Market Analysis and Outlook for May 29
Today's crypto market showed a relatively obvious shock adjustment trend. The prices of mainstream cryptocurrencies such as Bitcoin and Ethereum fluctuated, and market sentiment also fluctuated accordingly. After Bitcoin hit a historical high of $112,509 on May 22, it entered a correction mode and is currently hovering above the key support level of $107,000, showing a certain price resilience. Ethereum is quoted at $2,640, down about 0.45% from yesterday, and the 24-hour fluctuation range is $2,610-2,680. Ethereum broke through $2,700 after the successful implementation of the Pectra upgrade on May 7, and is now also facing correction pressure. Other mainstream cryptocurrencies such as XRP fell 0.63%, BNB fell 0.57%, Solana fell 0.89%, etc., and overall followed the trend of Bitcoin and Ethereum and fell to varying degrees.
