leading to a trading volume drop of over 80%. Solana and its ecological tokens plummeted, retail investor enthusiasm was dampened, and market sentiment recovery will take time.
From the perspective of gold's rise, the market is fundamentally bearish on the US dollar, which supports Bitcoin in the long term, but there are risks of capital outflows in the short term. Conservative investors can wait for leveraged events, such as buying the dip if Bitcoin falls to 70,000 yuan. Additionally, the Federal Reserve's policies are crucial; changes in monetary policy could trigger trends in the cryptocurrency market, and a significant drop forcing the Fed to loosen monetary policy may bring about a turnaround.
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