Bitcoin dropped from the high of $97,865 at the end of April to $93,000.
Now the price is stuck below the 60-day moving average at 94,600.
It's like being held underwater in a toilet, unable to struggle.
During the holiday, let's see what the institutions are up to?
Don't be fooled by the market looking like a dead fish; big institutions are not idle.
Last week, the IBIT ETF under BlackRock gained $150 million daily.
Like a Pixiu, only entering and not exiting. Other ETFs are in dire straits.
Old products like GBTC are being withdrawn daily.
It's like giving out red envelopes during the New Year.
The current situation is like scrambling for discounted eggs at a market.
Retail investors are scared out of their wits, while big institutions quietly make a fortune.
BlackRock is now holding $5.4 billion in Bitcoin-related assets.
The holdings of IBIT alone have more than doubled.
This old fox has also secretly bought Grayscale's GBTC.
Clearly aiming to take everything, in my opinion,
These guys are just waiting to cut the retail investors while they can buy the dip!
Brothers, the next three days will see three major bombs about to explode.
The first thunder is from the Federal Reserve of the big country.
Although it's certain there won't be any interest rate hikes during Wednesday's meeting,
But if that old fellow Powell lets out a hawkish fart,
It's completely possible for Bitcoin to drop another 3,000 points.
The second thunder looks at U.S. tech stocks; if the Nasdaq can hold firm,
You never know, it might bring the crypto circle back to over 100,000.
The third thunder is the most critical; if BlackRock continues to buy heavily tonight,
That's just the clear signal telling retail investors: I'm about to pump the market!
Regarding tariffs, the big country is also restless: trade data will reveal the truth.
The import and export data for April to be released on Friday will definitely make you wet your pants.
The tariffs that the big country just imposed are starting to take effect, and exports to the U.S. are estimated to plummet sharply.
Domestic demand is even worse, the import volume of iron ore is estimated to be worse than a virgin's sex life.
The RMB exchange rate is like walking a tightrope; if this data doesn't meet expectations, it could crash at any moment.
Saturday's CPI/PPI will be crucial; if CPI continues to flatline,
indicating that the common people really have no money to spend.
PPI has seen negative growth for 19 consecutive months; factory owners are probably planning to gather on the rooftop.
If the Celestial Empire doesn't lower the reserve requirement ratio and inject liquidity in the second quarter, this sinking ship of an economy is really going down.
On the news front, Bernstein's analysts have said:
By 2029, companies need to buy a whopping $330 billion worth of Bitcoins.
This madman at MicroStrategy wants to acquire $124 billion.
Other companies are picking up the leftovers; now listed companies are holding 720,000 Bitcoins.
This accounts for 2.4% of the total. BlackRock is undoubtedly the emperor of the crypto world.
The current situation is: institutions get the meat, retail investors get the wind, exchanges happily earn fees.
In terms of market dynamics, the short-term view sees 95,000 as the line of life and death.
If the U.S. stock market can hold this position before opening tonight,
There’s still a chance to touch $97,000, but if it falls below $94,000,
There really is a trend towards 90,000, barring any surprises.
There will be a big move at the end of May or early June,
Either break through 100,000 and create history,
Either it drops to 80,000 and makes the retail investors jump off buildings collectively.
From a technical perspective, the position at 98,000 has failed to hold firm twice.
It's clearly an M-top pattern; with this breakdown, haha,
It's like a young lady getting her waistband pulled down.
The neck support at 94,000-94,400 can easily break.
the price is now hovering below the 60-day line at 94,600.
If it breaks below the 200-day line at 95,289,
That mid-term trend is directly cooling off; the market makers can't hold it down.
The short-term hourly chart has been sliding down like a slide since May 3.
Now 95,000-95,400 has become a ghost gate.
If you step in, below is 92,000-92,800.
Last week, it was a dog-eat-dog scenario: the market makers' shorts were fully exposed.
Looking at the trading volume distribution is like watching A-shares get censored.
Key areas are all within the range of 94,600-95,600.
Below 90,500-92,000 is the last bit of cover.
If we break through this, we might directly run naked to 89,200 without negotiation.
Bulls are now holding onto 94,400 like they're guarding their virginity.
Unfortunately, the trading volume is as impotent as can be.
The contract market is even more exciting, with Bitfinex and bn's short position skyrocketing to 58%,
Clearly intending to stir things up. However, the funding rates are still fairly normal.
This shows that these guys are also afraid to go all in; in my opinion,
Now it's a competition of who has the bigger bladder, seeing which side can't hold it and pees their pants first.
Lastly, let me say a blunt truth: this market is like gods fighting, and the little devils suffer.
Even a fart from the Federal Reserve can shake the crypto world, and bad data from the big country can cause a collapse.
I suggest everyone buckle up; this roller coaster has just hit the steepest slope!
Alright, let's end it here for today; don't forget to like, comment, and follow before you go. #美联储FOMC会议 #美国众议院市场结构讨论草案 #币安LaunchpoolSXT #欧盟隐私币禁令 #热点话题
