Yesterday, the Fed released the minutes of its meeting three weeks ago. The general content is that officials are in no rush to cut interest rates. They are uncertain about continued price pressures. Recent data has not given them greater confidence that inflation will be reduced to 2019 in the short term. The growth rate dropped to 2%, and some officials expressed their willingness to adopt tighter policies to deal with price pressures assuming inflationary pressures rise further in the future, resulting in some slight retracement of US stocks and cryptocurrencies.
These records are just discussions three weeks ago before the price index was released. The April price index already pointed out that the downward trend of inflation remains unchanged, but the speed is not as fast as the market expected. Many Fed officials and Chairman Powell have also stated that raising interest rates is not considered. At most, the current high interest rates will be maintained for a longer period of time. Therefore, I do not think that the Fed's green meeting will lead to more declines. The current market is only a bullish correction.
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At present, risk assets are in the red because of Nvidia's financial report. It is expected that market sentiment will return to greed. It is observed that US technology stocks can continue to rise in this wave of madness. AI concept stocks will gain another wave of popularity. As the market risk tolerance increases, Commodities such as Bitcoin, which are highly linked, are expected to receive capital inflows.
Ethereum ETF is the hottest topic in the past two days. The review results of VanEck's Ethereum spot ETF will be announced today. The whole market is waiting for the ETH spot ETF news. It is the evening of the 22nd (around 23:00), US time. , it seems that the SEC will not release news until the afternoon or tonight.
How will this result affect the market?
1: Passed. If passed, it will undoubtedly be good for the long term. This can be seen from the capital inflows after the adoption of the Bitcoin ETF. However, it is precisely because of the performance of the Bitcoin ETF that ETH has already shown part of the positive expectations (this It is also one of the reasons why Ether has been pulling in the past two days), so after passing, it is likely to cause short-term selling pressure (after passing, it will rise first and then fall). If it is good, it will be bad.
2: Failed. If it does not pass, the SEC will also review the Ethereum spot ETF applications of ARK, 21SHARES, Hashdex, Grayscale and other companies in the next few days. The reason for failure is that if ETH is classified as a security, then where will the ETH price go? , because the following companies will not pass, but if it is for other reasons and the subsequent expectations still exist, then the currency price is likely to continue to maintain high speculation expectations.
To sum up, ETH’s short-term upside space is not big after a single-day surge of 20%. It is unrealistic to expect a sustained sharp increase. The selling orders after a single-day surge hit a new high in recent months, so it needs to be repeatedly confirmed above 3500. After a period of time, you will have the opportunity to move to a higher position. Don't let your emotions lead you into chasing higher prices due to FOMO.
Bitcoin has returned to the 70,000 mark, which is the result of ETH's 20% surge in a single day. Superimposed on this week, Bitcoin ETFs have once again turned to substantial inflows, making the market strong again. Judging from the overall trend, the current volume is not enough to directly start a violent bull market and enter a new main wave. Short-term shocks are still the main theme. ETFs are gradually changing hands with traditional currency holders. This process will take some time. , the violent bull market may not arrive until after the third quarter. In the long run, the current box is still a bull market relay.
When will the copycat season come? Perhaps it is the topic that many small and medium-sized retail investors are most concerned about. According to previous bull markets, the copycat season will come at the end of Bitcoin’s main rise. If we judge that the current market does not have the momentum to directly start the main rise, , then the altcoin season is obviously still not in full swing, so for building altcoins, it is recommended to gradually participate at a low level. After all, the overall price of altcoins is not too high now, so it is absolutely no problem to open some bottom positions (this is also This is what I have been emphasizing to everyone. After all, if you don’t buy a low-priced currency, you have to wait until it rises before asking if you can pursue it.) I have also sorted out the specific sectors and tokens in the past few days. You can Read the previous articles, don’t be too anxious and nervous. No matter what the situation is, just be aware of it.
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