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【Account floating profit is a dream, only delivery profit counts】 Recently, there has been increasing discussion about overseas investment returns. A common misconception is that many people think it is calculated based on the floating profit of the total account assets at the end of the year. In fact, it is not; the core is to look at 'delivery profit and loss', which is the actual profit you receive after selling. This can be understood as follows: as long as the assets are still in the account, no matter how much you have made on paper, it is still just 'paper wealth' and does not generate current tax liability. Only when you press the 'sell' button and convert the assets into cash does this portion of profit get officially recorded. This leads to an important annual planning idea. If you achieve a profit through selling during the year but then use this cash to buy new stocks or assets before the end of the year (before December 31), from the perspective of annual settlement, this cash becomes 'goods' again. In this way, the realized profit for the year can be 'offset' by the newly purchased assets, thereby reasonably deferring tax liability to the future. Therefore, for investors, when reviewing at the end of the year, one should not only look at the total asset amount but should also carefully account for the entire year's 'sell' records. This directly relates to your annual tax arrangements. At the end of the year, will you adjust your positions for tax planning? How do you balance this operation with a long-term holding strategy? Continue to track global market and strategy dynamics; feel free to follow. This does not constitute investment advice. #税务申报
【Account floating profit is a dream, only delivery profit counts】

Recently, there has been increasing discussion about overseas investment returns. A common misconception is that many people think it is calculated based on the floating profit of the total account assets at the end of the year. In fact, it is not; the core is to look at 'delivery profit and loss', which is the actual profit you receive after selling.

This can be understood as follows: as long as the assets are still in the account, no matter how much you have made on paper, it is still just 'paper wealth' and does not generate current tax liability. Only when you press the 'sell' button and convert the assets into cash does this portion of profit get officially recorded.

This leads to an important annual planning idea. If you achieve a profit through selling during the year but then use this cash to buy new stocks or assets before the end of the year (before December 31), from the perspective of annual settlement, this cash becomes 'goods' again. In this way, the realized profit for the year can be 'offset' by the newly purchased assets, thereby reasonably deferring tax liability to the future.

Therefore, for investors, when reviewing at the end of the year, one should not only look at the total asset amount but should also carefully account for the entire year's 'sell' records. This directly relates to your annual tax arrangements.

At the end of the year, will you adjust your positions for tax planning? How do you balance this operation with a long-term holding strategy?

Continue to track global market and strategy dynamics; feel free to follow.
This does not constitute investment advice.

#税务申报
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$AMD(AMD)$ 【AMD Strikes at NVLink: Can the Open Helios Cabinet Disrupt the AI Landscape?】 Nvidia has dominated the AI chip market for a decade, and the real turning point may explode at the "full cabinet system" level. Last night, AMD unveiled the MI355X/MI400 and launched the Helios cabinet: 72 GPUs + UALink open interconnection, the entire cabinet is treated as "a supercomputer." Higher HBM capacity and power consumption ratio lead to a 29% reduction in inference cost per token (compared to Nvidia's B200), with Crusoe purchasing 13,000 units at once as evidence of demand. OpenAI, Meta, and xAI have already locked in orders, and Oracle plans to deploy 131,000 units in clusters. AI business revenue for 2024 has exceeded $5 billion, and management has raised the TAM to over $500 billion by 2028; if AMD's AI-related revenue grows to $8 billion in 2025, non-GAAP EPS will rise to $6, which, even at a 30 × PE ratio, points to $180, while the current price is still below $120. The market underestimates not only the "second supplier" but also the accelerator effect of AMD's transition to a "CPU + GPU + Network + Cabinet" full-stack platform. 💡Question: Can an open ecosystem really leverage NVLink's moat? Will Helios become a cost shockwave for cloud vendors? Not an investment suggestion. #AMD #NVIDIA
$AMD(AMD)$ 【AMD Strikes at NVLink: Can the Open Helios Cabinet Disrupt the AI Landscape?】

Nvidia has dominated the AI chip market for a decade, and the real turning point may explode at the "full cabinet system" level. Last night, AMD unveiled the MI355X/MI400 and launched the Helios cabinet: 72 GPUs + UALink open interconnection, the entire cabinet is treated as "a supercomputer." Higher HBM capacity and power consumption ratio lead to a 29% reduction in inference cost per token (compared to Nvidia's B200), with Crusoe purchasing 13,000 units at once as evidence of demand. OpenAI, Meta, and xAI have already locked in orders, and Oracle plans to deploy 131,000 units in clusters.

AI business revenue for 2024 has exceeded $5 billion, and management has raised the TAM to over $500 billion by 2028; if AMD's AI-related revenue grows to $8 billion in 2025, non-GAAP EPS will rise to $6, which, even at a 30 × PE ratio, points to $180, while the current price is still below $120. The market underestimates not only the "second supplier" but also the accelerator effect of AMD's transition to a "CPU + GPU + Network + Cabinet" full-stack platform.

💡Question: Can an open ecosystem really leverage NVLink's moat? Will Helios become a cost shockwave for cloud vendors?

Not an investment suggestion.

#AMD #NVIDIA
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BTC Volatility Weekly Review (June 2 - June 9)Key Indicators: (June 2, 4 PM - June 9, 4 PM Hong Kong Time) BTC against USD rose by 0.2% (105.4 -> 105.65 thousand dollars), ETH against USD fell by 0.6% (2,510 -> 2,495 dollars) Last week the market tested the support level of 99-101 thousand dollars but then quickly rebounded back to the 105-106 thousand dollar range, strongly indicating that the coin price is about to attempt another upward breakthrough to a new high in the short term. If this breakout fails, this upward move may be delayed further, and we would first return to the 90-95 thousand dollar range. Otherwise, we expect this price breakout to lead us towards the anticipated target of 125 thousand dollars, and as the coin price reaches new highs, actual volatility will also rebound from its current low.

BTC Volatility Weekly Review (June 2 - June 9)

Key Indicators: (June 2, 4 PM - June 9, 4 PM Hong Kong Time)
BTC against USD rose by 0.2% (105.4 -> 105.65 thousand dollars), ETH against USD fell by 0.6% (2,510 -> 2,495 dollars)

Last week the market tested the support level of 99-101 thousand dollars but then quickly rebounded back to the 105-106 thousand dollar range, strongly indicating that the coin price is about to attempt another upward breakthrough to a new high in the short term. If this breakout fails, this upward move may be delayed further, and we would first return to the 90-95 thousand dollar range. Otherwise, we expect this price breakout to lead us towards the anticipated target of 125 thousand dollars, and as the coin price reaches new highs, actual volatility will also rebound from its current low.
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SignalPlus Macro Analysis Special Edition: Quiet CalmThe May non-farm payroll report was robust, adding 139,000 jobs, exceeding Wall Street's expectation of 126,000 jobs. However, the new positions were mainly concentrated in the leisure and healthcare sectors, while government and manufacturing sectors experienced net losses. The data details showed slight weakness, with the unemployment rate rising from 4.19% to 4.24%. If not for the decline in the labor participation rate, the unemployment rate could have approached 4.6%. The non-farm employment data outperformed recent unemployment claims data, with the stock market and U.S. Treasury yields rising in tandem, although hard data has finally begun to align with the weak survey data. Additionally, with geopolitical risks cooling since 'Liberation Day,' along with internal tensions within Trump's camp, the market has once again entered a 'bad news = good news' mode, continuously seeking reasons for further rate cuts by the Federal Reserve.

SignalPlus Macro Analysis Special Edition: Quiet Calm

The May non-farm payroll report was robust, adding 139,000 jobs, exceeding Wall Street's expectation of 126,000 jobs. However, the new positions were mainly concentrated in the leisure and healthcare sectors, while government and manufacturing sectors experienced net losses. The data details showed slight weakness, with the unemployment rate rising from 4.19% to 4.24%. If not for the decline in the labor participation rate, the unemployment rate could have approached 4.6%.

The non-farm employment data outperformed recent unemployment claims data, with the stock market and U.S. Treasury yields rising in tandem, although hard data has finally begun to align with the weak survey data. Additionally, with geopolitical risks cooling since 'Liberation Day,' along with internal tensions within Trump's camp, the market has once again entered a 'bad news = good news' mode, continuously seeking reasons for further rate cuts by the Federal Reserve.
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SignalPlus Macro Analysis Special Edition: TACOEarlier this month, Financial Times columnist Robert Armstrong first introduced the little-known acronym 'TACO', which stands for Trump Always Chickens Out, mocking the president for frequently retreating after initially taking a hard stance. Armstrong suggested that in the face of trade threats from the Trump administration, opposing countries simply need to 'wait and see' to avoid danger. When the president was directly asked about it at a White House press conference, the TACO acronym began to receive mainstream attention, which naturally was not welcomed by the Trump administration. Perhaps in response to this mockery, the Trump administration's stance clearly became tougher in the latter part of last week, with the China-U.S. tensions escalating to headline news.

SignalPlus Macro Analysis Special Edition: TACO

Earlier this month, Financial Times columnist Robert Armstrong first introduced the little-known acronym 'TACO', which stands for Trump Always Chickens Out, mocking the president for frequently retreating after initially taking a hard stance. Armstrong suggested that in the face of trade threats from the Trump administration, opposing countries simply need to 'wait and see' to avoid danger.
When the president was directly asked about it at a White House press conference, the TACO acronym began to receive mainstream attention, which naturally was not welcomed by the Trump administration. Perhaps in response to this mockery, the Trump administration's stance clearly became tougher in the latter part of last week, with the China-U.S. tensions escalating to headline news.
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BTC Weekly Volatility Review (May 26 - June 2)Key indicators: (4 PM May 26 - 4 PM June 2 Hong Kong time) BTC down 4.4% against USD ($110,200 to $105,400), ETH down 2.7% against USD ($2,580 to $2,510) Despite Bitcoin's pullback from its highs over the past week, the price has generally been in a sideways correction and has not affected the overall upward trend. We continue to believe that the market will attempt to break upwards again in the coming weeks or months, potentially pushing us towards the final target of $120,000 to $130,000. Of course, the specific timing is difficult to determine, and if the support level of $99,000 to $101,000 is not maintained, the completion of this upward movement may be delayed until late summer. Currently, we believe that strategically increasing long positions or re-entering can be done at slightly below the support level. If the price does indeed break below $99,000, it may drop to the range of $93,000 to $94,000. Above the price, the first resistance level appears at $108,000 to $109,000, followed by a new high at $112,000.

BTC Weekly Volatility Review (May 26 - June 2)

Key indicators: (4 PM May 26 - 4 PM June 2 Hong Kong time)
BTC down 4.4% against USD ($110,200 to $105,400), ETH down 2.7% against USD ($2,580 to $2,510)

Despite Bitcoin's pullback from its highs over the past week, the price has generally been in a sideways correction and has not affected the overall upward trend. We continue to believe that the market will attempt to break upwards again in the coming weeks or months, potentially pushing us towards the final target of $120,000 to $130,000. Of course, the specific timing is difficult to determine, and if the support level of $99,000 to $101,000 is not maintained, the completion of this upward movement may be delayed until late summer. Currently, we believe that strategically increasing long positions or re-entering can be done at slightly below the support level. If the price does indeed break below $99,000, it may drop to the range of $93,000 to $94,000. Above the price, the first resistance level appears at $108,000 to $109,000, followed by a new high at $112,000.
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BTC Weekly Volatility Review (May 19 - May 26)Key Indicators: (May 19, 4 PM - May 26, 4 PM Hong Kong time) BTC rose 6.8% against USD (from $103,200 to $110,200), ETH rose 7.3% against USD (from $2,405 to $2,580) Congratulations to Bitcoin for reaching a new high! After breaking the previous peak, the price initially surged to $111,900, then fell below the resistance level of $108,250-$109,750 due to Trump's tariff news and significant selling pressure, but has since fluctuated within a narrow range. Given the current situation, we tend to believe that the market will gradually rise in a relatively stable manner (with some possible fluctuations), which could quickly push the price towards the target of $125,000. Active bilateral trading may cause prices to continue to consolidate for a few days, especially if the upcoming Bitcoin conference does not produce a significant impact, but we believe the next price surge will come soon. If the price corrects and falls below the key resistance level of $101,000-$101,000, it may further decline to $93,000-$94,000.

BTC Weekly Volatility Review (May 19 - May 26)

Key Indicators: (May 19, 4 PM - May 26, 4 PM Hong Kong time)
BTC rose 6.8% against USD (from $103,200 to $110,200), ETH rose 7.3% against USD (from $2,405 to $2,580)

Congratulations to Bitcoin for reaching a new high! After breaking the previous peak, the price initially surged to $111,900, then fell below the resistance level of $108,250-$109,750 due to Trump's tariff news and significant selling pressure, but has since fluctuated within a narrow range. Given the current situation, we tend to believe that the market will gradually rise in a relatively stable manner (with some possible fluctuations), which could quickly push the price towards the target of $125,000. Active bilateral trading may cause prices to continue to consolidate for a few days, especially if the upcoming Bitcoin conference does not produce a significant impact, but we believe the next price surge will come soon. If the price corrects and falls below the key resistance level of $101,000-$101,000, it may further decline to $93,000-$94,000.
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SignalPlus Macro Analysis Special Edition: Deal No DealAfter announcing a pause on tariff increases against China, President Trump suddenly posted on social media that EU trade negotiations are 'making no progress', and therefore he 'suggests imposing a 50% tariff on the EU starting June 1, 2025'. Trump pointed out that the EU has 'strong trade barriers, value-added tax, ridiculous corporate fines, non-monetary trade barriers, currency manipulation, and unfair and unreasonable lawsuits against US companies', and believes these measures have led to an 'unacceptable' trade deficit of over $250 billion annually.

SignalPlus Macro Analysis Special Edition: Deal No Deal

After announcing a pause on tariff increases against China, President Trump suddenly posted on social media that EU trade negotiations are 'making no progress', and therefore he 'suggests imposing a 50% tariff on the EU starting June 1, 2025'. Trump pointed out that the EU has 'strong trade barriers, value-added tax, ridiculous corporate fines, non-monetary trade barriers, currency manipulation, and unfair and unreasonable lawsuits against US companies', and believes these measures have led to an 'unacceptable' trade deficit of over $250 billion annually.
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BTC Volatility Weekly Review (May 12–19)Key Indicators: (May 12, 4 PM - May 19, 4 PM Hong Kong Time) BTC down 1.5% ($104,800 -> $103,200), ETH down 5.3% ($2,540 -> $2,405) BTC to USD Spot Technical Indicators: Since the price has entered a higher range ($101,000 to $110,000), market activity, whether high-frequency or daily-frequency, has shown very low volatility. Balanced buying and selling transactions have kept the price well controlled within this range. Considering the market's consistent volatility cycles, we have found that the typical volatility cycle over the past year and a half is around 14 to 20 days, rarely exceeding 20 days, suggesting that market patience may be exhausted in the coming week. We will either attempt to break the historical high again or fall into the $90,000 to $95,000 range for a long-term consolidation.

BTC Volatility Weekly Review (May 12–19)

Key Indicators: (May 12, 4 PM - May 19, 4 PM Hong Kong Time)
BTC down 1.5% ($104,800 -> $103,200), ETH down 5.3% ($2,540 -> $2,405)
BTC to USD Spot Technical Indicators:

Since the price has entered a higher range ($101,000 to $110,000), market activity, whether high-frequency or daily-frequency, has shown very low volatility. Balanced buying and selling transactions have kept the price well controlled within this range. Considering the market's consistent volatility cycles, we have found that the typical volatility cycle over the past year and a half is around 14 to 20 days, rarely exceeding 20 days, suggesting that market patience may be exhausted in the coming week. We will either attempt to break the historical high again or fall into the $90,000 to $95,000 range for a long-term consolidation.
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SignalPlus Macro Analysis Special Edition: AASource: IgniteRatings, X Moody's has downgraded the long-term issuer and senior unsecured debt rating of the U.S. government from Aaa to Aa1, and adjusted the outlook from negative to stable. This downgrade reflects the fact that over the past decade, the proportion of U.S. government debt and interest payments has continued to rise, far exceeding that of other sovereign countries with the same rating. — -Moody's, May 16, 2025 Moody's has downgraded the U.S. long-term credit rating, indicating that U.S. sovereign credit has been removed from the AAA ranks by all major rating agencies. This news was released a few hours after the close of U.S. stocks last Friday and reportedly prompted the U.S. House Budget Committee to quickly advance the 'One, Big, Beautiful Bill' on Sunday night in an effort to minimize potential market shocks.

SignalPlus Macro Analysis Special Edition: AA

Source: IgniteRatings, X
Moody's has downgraded the long-term issuer and senior unsecured debt rating of the U.S. government from Aaa to Aa1, and adjusted the outlook from negative to stable.
This downgrade reflects the fact that over the past decade, the proportion of U.S. government debt and interest payments has continued to rise, far exceeding that of other sovereign countries with the same rating.
— -Moody's, May 16, 2025
Moody's has downgraded the U.S. long-term credit rating, indicating that U.S. sovereign credit has been removed from the AAA ranks by all major rating agencies. This news was released a few hours after the close of U.S. stocks last Friday and reportedly prompted the U.S. House Budget Committee to quickly advance the 'One, Big, Beautiful Bill' on Sunday night in an effort to minimize potential market shocks.
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BTC Volatility Weekly Review (April 21 - 28)Key Indicators: (April 21, 4 PM - April 28, 4 PM Hong Kong Time) BTC rises 8.2% against USD (from 87,500 to 94,700 USD), ETH rises 13.2% against USD (from 1,590 to 1,800 USD) Last week, we saw prices cleanly and quickly break through the key resistance level of 89,000-91,000 USD (in line with the 100-day moving average), faster than our initial expectations (and seemingly exceeding market expectations). Currently, we expect prices to take a slight breather and consolidate within the comfortable range of 92,000-99,000 USD, especially considering the upcoming May Day holiday and local Asian festivals.

BTC Volatility Weekly Review (April 21 - 28)

Key Indicators: (April 21, 4 PM - April 28, 4 PM Hong Kong Time)
BTC rises 8.2% against USD (from 87,500 to 94,700 USD), ETH rises 13.2% against USD (from 1,590 to 1,800 USD)

Last week, we saw prices cleanly and quickly break through the key resistance level of 89,000-91,000 USD (in line with the 100-day moving average), faster than our initial expectations (and seemingly exceeding market expectations). Currently, we expect prices to take a slight breather and consolidate within the comfortable range of 92,000-99,000 USD, especially considering the upcoming May Day holiday and local Asian festivals.
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SignalPlus Macro Analysis Special Edition: He Said, Xi Said...As the United States continues to engage in tariff brinkmanship around the world, Trump recently claimed to have conducted "more than 200" trade negotiations and said he recently spoke with Chinese President Xi Jinping. However, this claim was quickly refuted by the Chinese Embassy in Washington, which stated that "there are no consultations or negotiations between China and the United States on tariffs" and emphasized that "the United States should stop creating confusion." Political analysts believe that low-level communications may continue, but it is doubtful whether any substantive agreement can be reached. The trade embargo currently in effect has dragged down economic growth in the first half of the year. We do not believe that there will be any clear solution to the US-China trade negotiations in the foreseeable future.

SignalPlus Macro Analysis Special Edition: He Said, Xi Said...

As the United States continues to engage in tariff brinkmanship around the world, Trump recently claimed to have conducted "more than 200" trade negotiations and said he recently spoke with Chinese President Xi Jinping. However, this claim was quickly refuted by the Chinese Embassy in Washington, which stated that "there are no consultations or negotiations between China and the United States on tariffs" and emphasized that "the United States should stop creating confusion."
Political analysts believe that low-level communications may continue, but it is doubtful whether any substantive agreement can be reached. The trade embargo currently in effect has dragged down economic growth in the first half of the year. We do not believe that there will be any clear solution to the US-China trade negotiations in the foreseeable future.
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BTC Volatility Weekly Review (April 14 - 21)Key indicators: (April 14, 4 PM -> April 21, 4 PM Hong Kong Time) BTC against USD rose by 3.6% (84,450 USD -> 87,500 USD), ETH against USD fell by 1.9% (1,620 USD -> 1,590 USD) Since the market dipped below the 75,000 USD pivot point after the elections, a week has passed. This week, the coin price has completely stayed above 80,000 to 81,500 USD, further confirming that this double bottom price is a strong support level. Our fundamental view is that the coin price will remain high in the range of 81,000 to 90,000 USD over the next few trading days or even weeks. If the coin price breaks above 91,000 to 92,000 USD, the market will attempt to break through 100,000 USD and then reach new highs again. Conversely, if the coin price falls below 73,000 to 73,000 USD, we will see the price realistically drop to 60,000 to 65,000 USD.

BTC Volatility Weekly Review (April 14 - 21)

Key indicators: (April 14, 4 PM -> April 21, 4 PM Hong Kong Time)
BTC against USD rose by 3.6% (84,450 USD -> 87,500 USD), ETH against USD fell by 1.9% (1,620 USD -> 1,590 USD)

Since the market dipped below the 75,000 USD pivot point after the elections, a week has passed. This week, the coin price has completely stayed above 80,000 to 81,500 USD, further confirming that this double bottom price is a strong support level. Our fundamental view is that the coin price will remain high in the range of 81,000 to 90,000 USD over the next few trading days or even weeks. If the coin price breaks above 91,000 to 92,000 USD, the market will attempt to break through 100,000 USD and then reach new highs again. Conversely, if the coin price falls below 73,000 to 73,000 USD, we will see the price realistically drop to 60,000 to 65,000 USD.
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SignalPlus Macro Analysis Special Edition: The Times They Are a-Changin'Trump’s second term is about to reach its 100th day, but the geopolitical situation has changed dramatically compared to a few months ago. The question is no longer whether the United States will decouple from the world, but how it will decouple; and the United States’ “exorbitant privilege” in the dollar’s ​​role as the global reserve currency system has begun to face substantial challenges. Correlations between assets are breaking down, capital flows are starting to run in the opposite direction, and Bitcoin is (finally) starting to diverge from stocks. The President is even threatening to treat the Fed Chair like a contestant on (The Apprentice), and large U.S. endowments are dumping illiquid private equity assets at the industry’s most difficult time. Have we truly reached a critical turning point in financial history?

SignalPlus Macro Analysis Special Edition: The Times They Are a-Changin'

Trump’s second term is about to reach its 100th day, but the geopolitical situation has changed dramatically compared to a few months ago. The question is no longer whether the United States will decouple from the world, but how it will decouple; and the United States’ “exorbitant privilege” in the dollar’s ​​role as the global reserve currency system has begun to face substantial challenges.
Correlations between assets are breaking down, capital flows are starting to run in the opposite direction, and Bitcoin is (finally) starting to diverge from stocks. The President is even threatening to treat the Fed Chair like a contestant on (The Apprentice), and large U.S. endowments are dumping illiquid private equity assets at the industry’s most difficult time. Have we truly reached a critical turning point in financial history?
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BTC Volatility 2-Week Review (March 31 - April 14)Key Indicators: (March 31, 4 PM - April 14, 4 PM Hong Kong Time) BTC against USD rose 3% ($82,000 -> $84,450), ETH against USD fell 11.1% ($1,800 -> $1,620) Over the past two weeks, despite chaos in other markets, Bitcoin's price has remained quite strong. Last week, the price touched the $74,000 initial resistance level formed since the end of last year's U.S. election twice, subsequently breaking through the mid-term downtrend since January. It is now trapped within a strong support zone of $81,800-$82,300, with strong resistance overhead between $88,000-$90,000.

BTC Volatility 2-Week Review (March 31 - April 14)

Key Indicators: (March 31, 4 PM - April 14, 4 PM Hong Kong Time)
BTC against USD rose 3% ($82,000 -> $84,450), ETH against USD fell 11.1% ($1,800 -> $1,620)

Over the past two weeks, despite chaos in other markets, Bitcoin's price has remained quite strong. Last week, the price touched the $74,000 initial resistance level formed since the end of last year's U.S. election twice, subsequently breaking through the mid-term downtrend since January. It is now trapped within a strong support zone of $81,800-$82,300, with strong resistance overhead between $88,000-$90,000.
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SignalPlus Macro Analysis Special Edition: Red Light, Green LightAfter a week of intense geopolitical offensives by the U.S. against other countries, the market finally welcomed a positive conclusion, as President Trump seems to have made significant concessions, announcing that smartphones, computers, and other electronic devices will be excluded from reciprocal tariffs. The U.S. Customs and Border Protection also subsequently stated that these goods would be exempt from the 10% global tariff imposed on most countries. The Chinese government responded positively, stating that this move is 'a small step towards correcting Washington's erroneous actions and canceling the remaining tariffs.'

SignalPlus Macro Analysis Special Edition: Red Light, Green Light

After a week of intense geopolitical offensives by the U.S. against other countries, the market finally welcomed a positive conclusion, as President Trump seems to have made significant concessions, announcing that smartphones, computers, and other electronic devices will be excluded from reciprocal tariffs. The U.S. Customs and Border Protection also subsequently stated that these goods would be exempt from the 10% global tariff imposed on most countries.
The Chinese government responded positively, stating that this move is 'a small step towards correcting Washington's erroneous actions and canceling the remaining tariffs.'
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SignalPlus Macro Analysis Special Edition: The Art of the DealIs it 'Liberation Day' or 'Liquidation Day'? Macro assets are plummeting across the board, with the Nasdaq index having fallen nearly 25% from its peak, U.S. stocks down 4%, and the Hong Kong stock market plunging 9% this morning, showing signs of a modern-day 'Black Monday.' The trigger for this recent sell-off comes from China's retaliatory measures against the U.S. (such as rare earth export restrictions), yet no domestic stimulus measures have been introduced to offset the impact. China announced a 34% tariff on all U.S. imports starting April 10 and placed 11 American companies on the 'unreliable entity list,' along with other targeted countermeasures.

SignalPlus Macro Analysis Special Edition: The Art of the Deal

Is it 'Liberation Day' or 'Liquidation Day'?
Macro assets are plummeting across the board, with the Nasdaq index having fallen nearly 25% from its peak, U.S. stocks down 4%, and the Hong Kong stock market plunging 9% this morning, showing signs of a modern-day 'Black Monday.' The trigger for this recent sell-off comes from China's retaliatory measures against the U.S. (such as rare earth export restrictions), yet no domestic stimulus measures have been introduced to offset the impact. China announced a 34% tariff on all U.S. imports starting April 10 and placed 11 American companies on the 'unreliable entity list,' along with other targeted countermeasures.
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BTC Volatility Weekly Review (March 17-24)Key Indicators (March 17 4 PM - March 24 4 PM Hong Kong Time) BTC against USD rose by 4.1% (83,500 -> 86,900 thousand dollars), ETH against USD rose by 8.9% (1,900 -> 2,070) Overview of BTC to USD Spot Technical Indicators As the currency price has been quite stable within the range of 81.5-87.5 thousand dollars, last week BTC's actual volatility finally began to decline. On March 24, the market appeared to be testing the trend resistance line of the decline since the late February peak. If it crosses above 87.5-88 thousand dollars, the currency price will retest the resistance level of 91 thousand dollars, and further up, 93 thousand dollars will be a resistance point; if it continues to break through, the market will have enough momentum to test the more critical resistance level of 100 thousand dollars.

BTC Volatility Weekly Review (March 17-24)

Key Indicators (March 17 4 PM - March 24 4 PM Hong Kong Time)
BTC against USD rose by 4.1% (83,500 -> 86,900 thousand dollars), ETH against USD rose by 8.9% (1,900 -> 2,070)
Overview of BTC to USD Spot Technical Indicators

As the currency price has been quite stable within the range of 81.5-87.5 thousand dollars, last week BTC's actual volatility finally began to decline. On March 24, the market appeared to be testing the trend resistance line of the decline since the late February peak. If it crosses above 87.5-88 thousand dollars, the currency price will retest the resistance level of 91 thousand dollars, and further up, 93 thousand dollars will be a resistance point; if it continues to break through, the market will have enough momentum to test the more critical resistance level of 100 thousand dollars.
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SignalPlus Macro Analysis Special Edition: Liberation Day"April 2 will be a day of liberation for America. Countries around the world, friends and foes alike, have taken advantage of us." - Trump said in the White House Oval Office last Friday. Market sentiment has stabilized significantly over the past week, and risk assets have stabilized after several weeks of intense selling pressure, and the Trump administration's recent words and deeds have been relatively mild. However, Trump said in a conversation in the Oval Office last Friday that the United States is preparing to announce "Tariff Liberation Day" next Wednesday (April 2), and will impose retaliatory tariffs on countries and allies that have taken trade actions against the United States.

SignalPlus Macro Analysis Special Edition: Liberation Day

"April 2 will be a day of liberation for America. Countries around the world, friends and foes alike, have taken advantage of us." - Trump said in the White House Oval Office last Friday.
Market sentiment has stabilized significantly over the past week, and risk assets have stabilized after several weeks of intense selling pressure, and the Trump administration's recent words and deeds have been relatively mild. However, Trump said in a conversation in the Oval Office last Friday that the United States is preparing to announce "Tariff Liberation Day" next Wednesday (April 2), and will impose retaliatory tariffs on countries and allies that have taken trade actions against the United States.
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BTC Volatility Weekly Review (March 10 - March 17)Key Indicators: (March 10, 4 PM → March 17, 4 PM Hong Kong Time) BTC against USD increased by 1.5% ($82,300 → $83,500), ETH against USD decreased by 8.2% ($2,070 → $1,900) BTC to USD Spot Technical Indicators Overview The spot price of Bitcoin continued to decline over the past week, but as the price stabilized within the $80,000–$85,000 range, we finally saw actual volatility begin to decrease. Notably, the price hit a recent low last week, and the market has been closely watching price movements in the following days, trying to guess whether the next major volatility will be upward or downward. Considering we have experienced a prolonged period of high volatility, we believe the price will undergo some adjustments and stabilize, expecting support levels around $78,000–$80,000 in the coming week, with recent resistance at $85,000–$86,000, and further up at $89,500–$92,000.

BTC Volatility Weekly Review (March 10 - March 17)

Key Indicators: (March 10, 4 PM → March 17, 4 PM Hong Kong Time)
BTC against USD increased by 1.5% ($82,300 → $83,500), ETH against USD decreased by 8.2% ($2,070 → $1,900)
BTC to USD Spot Technical Indicators Overview

The spot price of Bitcoin continued to decline over the past week, but as the price stabilized within the $80,000–$85,000 range, we finally saw actual volatility begin to decrease. Notably, the price hit a recent low last week, and the market has been closely watching price movements in the following days, trying to guess whether the next major volatility will be upward or downward. Considering we have experienced a prolonged period of high volatility, we believe the price will undergo some adjustments and stabilize, expecting support levels around $78,000–$80,000 in the coming week, with recent resistance at $85,000–$86,000, and further up at $89,500–$92,000.
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