Bitcoin is sprinting towards the 100,000 countdown. Is this May's market all about Auntie Tai?
The May Day holiday has ended, and although there hasn’t been a single sunny line in the past few days, the good news is that a phase of stop-loss signals has emerged. The key times in May are coming one after another, especially whether Ethereum can make a comeback; it all depends on this week.
The first major event is on the 6th, which is today, when the digital asset legal draft is released. This will be an important milestone for the crypto world. The framework is becoming increasingly clear, which is definitely a long-term positive, but will there be short-term fluctuations? I think the content will exceed expectations, and market sentiment will definitely be ignited.
The second key event is the Ethereum mainnet upgrade on the 7th. Whether it can leverage this upgrade to stage a comeback to the peak will depend on the day after tomorrow.
The Ethereum-based altcoins are also likely to see some short-term speculation, so it would be wise to pay attention to making some waves, particularly focusing on those with ecosystems and heat among Ethereum Layer 2 tokens. Remember to get in and out quickly; don't be greedy.
The third explosive point is the Federal Reserve's interest rate decision on the 8th.
So, what is the market most looking forward to in May? It must be the expectation of interest rate cuts. If this meeting releases dovish signals, Bitcoin could surge to 100,000, and the altcoin frenzy script might be played out ahead of time. However, there is also a concern that institutions might play tricks, and in the short term, there could be another dip to wash out retail investors before rallying again.
