Good morning, everyone. Let’s do a simple recap of the market from last night to now.
The Federal Reserve raised rates and the content of Mr. Waller’s remarks was overall hawkish. For the market, this was in line with expectations. The Fed raised interest rates by 25 basis points to 3.75%–4.00%, which is the first rate hike in more than three years, and it also hinted that there could be further tightening again later this year. After that, U.S. stocks pulled back, which is definitely not good news for the crypto market. With interest rates moving back up, the cost of capital increases, making it harder for the broader market to sustain consecutive gains. We’ll need to continue monitoring how the U.S. dollar and U.S. Treasury yields react.
Although the broader market saw a small rebound, the strength wasn’t that strong. So first, watch whether the broader market can hold below around 75,000. If it can hold, there’s still a chance to move back toward 78,000. Otherwise, if 75,000 is broken again, then pay attention to the area around 73,000.
ETH’s overall trend is pretty similar to the broader market. While it’s still trading within its cycle range, it’s comparatively better than the broader market. So watch whether it can hold around 2,350. If the broader market breaks below 65,000, then Ethereum may also break out of its cycle consolidation zone and move lower again, with the area around 2,250 to watch.
Personally, I think today should mainly be about cautious waiting. The Fed has just released a tighter signal, and the regulatory bill has also hit some twists and turns. At a time like this, unless there’s good news that changes things, the broader market is likely to remain choppy in the short term. If you still have an empty spot position, you can consider continuing to buy in batches, prioritizing popular sectors and major coins. For derivatives, try to keep it intraday for short-term swings and lower leverage. Therefore, for now, I suggest monitoring the 75,000 support area in the broader market and also the continued performance of U.S. stocks tonight. Then, after the market has digested the negative news, decide whether to add to your position.
$BTC $ETH
#BTC #ETH
The Federal Reserve raised rates and the content of Mr. Waller’s remarks was overall hawkish. For the market, this was in line with expectations. The Fed raised interest rates by 25 basis points to 3.75%–4.00%, which is the first rate hike in more than three years, and it also hinted that there could be further tightening again later this year. After that, U.S. stocks pulled back, which is definitely not good news for the crypto market. With interest rates moving back up, the cost of capital increases, making it harder for the broader market to sustain consecutive gains. We’ll need to continue monitoring how the U.S. dollar and U.S. Treasury yields react.
Although the broader market saw a small rebound, the strength wasn’t that strong. So first, watch whether the broader market can hold below around 75,000. If it can hold, there’s still a chance to move back toward 78,000. Otherwise, if 75,000 is broken again, then pay attention to the area around 73,000.
ETH’s overall trend is pretty similar to the broader market. While it’s still trading within its cycle range, it’s comparatively better than the broader market. So watch whether it can hold around 2,350. If the broader market breaks below 65,000, then Ethereum may also break out of its cycle consolidation zone and move lower again, with the area around 2,250 to watch.
Personally, I think today should mainly be about cautious waiting. The Fed has just released a tighter signal, and the regulatory bill has also hit some twists and turns. At a time like this, unless there’s good news that changes things, the broader market is likely to remain choppy in the short term. If you still have an empty spot position, you can consider continuing to buy in batches, prioritizing popular sectors and major coins. For derivatives, try to keep it intraday for short-term swings and lower leverage. Therefore, for now, I suggest monitoring the 75,000 support area in the broader market and also the continued performance of U.S. stocks tonight. Then, after the market has digested the negative news, decide whether to add to your position.
$BTC $ETH
#BTC #ETH