BTC spot ETF has experienced net outflows for three consecutive weeks, and the market has fluctuated and fallen. The market is focused on the Federal Reserve's monetary policy meeting to be held on May 2, and Powell will speak after the meeting; on May 3, the United States will release the non-farm payroll report. The BTC ETF and ETH ETF issued by Huaxia will be issued on April 29 and listed on the Hong Kong Stock Exchange on April 30. This is the first time such products have been launched in the Asian market.
ETH rose yesterday, and the ETH/BTC exchange rate rebounded to above 0.051, driving the rise of Layer2 and Restaking sectors. ETH's rise failed to continue today, but the price of tokens in the Restaking sector remained stable after rising.
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Sector changes: Restaking (ETHFI, SSV)
The Restaking sector rebounded the most strongly amid the rise of ETH. ETHFI and SSV also maintained a relatively stable price amid the decline of ETH today. Yesterday, the TVL of etherfi exceeded 4 billion US dollars, with a daily increase of 5%. Renzo (REZ), a project on the same track, will also open airdrops soon. The market focuses on the Restaking sector.
Factors Affecting the Market Outlook
The change in the ETH/BTC exchange rate will be a decisive factor in the general direction of the entire ETH ecosystem. In the past year, the strengthening of BTC prices has caused the ETH/BTC trading pair exchange rate to fall by -20%. In the past week, the exchange rate has rebounded by +5%. The expectation of the ETH spot ETF is that whether the exchange rate can be raised again will be the key to whether the ETH ecosystem and even most Altcoin can start to rise.
The continuous inflow and stability of funds in the restaking track are also very critical. In the initial development stage, if a major security incident occurs in a well-known project on the track, the impact on the project may be fatal and will have a huge negative impact on the development of the entire track.
The sectors that need to be focused on in the future: ETH Layer2
The ETH/BTC exchange rate has risen above 0.051 again. Whale such as Justin Sun and Jihan Wu bought a large amount of ETH during the market decline, perhaps to hype up the expectations of the ETH ETF on May 23 and the future ETH Prague upgrade. Led by the rise of ETH yesterday, OP, ARB, STRK, and METIS all saw a significant increase.
Specific currency list: OP, ARB, STRK, METIS
The Ethereum spot ETF that everyone is eyeing now may be approved in May, which will definitely make Ethereum more prestigious and influential. You can refer to the grand occasion when the Bitcoin ETF was approved.
In November, the US election will set off a wave of vote-gathering in the crypto space. The candidate Kennedy said that if he is elected, he will invest the entire US budget in blockchain, which is simply a big pie in the sky for the future of cryptocurrency.
The Federal Reserve may cut interest rates twice this year, which will undoubtedly attract more traditional funds into the crypto and boost the crypto market. When it comes to the Fed's interest rate cut, there is no need to worry too much. There are still several months to the end of the year, and no one can predict how many times the interest rate will be cut. However, Rick Rieder, the boss of BlackRock, thinks that the Fed may cut interest rates twice this year. He thinks that inflation is slowing down, and bond investors can take a breath. BlackRock has adjusted its strategy and is ready for long-term layout.
Everyone originally expected that there would be three rate cuts this year, but the core CPI in the United States was a bit high last month, and inflationary pressure has not subsided, so the rate cut may be delayed by a month. However, Rieder still insisted that there will be one or two rate cuts this year, and it may start in September.
With so much good news, the Bitcoin bull market will definitely go further and more steadily! Don't get washed out! The big whales are all buying, so don't sell easily, especially the low-priced chips in your hands. Hong Kong's ETFs have all been approved, and anything can happen in the future. The technical indicators don't show anything special now, it's just sideways fluctuations, and the Altcoin are also up and down without any improvement. But the current price is really good, you can buy it appropriately. Of course, I'm not going to let you buy it without thinking, just buy according to your actual situation. If you have more bullets, buy more, if you have fewer bullets, buy less, if you have a full warehouse, just lie down, drink tea, go out for a trip, and see the beautiful mountains and rivers of the motherland.
Later, I will bring you analysis of leading projects in other tracks. If you are interested, you can click to follow. I will also organize some cutting-edge consulting and project reviews from time to time. Welcome all like-minded people in the crypto to explore together. If you have any questions, you can comment or send a private message. All information platforms are Tuanzi Finance .
