1. Market Review

Fed Chairman Powell said that if the data continues to be stronger than expected, the Fed will definitely raise interest rates more; 2023 is expected to be a year when inflation declines significantly; inflation will not be "close to 2%" until 2024; FOMC's forecast depends on Economic data coming up; right now the labor market is at least at full employment. The speech overnight was hawkish, and the market started again after the flop. Pay attention to the announcement of CPI on the 14th.

According to data monitoring, the median weekly gas price of Ethereum reached 28.15 gwei, which is the highest point in the past half year and has almost tripled since the bottom. In addition, in the past 24 hours, the median Gas of Ethereum reached 34gwei, which is the highest in the past three months. In addition, according to OKLink data, the number of non-zero addresses on the Ethereum chain exceeded 94 million, and the total number of ETH2.0 pledged addresses exceeded 94 million. 527,000, both record highs. Ethereum's status as the leading public chain has once again been demonstrated. It is believed that as the market picks up and becomes more active, the effect of deflation will become more and more significant, which will be conducive to the maintenance of long-term currency price stability.

2. Market hot spots:

The SEC Examination Department has listed crypto assets and other emerging technologies as a priority for 2023. "The department will examine broker-dealers and RIAs that use emerging financial technologies or adopt new practices, including technology and online solutions, to meet compliance and marketing needs and provide services to investor accounts." As the market recovers, can the Bitcoin spot ETF, which has been hyped for several waves, gradually land? Once the crypto market is compliant, it will be a huge increase for the market.

3. Market analysis

（1）BTC：

Overnight, the market surged again, mainly due to the market's lifting of uncertainty expectations for the Fed's Powell's speech overnight, which triggered a bullish rebound. At present, the four-hour trend line support emphasized before has been maintained in the short term, and 22,600 is still a short-term support level. From the daily line, yesterday's closing was trying to recover the seven-day line, and today it is stabilizing around the 7-day line of 23,200. Focus on today's closing price. If it stabilizes on the 7-day line, then tomorrow will turn to bullish thinking. If the idea breaks again, you need to pay attention to where you came from and where you will go back. As the saying goes, one step forward will open up new horizons, and one step back will lead to a surprise attack.

（2）ETH：

Ethereum surged overnight to test the neckline pressure zone, the pressure zone is 1680-1700, this position is critical, if the volume breaks through, a new round of pull-up market will start, otherwise it will be blocked and fall back, the support band below is 1640-1615, the idea is to approach the pressure zone in the short term, and the volume breaks through and then exit. The pressure level is 1700, and the support level is 1630.

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