Bitcoin market analysis丨2022-5-27

[Yesterday's review] U.S. existing home contract sales fell for the sixth consecutive month in April, the largest decline since 2018 Timely impact of interest rates. There is also a data, the US Q1 GDP was further revised down, shrinking 1.5%, less than the initial value of shrinking 1.4%. On the flip side, however, these data are less than expected, and the Fed may rethink its policy after September because of poor economic data.

Last night, U.S. stocks closed higher across the board. The Dow closed up 1.61% at 32,637.19 points, the S&P 500 closed up 1.99%, and the Nasdaq closed up 2.68%. The dollar index fell below the 102 mark again, and finally closed down 0.343% at 101.77. The crypto market has not performed well and has been decoupled from the rising trend of US stocks, but the downward trend is still relatively strongly correlated. Reflecting on the market level, more funds in the crypto market are now waiting to see, and only when the market confidence recovers, these funds will enter.

When I woke up in the morning, I saw the news of the arrest of Stepn's Chinese team in the circle of friends, and then the whole circle was boiling again. The whole Chinese community was discussing GMT. I have clearly stated on Twitter before about the X TO E model. If it is used as a means of drainage, it is completely okay, but if it is used as an end, then because there is no other external value to capture, the result is a death spiral. The private placement cost of GMT is 0.005, and there are still more than 100X times, and the price will not be able to sustain over time. So if you are FOMOed at a high position, it is obviously unreasonable.

In the past two days, everyone has been summing up and found that one indicator is particularly useful, that is the Zhu Xiaohu indicator. Every time the bull market is at its peak, these big guys will always come out to buy something, and then they can't restrain the little excitement and excitement in their hearts. I will amuse you in public and make you FOMO. Xu Xiaoping of that year, Zhu Xiaohu of this year, etc. are all examples. In fact, these big guys don't have much time to care about the currency circle, and they are just FOMOed by the market.

Jump out of your sight, stand a little higher and look at this circle again. In fact, it is still in the stage of building and consolidating the underlying agreement and foundation. That is to say, if the foreigners have not built the 0-1 thing well, it will be difficult for entrepreneurs to achieve From 1-10, so there is a chance that everyone needs to keep their eyes open and take a good look at who is doing things and who is cheating. The public chains or projects that follow people’s opinions will not last long, and the public chains or projects that like to raise prices through hype will not last long. Now you think that those successful projects may not be successful in the future, and now you think that the projects that you look down on will fail in the future. It will fail, so in the next bull market, the current top ten projects will continue to shuffle until the infrastructure is stable.

Fed Vice Chairman Brainard said the Fed is considering various means to mitigate the impact on commercial bank deposits if the U.S. government decides to issue a digital dollar. Brainard said on Thursday that while deposits will inevitably decline, the Fed is looking for ways to avoid a sharp drop in deposits. Industry lobby groups including the American Bankers Association and the Banking Policy Institute have called on the government to hold off on launching a central bank digital currency, fearing it would divert money from the banking system and reduce credit to businesses and households. "We've been doing a lot of thinking in terms of the potential impact on deposits, and any future developments in the digitalisation of the financial system will lead to a reduction in the use of cash and a reduction in bank deposits," she noted.

The crypto market is at a glance today. The Terra governance system voted to pass the plan to destroy 1.3 billion UST tokens (about 11% of the total supply chain); Binance, OK and many other exchanges support the terra airdrop and token migration; Stepn announced an inventory of the mainland Users, will stop GPS and IP location services on July 15; former Binance executives and investment team announced the launch of $100 million venture fund Old Fashion Research;

[Bitcoin market analysis] Bitcoin needs a weekly rebound and correction, and the market will not allow it to rebound, so this is in line with our expectation of a worst mid-term rebound in June. The daily level is still adjusting, lacking an obvious support signal. The 4-hour level oscillating range continues to hover. So far, there have been 6 times of support. After the market adjustment, there is a high probability that the weekly line will give a satisfactory answer.

[Disclaimer] The above content does not constitute any investment advice. Please treat the blockchain rationally and do not blindly trust others. The digital asset market is extremely volatile and risky, and you need to be highly cautious when entering the market.

[Risk Reminder] Digital assets fluctuate greatly and the risk is extremely high, please participate with caution, put an end to the full warehouse stud, and refuse loan leverage;

❤Coin exchange: https://linktr.ee/btc18806