The US April CPI data was released on May 13, showing actual values lower than market expectations, significantly strengthening the market's expectations for the Federal Reserve to cut interest rates within the year.
With multiple favorable factors such as the slowdown of the Federal Reserve's Quantitative Tightening (QT) process, the return of fiscal funds during tax season, and the continuous outflow of funds from money market funds from Reverse Repurchase Agreements (RRP), macro liquidity has experienced a phase of easing, leading to a significant inflow of funds into the crypto market, driving strong rebounds in mainstream crypto assets like BTC, ETH, and SOL.
From the perspective of market structure, the participation of institutional investors continues to rise.
Bitcoin futures open interest (OI) remains high, currently accounting for 3.4% of the total circulation of spot assets, indicating a strong willingness of institutional funds to hold positions.
Meanwhile, the activity in the ETH and SOL derivatives markets has also increased, with liquidity significantly improving.
It is worth noting that analyst Chloe pointed out that current short-term holders of BTC and ETH are generally in a state of high profitability, and the leverage positions in the derivatives market are highly concentrated.
Once prices reach key technical support or resistance levels, it may trigger a large-scale profit-taking and forced liquidation chain reaction, exacerbating the short-term volatility risk in the market.
#加密圆桌会议要点 #贸易战缓和 #币安Alpha上新
With multiple favorable factors such as the slowdown of the Federal Reserve's Quantitative Tightening (QT) process, the return of fiscal funds during tax season, and the continuous outflow of funds from money market funds from Reverse Repurchase Agreements (RRP), macro liquidity has experienced a phase of easing, leading to a significant inflow of funds into the crypto market, driving strong rebounds in mainstream crypto assets like BTC, ETH, and SOL.
From the perspective of market structure, the participation of institutional investors continues to rise.
Bitcoin futures open interest (OI) remains high, currently accounting for 3.4% of the total circulation of spot assets, indicating a strong willingness of institutional funds to hold positions.
Meanwhile, the activity in the ETH and SOL derivatives markets has also increased, with liquidity significantly improving.
It is worth noting that analyst Chloe pointed out that current short-term holders of BTC and ETH are generally in a state of high profitability, and the leverage positions in the derivatives market are highly concentrated.
Once prices reach key technical support or resistance levels, it may trigger a large-scale profit-taking and forced liquidation chain reaction, exacerbating the short-term volatility risk in the market.
#加密圆桌会议要点 #贸易战缓和 #币安Alpha上新