BTC Market: Let’s look at the macroeconomics first. The global economic downturn is affecting Bitcoin’s performance, especially after the S&P 500 failed to maintain the all-time high of 5,320 points set on March 21. Uncertainty surrounding the Fed’s 2024 interest rate decision is causing investors to lose confidence; rate cuts are generally seen as positive for risk assets such as Bitcoin, and there is only an 8% chance of a rate cut at the Fed’s May 1 meeting.

Data from top Bitcoin traders suggests a decline in preference for leveraged long positions, which is distinct from an increase in comfort among shorts. This shift may stem from multiple asset classes hitting all-time highs simultaneously, including gold, U.S. stocks, Bitcoin, Japan’s Nikkei 225 and live cattle, signaling expectations that the U.S. dollar will weaken against scarce resources.

The waning interest from leveraged Bitcoin bulls should not alarm investors, nor should it be a sign that Bitcoin will trade below $69,000, as it could reflect broader recession fears and external pressures

Let’s take a look at the market: In terms of news, pay attention to the number of unemployment claims announced by the U.S. Department of Labor at 8:30. The previous value was 210,000 and the expected value is 212,000. If the announced value is greater than the expected value, it will be negative for the US dollar. It is bullish for risk assets. This time point is also about half an hour after the four-hour closing line. My personal view is to go short at high prices and wait until he announces the value. Pay attention to the support position near 67580-65800 US dollars and the resistance position above 71900-73000 US dollars. , personal suggestions are for reference only #BTC🔥🔥🔥🔥 #BTC行情