During the weekend, domestic and foreign financial markets were closed, and the cryptocurrency market experienced two days of recovery.
My weekends are spent shopping with my family and eating to kill time. Now that I’m full and satisfied, I can sit down and review my thoughts.
Follow the flies to find the toilet, follow the bees to find the flowers, and follow the operations of the main funds in the market and you will always get the desired results.
Bitcoin's trend is healthy and stable, basically oscillating around the upper and lower edges of the box.
As long as there is no strong breakthrough in the short term, the rebound trend will be the main focus. Short-term players will pull back to take the lead and sell high, which are the main operating rhythms of this box-shaped oscillation structure.
Bitcoin was officially halved on April 20. From now on, mining will become increasingly difficult and the cost will also increase significantly.
For funds in the mining circle, mining efficiency and capital cost return rate will be considered.
Maybe it will be beneficial to the altcoin market in the short term!
The sector with the largest increase in the past two days is the AI sector.
TAO rose 7.57% in 24 hours and is currently priced at $471.9;
FET rose 8.41% in 24 hours and is currently priced at $2.417;
AGIX has increased by 10.11% in 24 hours and is currently priced at $0.988;
ARKM has increased by 23.6% in 24 hours and is currently priced at $2.184;
WLD rose 12.35% in 24 hours and is currently priced at $5.623.
The stock with the largest increase is arkm in the AI sector, which is also the stock with the largest adjustment range in the entire sector.
I used technical indicators to draw a line. The short-term 2.2 is an important short-term pressure point, so it is not suitable to continue chasing.
Next week will be a busy period for the release of earnings reports by all U.S. technology companies. There will most likely be opportunities for a pullback, and it is unlikely that the market will go in a V shape directly from this position.
Short-term friends can make a high sell, but long-term friends don’t need to consider it.
Secondly, the coin that has rebounded sharply in the past few days is JTO from the SOL ecosystem. This coin was recommended to you in an article a few days ago. It has rebounded a lot in the short term, and it is recommended to take profit in the short term.
JTO is the governance token of the Jito Network, a Solana liquidity staking service provider with an open source Solana validator client that allows stakeholders to earn Solana staking rewards and obtain MEV through its MEV software suite.
JTO and SSV, the two projects that are benchmarked against the Ethereum ecosystem, have many similarities and benefit from the prosperity of the entire SOL ecosystem.
SSV has not taken off in the short term because the Ethereum ecosystem is still lukewarm. Let’s keep going!
Let's talk about Ethereum ETH. The overall trend of Ethereum is still obviously downward, and it has not yet stepped out of the pressure line of the upward trend. In the short term, it is still weak.
The overall rebound of the Ethereum ecosystem is also relatively weak. Over the weekend, I shared with my friends in the community the underlying logic behind this round of Bitcoin's strength, as well as the reasons for the poor performance of Ethereum.
Take Bitcoin as an example
This round of rise is mainly driven by the approval of the US Bitcoin spot ETF, as well as inflation and war risk aversion.
Ethereum and other digital currencies do not have the properties of safe haven and anti-inflation, so their price performance is not that strong. They are just following the trend. The underlying understanding that altcoins really want to rise sharply is that they must wait until the interest rate cut and the funding situation is sufficiently ample, and only then will they usher in a general rise in the Davis double-click market.
This should be the fundamental reason for the current rise in Bitcoin and the sharp drop in altcoins. Iran vs. Israel are just consequences, not the main reasons.
As for the targets we bet the most on, we will not share them here, as they are also the core value of our small circle.
Thank you for your attention and likes