April 28 Midday Commentary

1. Bitcoin, expected range 94800-93500, expected trend to peak and then retreat;

2. Ethereum, expected range 1820-1780, expected trend to peak and then retreat;

3. No important data/events today.

Tuesday 22:00 JOLTs Job Openings (expected slight positive)

Wednesday 20:15 US ADP Employment Change (expected positive), 20:30 US Q1 GDP, 22:00 US March PCE Price Index

Around noon Thursday, Bank of Japan interest rate (to prevent negative impact from rate hikes)

Friday 20:30 Non-farm Payrolls/Unemployment Rate [Market Analysis]

Saturday and Sunday Bitcoin and Ethereum are showing a peak and retreat trend. The peak is a continuation of last week's upward momentum, while the retreat is due to the lack of positive news over the weekend and Monday, leading to profit-taking and a price drop.

Today there is no important data/events, long and short positions are balanced and in a tug-of-war.

The market is expected to show narrow fluctuations and a peak and retreat trend.

[Medium-term Perspective]

① With Trump signaling a softened stance on tariffs against China and other countries, and expressing no intention to dismiss Powell, market sentiment has significantly improved, and one should not be overly bearish.

② Starting this week, the market will focus on employment and inflation data, gradually beginning to speculate on interest rate cut expectations, with market volatility sharply rising and falling based on data quality.

Main range for Bitcoin is seen at 93000-88000, and for Ethereum at 1800-1650;

③ In the long term, the bull market is nearing its end; for altcoins and spot assets, consider selling in the next month or two as rebounds approach 30%-50% of the declines since December.

[Strategy]

Trade at the edges of the range: short at highs and long at lows.