I have a faint feeling that the likelihood of a big drop on Monday is increasing. Firstly, during the Qingming holiday, China officially declared 'war' on the U.S., refusing to compromise on equal tariffs. When two superpowers collide head-on, chaos is inevitable. Today, Saudi Aramco, which opened first, has already crashed, falling 5%.
Secondly, there’s the cryptocurrency market's 'every meeting must drop' curse. Hong Kong is hosting a Web3 conference, and both CZ and Vitalik are in attendance. Energy conservation applies—whatever enthusiasm is released by people at the conference, the market will respond in kind.
Market analysts believe that Monday is likely to replay the 1987 'Black Monday' crash. From October 14 to 16, 1987, the market fell for three consecutive days, and on October 19, the U.S. stock market opened with a single-day drop of over 22%. The current market situation is extremely similar to that time.
In the crypto space, only Bitcoin is still resisting, while Ethereum has already stopped pretending and has hit a new low. One can only say that those who hold Ethereum are experiencing a sense of suffering worse than buying A-shares!
1. Market News
1. ETH/BTC has fallen to the level of the '3.12' period in 2020, currently reported at 0.02128.
2. More than 50 countries worldwide have contacted the White House to begin trade 'negotiations.'
3. GMGN Co-founder: GMGN earned 60 million USD on Solana, with all assets staked and none sold.
4. March DeFi income has generally halved, with only MakerDAO achieving growth.
2. Project Dynamics
1. The Web3 social application Phaver has ceased operations, with its token price dropping 99% since the TGE.
2. TON Foundation: Plans to empower 500 million Telegram users by 2028 and promote RWA assets on-chain.
3. The developers of the crypto shooting game 'Shrapnel', Neon Machine, are reported to be in financial crisis.
3. Market Trends
1. BTC has fallen below 83,000 USDT.
2. Analysis: No country can win in a global trade war, and Bitcoin prices will soar as a result.
3. CryptoQuant founder: The BTC bull market cycle may have ended, and a short-term rebound seems unlikely.