The buying enthusiasm in the first phase seems to have gradually cooled down.
However, we still expect more new demand to enter the ETF market, especially in the second quarter.
The 90-day ETF product review period has ended, which will attract more institutions and investment advisors to include ETFs in their client portfolios. However, it must be pointed out that the historical performance in May is not ideal.
In the past three years, Bitcoin has closed in the red in May, and the current performance in April is also unsatisfactory.
Now nearly 18 days have passed, and Bitcoin has fallen by more than 10%, which is somewhat similar to the performance in the past few years.
Looking back at the annual interest rate record of OKX's leveraged lending, we are now back to the bear market level of 1%. There is a lack of lending demand in the market. In the decline in January this year, the interest rate once fell back to the 1% level.
However, no one knows how long this situation will last. In times of fear and uncertainty in the market, it is often a good time to accumulate Bitcoin.
However, only a few people can seize such opportunities.
As for Bitcoin's escape top indicator, we have discussed it before. After breaking through the historical high of the previous cycle, the price will always be resisted for a period of time.
However, after a period of rest, Bitcoin will eventually break through perfectly.
Now it seems that we may have only gone halfway, and Bitcoin is still expected to continue to rise in the second half. I hope everyone can stick to the end.
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