Bitcoin sprint countdown to 100,000, is this May's market all about Auntie this time?
The May Day holiday has ended, and although there hasn't been a single sunny line these past few days, the good news is that signals for a phase-specific stop-loss have already emerged. The key times in May are coming one after another, especially whether Ethereum can make a comeback; we'll see this week.
The first major event is today, the 6th, when the digital asset legal draft will be released. This will be an important milestone in the cryptocurrency world. The framework is becoming clearer and clearer; in the long run, it will definitely be a positive, but will there be fluctuations in the short term? I think the content exceeds expectations, and the market sentiment will definitely be ignited.
The second highlight is the Ethereum mainnet upgrade on the 7th. Whether it can seize this wave of upgrades to make a comeback to the peak will depend on the day after tomorrow.
Ethereum's altcoins are also likely to be speculated on in the short term, so it’s worth paying attention to trading opportunities, especially focusing on those with ecosystems and popularity, but remember to enter and exit 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 reach 100,000, and the altcoin celebration script may play out ahead of schedule. However, there’s also concern that institutions might play tricks, potentially dropping the market again in the short term to wash out retail investors before lifting it again.
