What will the cryptocurrency market trend look like after the Toronto Blockchain Summit from May 14-16?

1. Short-term Positive Stimulus

The summit may release positive news regarding ecological cooperation, technological upgrades, etc. (such as cooperation plans with Google Cloud, Visa, or developer incentive programs), combined with the recent rise in expectations for Federal Reserve interest rate cuts, which could boost market sentiment. Historical data shows that similar summits have led to short-term price increases (such as RSI oversold rebounds and narrowing Bollinger Bands technical signals).

2. Key Variables and Risks

- Token Unlocking Pressure: Be wary of the selling pressure brought by token unlocks from project parties before and after the summit, which may partially offset positive effects.

- Regulatory Dynamics: After the summit raises industry attention, the government may strengthen regulatory scrutiny, increasing market uncertainty.

- Macroeconomics: A shift in Federal Reserve policy (such as rate cuts) may become a core driver in the medium to long term, but if economic data deteriorates beyond expectations, it could trigger market volatility.

3. Technical Signals

Bitcoin's current price is fluctuating in the range of $95,000 to $97,000. If it breaks through the $98,000 resistance level, it may open up upward space; conversely, if it falls below the $90,000 support level, it may enter an adjustment cycle. On-chain data shows that Bitcoin balances on exchanges continue to decline, and liquidity tightening may exacerbate short-term volatility.

Conclusion: The summit itself may act as a short-term catalyst, but cryptocurrency prices are influenced by multiple intertwined factors. Investors need to pay attention to the specific cooperation progress released by the summit, on-chain capital flows, and macro policy trends, and rationally assess the risk-return ratio.