The U.S. stocks opened higher and moved lower overnight, which directly brought down the cryptocurrency market that was going well. The high correlation between cryptocurrencies and U.S. stocks is still prominent, which also shows that there are still many traditional funds in the current cryptocurrency market. Therefore, such a linkage still needs to be For some days, the decline in U.S. stocks was mainly due to Federal Reserve Chairman Powell’s determination to raise interest rates in May. Most traders are betting that the next three Federal Reserve meetings will raise interest rates by 50 basis points, and the yield on the 5-year Treasury bond. It has exceeded 3%, a new high since 2018, and various signs indicate that the interest rate hike cycle will continue this year. But we can also clearly see that when the US stock market is closed, the currency circle is often relatively strong and independent, indicating that the funds in the currency circle are still optimistic about the future and continue to buy, buy and buy, unlike those traditional funds through various strategies Carry out mechanized transactions and maintain sufficient liquidity in your hands to trade. Therefore, when the stock of traditional institutions is thrown out of the car, the future selling pressure will be significantly reduced, and then it will take some time to get out of the independent market. Be patient.
The governor of the Central Bank of Russia said that he had taken a too tough stance on cryptocurrencies before, and now he should reconsider whether to relax his stance on encrypted assets. The overall strategy is to find a way out after being sanctioned, which is obviously a good thing for the currency circle.
European legislators will discuss tax issues in the WEB3 era on April 25, which is to prepare for the vigorous development of blockchain. The so-called currencyless blockchain cannot realize WEB3, a blockchain with currency circle attributes. It is the real blockchain, and the leaders of global powers have already seen the future of this market.
The Australian financial regulator plans to start encryption supervision in 2025. The speed of the currency circle VS the traditional speed is not the same level. Standing in the current currency circle and thinking about 2025, you can’t imagine what the future will look like, but fortunately Australia is determined to embrace encrypted.
The governor of Mexico’s central bank said that the central bank’s digital currency will be ready within 3 years, and cryptocurrencies have no clear legal support. It seems that the attitude of the Mexican central bank is still to vigorously develop traditional finance, rather than fully embrace the currency circle like those rich people.
The Bahamas has allowed the use of encrypted assets to pay taxes since this year, and can also use the Bahamas legal digital currency to access encrypted assets, which means that in the Bahamas, encrypted assets have been connected with legal digital currency and entered a purely digital economy system.
The US state of Tennessee is looking for a custodian agency to hold bitcoin and cryptocurrencies on its behalf. The state government is not confident that it can keep encrypted assets on its own. It can be seen how difficult it is to store and custody encrypted assets. Investors who do not understand the mechanism behind it, or Try to put coins on big exchanges, after all, there is a professional wallet team to help you manage coins.
Luxury supplier SFLMaven accepts bitcoin as payment and intends to buy bitcoin to put bitcoin on its balance sheet. Another long-term holder is coming in, but it is estimated that this institutional buying volume will not be very large.
The Morgan Stanley report stated that the Bitcoin Lightning Network is currently better than Visa, and that cryptocurrencies will be widely used for payments in the future, and at the same time, as the adoption rate increases significantly, it will lead to a decrease in volatility. The madman believes that Bitcoin will enter a relatively stable state in a certain range in the future, but at that time it may already have a market value of tens of trillions of dollars.
Coinbase introduces a cryptocurrency credit card in the US that offers 4% back in cryptocurrency on every swipe, with no processing fees and no annual fees. It’s so comfortable, it’s equivalent to 40% off everything. If I were an American, I would definitely use this card. This will increase the pool of funds for cryptocurrencies.
Since December last year, the DEX trading volume has been declining, and it began to pick up last month. Therefore, it can be basically confirmed that DEX tokens have entered the bottom range, and it will be difficult to get worse in the future. It is a medium and long-term participation opportunity.
ARK Fund sold Tesla and bought Robinhood. This is not optimistic about Musk. It sells Twitter first and then Tesla. Is it worried that Musk will collapse the stock prices of all related companies?
Panic 26, again close to extreme panic.
Bitcoin: The stock of Bitcoin on the exchange has reached the lowest level in more than 4 years, and it has been withdrawn by big fish and small fish. The future selling pressure of Bitcoin will be particularly small. Yesterday, the whales withdrew 7831 bitcoins again. With a value of 330 million US dollars, this trend is not over. We are not afraid of selling traditional funds, because the consensus in the industry is enough to support the value of Bitcoin. It is estimated that the US stock market will still have a low point in the evening. Maybe there will be an opportunity to get on the bus. There is no need to panic when it falls sharply. It is not so easy to effectively fall below 40,000.
Ethereum: Brother Sun transferred 38,340 ETH to Binance yesterday, which doesn’t seem to be a good sign. Three Arrows Capital also transferred 5,000 coins into the exchange. Let’s just think that Brother Sun is cashing out to go to the “Bo Federal Reserve”. In the short term, the weak linkage will continue.
TRX: Brother Sun officially established the Federal Reserve Bank of China and issued an algorithmic stable currency USDD, backed by TRX, which was officially launched on May 5. As a result, TRON has pulled up a wave, and the probability of continuous increase in the short term is not high, and speculation is the main reason.
ETC: There are still 3 days and 12 hours to reduce production, and the production will be reduced by 20%. It has weakened significantly recently, and the expectation of boosting is not too strong. There may be a chance to rebound after the production reduction.
SHIB: The Ethereum giant Bombur continues to buy SHIB, which is worth $1.27 million. The recent trend is not bad, but you can wait for the right side to come out before participating.
There is nothing to add. If the U.S. stock market crashes at night, remember not to panic. If you have the ability, consider going in when the panic is extreme. After the U.S. stock market is closed on the 6th, the volatility will drop sharply.
Disclaimer: The article only represents the author’s personal views and opinions, and does not represent the objective point and position of the block. All content and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and blocker will not be responsible for the direct and indirect losses caused by investors’ transactions.
This article[Trends by Madman]It is estimated that the US stock market will still have a low point at night, and maybe there will be opportunities to get on the bus first in the blocker.