I believe everyone saw the data yesterday. The previous value was 3.00%, the expectation was 2.90%, and the announcement was 2.8%. The data shows all values were below expectations, which can only be described as a temporary positive. Although it currently has no significant impact on the cryptocurrency market, it still depends on the decisions made by the Trump administration and the Federal Reserve regarding their confrontation. It’s just a matter of when interest rates will be cut. For specifics, please refer to the previous article where it is written. Now, let's talk about Ethereum, which many consider to be worthless. According to recent news, Musk intended to acquire Ethereum but was rejected by the Ethereum Foundation. To be honest, even though the Ethereum Foundation has been changing leadership frequently, they are just changing people without taking action. Ethereum needs new blood to stretch back to its original position, rather than the current situation where the Ethereum Foundation has been selling off its Ethereum since last year, giving the impression that the foundation is short on cash and is willing to sell without considering its own value, acting like a dead pig not afraid of boiling water. As for the founder, Vitalik Buterin, I don't want to say much; he seems too busy with his love life to care about Ethereum. It might be better to sell Ethereum directly or let Musk invest to bring in new blood for speculation, allowing Ethereum to reach its position. This would be more beneficial than harmful; otherwise, Musk might take action against Ethereum, leading to its diminished value and forcing Vitalik to sell to him.
Although on the surface the Russia-Ukraine war has stopped for a short time, this is just an illusion. Many are puzzled as to why I say it's only a temporary phenomenon. You can see that although the war appears to have stopped, another type of war, an economic war, has begun. The Russia-Ukraine war has ended, but China, the U.S., and Russia are besieging the European economy. The U.S. previously harvested its allies, South Korea and Japan, and now China, the U.S., and Russia are besieging Europe. The U.S. is making significant moves to combat the European and American economies, fearing that the Euro will challenge the dollar's dominance again. The U.S. has greatly increased tariffs on many countries, but the essence hasn't changed. The Trump administration is trying to save itself, fearing a true economic recession, and is forcing the Federal Reserve to cut interest rates ahead of time to achieve its goals. Right now, we are just patiently waiting to see Trump perform. This is just an illusion; we have not yet reached economic recession. The U.S. stock market and the cryptocurrency market will rebound, so everyone should wait patiently and see the market trends. Bitcoin has surged from a low of $76,606 to $84,539, an impressive increase of nearly 7,000 points. Ethereum has risen from $1,754 to $1,960, which is truly disappointing, and the altcoins are even worse. Looking back at what I said earlier, Bitcoin is the first choice, then Ethereum, and lastly considering altcoins. Altcoins are for those who don’t have much capital and have no choice. Currently, Bitcoin is focusing on the support level of $75,000, which is quite strong. If it breaks below, it will drop to around $72,000. The resistance above is at $85,000, and if it breaks that, we should focus on $88,000. For Ethereum, the support level below is $1,850, then $1,800, with a key focus above at $1,950. If it breaks and stabilizes above $1,950, we will see if this worthless asset can break through and stabilize at $2,000!
Now let's talk about the accelerated return of foreign capital to the Chinese stock market during this period. The re-evaluation of China's economic value has fully started, and this news is quite positive. Currently, many foreign investors are increasing their investments in China, which is a good thing for China at this moment. In fact, since the pandemic, many families have faced shrinking assets, with money becoming less valuable and harder to earn. In particular, housing and vehicles have dropped significantly in value, with many people shaking their heads at the current state of housing. Many want to farm, but with the National No. 1 Document this year, it has become increasingly troublesome for people to retire from cities to rural areas. The government has started reclaiming land, and many were overjoyed to see the government paying for land, only to cry later. I won't go into details here. A long time ago, Jack Ma said that making money from farming has nothing to do with ordinary people, and we will see this effect later. One ring leads to another. I am Lao Shan, thank you for watching, see you tomorrow!