The weekend has arrived, and the market atmosphere is quite relaxed now.
Bitcoin has been hovering around $84,500, and the fear index has dropped below 30. I sincerely hope it can calm down these days and not cause any more trouble! The price of Bitcoin has been fluctuating in the range of $83,000 to $86,000 for several days, showing characteristics of high-level consolidation, with the market in a phase of increasing divergence between bulls and bears. Technical formation: The daily chart has formed a continuous five-day sideways consolidation pattern, with K-lines mostly showing small bodies and obvious upper and lower shadows, indicating fierce competition between bulls and bears in this range. On the 4-hour chart, the MACD indicator is flattening, the RSI indicator is oscillating in a neutral range (50-55), and trading volume is gradually shrinking, typical consolidation characteristics, indicating that a change in trend is imminent.
After discussing Bitcoin, let’s take a look at altcoins.
Recently, there have been crazy troubles in the altcoin market! From ACT crashing the MEME project with the team shifting blame for lowering leverage and market maker sell-offs! OM crashing RWA with the team shifting blame to exchange mechanisms, and IP suddenly plummeting 30% at midnight to induce a sell-off!
ZKSYNC has issued 110 million ZK on-chain and dumped it on-chain, with the team shifting blame to hackers. The slogan of ZK is to ensure the security of blockchain, yet they can't even protect themselves—it's laughable!!
Moving to today's AIDOGE crash, all of this hints at a signal: exchanges are exerting less control over project teams! In the past, project teams wouldn’t dare to harvest profits so openly because exchanges closely monitored both the project team's margin and market-making accounts!
If there was an issue, they would immediately contact the project team to inquire about the situation. If you mess around, your market-making account will be frozen and you won’t be able to withdraw funds! But nowadays, with frequent flash crashes in altcoins, the reason behind it is for you to ponder!
Trump wants to fire Powell.
The Federal Reserve has not been idle either. Powell has again stated, "No chance of interest rate cuts!" Trump was furious upon hearing this and argued about firing him.
But everyone knows, the Federal Reserve is an independent institution; no matter how much Trump stamps his feet, he can only shout a couple of times on Twitter. If he really wants to take down Powell? Do you think this talent show can still garner votes for him to step down?
Recently, he has been a bit more strategic with his words, hinting that US-China relations will ease within 3-4 weeks, which coincides perfectly with the expectations for interest rate cuts in June. Think about it carefully; doesn't it seem a bit suspicious?
