This morning, Trump and Musk's Space live broadcast once aroused the enthusiasm of the crypto. Musk previously advertised that this conversation was unscripted, unrestricted in subject matter, and very interesting, which attracted a lot of attention. The live broadcast was once postponed for half an hour due to the high popularity. During the two-hour live broadcast, the popularity of related topics also reached its peak, and 160,000 related memes appeared. Some of the more popular ones include Trump's $maga declaration when he returned to Twitter, and $enjoy sent during the live broadcast. When the two talked about being shot, Musk also teased whether Trump shouted $fight three times after being shot. Throughout the live broadcast, Trump showed his strong eloquence, and Musk repeatedly said $yeah, resulting in the generation of hundreds of new memes of $yeah, which circulated on various chains. I looked at it and most of them rose several times.
However, although the conversation was interesting, there was almost no mention of cryptocurrency or meme topics throughout the conversation. They discussed more about energy policy, artificial intelligence, climate, immigration, government spending, education, high-speed rail, shootings and other issues. Musk also suggested that Trump set up a government efficiency committee in the future and expressed his willingness to join it to help. Trump also slammed Harris and Biden in the live broadcast, calling Harris incompetent and a lunatic on the extreme left, while Biden was described as "close to a vegetative state." Overall, this conversation did not have a significant positive impact on the crypto market, because after the event, Trump's winning rate on polymarket did not increase, still lagging behind Harris 46:52, but it only triggered some new memes.
Macroeconomics:
The United States has a lot of important data to be released this week, including PPI on Tuesday, CPI on Wednesday, and retail and employment data on Thursday. The United States is now at risk of recession, so Thursday's retail and employment data may be more important than inflation data. The market's demand for macroeconomics has also changed. In the past, everyone expected an economic downturn, a decline in employment, and an increase in unemployment, because this may accelerate the arrival of interest rate cuts and monetary easing, but now everyone no longer cares about inflation data. If the employment and unemployment data are not good, everyone will shout recession, and then all assets will suffer. Therefore, all the following data will be positive as long as they meet expectations, and any data that exceeds or falls short of expectations will be interpreted by the market as a recession or a factor affecting interest rate cuts. I expect the market to be significantly affected by macro factors this week, and volatility will be very high. Everyone should try to avoid leverage operations. In the market with violent fluctuations like last night, it is very risky to play contracts.
In the currency market:
Last night, Bitcoin and Ethereum ETFs had net inflows of $27.8 million and $5 million, respectively. The two markets basically maintained a balance of funds, especially Ethereum. The selling pressure on ETHE disappeared in less than two weeks. There was no outflow of funds from ETHE last night, which means that the most difficult days after the ETF was passed are over. ETH/BTC also rebounded a lot last night, exceeding 0.045 at one point. The benefits of ETFs will be reflected in the price in the future, so I am still optimistic about ETH's future performance. Bitcoin is more affected by macro factors, with large short-term fluctuations, but it is still in the bull market channel in the long run. Xiaohei, the founder of bitmex, said that after Bitcoin broke through 70,000 and Ethereum broke through 4,000, the cottage season is coming.
Speaking of the Altcoin market, it felt like a riot of demons last night. Although the market did not move much, many sectors could no longer be suppressed. For example, #brc20, $sats and $ordi all took off, and #btcfi-related infrastructure also performed strongly, such as $ords, which doubled in recent days and tripled from the tragic bottom of 85. The modular track also rose generally, $saga, $dym and $tia all rose by about 20% last night. In terms of public chains, under the leadership of $sui, various projects have also begun to find their new positioning. For example, the project known as the "Sol Killer". Last night, bigwigs such as AK Suzhu also began to support $sui, Xiaohei is optimistic about $apt, and other single-chain public chains are also doing well. The old brand #defi has also begun to recover. Projects like $crv, which have not risen for thousands of years, have risen by 40% in recent days. $aave, $mkr, $snx and $dydx have also improved. In short, the secondary market shows signs of starting up. If the broader market can move upward, a copycat bull market may really arrive. My hunch this time is very strong and I will not be wrong!
The peak stage of the bull market is coming soon. With a clear direction, profits can be easily grasped! The market waits for no one, and opportunities are reserved for those who are prepared!
Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.
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