In simple terms, the market on Sunday night was like a tightly compressed spring suddenly releasing; at that time, Bitcoin's price fluctuations were particularly small (even calmer than late February and mid-March). Later, the market started to rise, trying to break through the previous high of 88700, but got stuck around 88500, then slowly fell back to around 87000. By this morning, Bitcoin was still hovering around 87000, neither quickly breaking support nor managing to break through.
This situation is very similar to the market after March 24, when it also surged to the 87-88 range on a Monday, then consolidated for a full 5 days, before suddenly dropping on Friday. It later fell to around 81000, quickly rebounded to 88500, and then continued to drop. Although it didn't create a new high, the price fluctuations became noticeably larger.
I estimate it might be similar to the last situation, with the market volatility being revived in a bouncing manner. In other words, the likelihood of a direct, unidirectional surge is low, as the overall macroeconomic conditions do not currently support such a trend. As for the possibility of a unilateral crash, since Bitcoin did not immediately drop back to the previous range to form a false breakout, this probability is gradually decreasing.
Next, there will be some consolidation for a while, and it may drop again to the bottom around early May, before a real rebound begins in mid to late May. This aligns with the speculation about interest rate cuts starting in May, with cuts beginning in June, and a series of favorable news releases starting in May.
These 3 cryptocurrencies in a bull market are set to surge 10 times first!
GRT
The Graph is a decentralized protocol that indexes and organizes blockchain data, allowing developers to easily build DApps without sifting through raw data. It uses subgraphs (structured datasets that can be queried with GraphQL) to quickly access relevant on-chain information. Through roles such as indexers, curators, and delegators, The Graph ensures reliable and efficient delivery of data across supported blockchains.
GRT is the native token that powers The Graph network. It can be used for staking, paying query fees, and rewarding participants (such as indexers and curators). GRT also participates in governance and can be traded on major exchanges, thereby creating value both within and outside The Graph ecosystem.
RUNE
THORChain (RUNE) is a decentralized liquidity protocol that supports cross-chain trading. It allows users to trade native assets such as BTC, ETH, and BNB without the need for wrapping or relying on centralized exchanges. By utilizing an automated market maker (AMM) model and continuous liquidity pools, THORChain ensures the efficiency and security of asset trading. Nodes power the network and support functionalities such as liquidity provision, yield farming, and decentralized trading, creating a seamless multi-chain trading experience.
RUNE is the native token of THORChain, playing a crucial role in securing the network and facilitating token swaps. It serves as the base asset for all trading pairs, ensuring deep liquidity and seamless interoperability across pools. RUNE can also be used for staking, governance, and paying protocol fees. Its value is closely tied to network activity, as increases in trading volume and liquidity demand boost the demand for RUNE within the system.
CFX
Conflux (CFX) is showing signs of recovery, with its price recently rising over 6% in just one day. This increase is part of a broader upward trend that began at the end of January, attracting many investors eager to capitalize on the momentum. But does this growth mean it's a good time to buy now?
At the beginning of this year, CFX repeatedly tested the resistance level of $0.1811 but failed to break through. The current trading price is $0.0712, below this key level, but it is seeking support nearby. The hourly chart shows that some buyers still have hope, especially if the price stabilizes above $0.06. If this occurs, we may see the price rise to $0.08293.
Of course, things won't be that simple. As CFX approaches resistance levels, some holders may decide to take profits, which could lead to a price drop again. On the other hand, breaking through $0.0921 could attract more buyers and potentially open a stronger upward trend.
