The crypto market rebounded across the board, how long can it last this time?

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Before the holiday, the United States released the non-farm payrolls report for May. The report showed that the number of non-farm payrolls in the United States increased by 390,000 in May, compared with an estimated 325,000, and the previous value of 428,000. The U.S. unemployment rate was 3.6% in May, compared to expectations of 3.5% and the previous value of 3.6%. This data is simply too good. I have said many times before that the better the non-agricultural data, the more dangerous it is for the financial market, because the Fed's tightening attitude will refer to this data. The better the employment data, the healthier the US economy, and If the U.S. economy improves, the chances of the Federal Reserve suspending interest rate hikes in September are slimmer, so U.S. stocks closed down 1.63 percent on Friday.

And this week, there is a more important data to be announced, namely the CPI data in May. This is the core data of inflation, which can directly affect the Fed's interest rate hike plan. At present, experts predict that the inflation data will drop slightly, and the year-on-year growth rate will increase from April's 8.3% fell to 8.2%. The record gasoline price may be the main factor. The core CPI may return to below 6%, falling to 5.9%, and prices continue to face pressure. To be honest, this estimate is a bit far-fetched to say that it is a slight decline. It is obviously unchanged. Anyway, this predicted value should leave room for the performance that exceeds expectations. It depends on the final value of this Friday. If it greatly exceeds expectations, then inflation will peak, which will be a great incentive for the market, and will also provide favorable conditions for the suspension of interest rate hikes in September, so we must focus on it.

On June 4, the Federal Reserve announced its first-quarter 2022 financial report. While its total assets rose to $8.9 trillion, its holdings of U.S. Treasuries and mortgage-backed securities suffered a book loss of more than $330 billion. This book loss There is a high probability that it will turn into an actual loss due to the shrinking of the balance sheet in June. Therefore, for an independent institution like the Federal Reserve, excessive tightening policies will also deal a great blow to itself. We do not believe that the Federal Reserve will go all the way to the dark. s reason.

Discord has been stolen frequently recently, and now there is a problem with dis's credibility. After BAYC worth 200ETH was stolen the day before yesterday, BAYC officials directly bombarded discord as not suitable for the web3 community because it is too insecure, and said that we A more secure social platform is needed. This should be a good direction in the future. Now many public chains are working on web3 social projects. It turns out that because of too many low-value social media, it is difficult to communicate with platforms such as WeChat, whatsapp, and discord. Competition, with the emergence of high-value NFTs, I believe that there will be one or two platforms that can run out in the future, and this track can be paid more attention.

According to a recent study conducted by The Economist, 36.6% of respondents want Bitcoin or other cryptocurrencies to be legalized. 43.5% of respondents were neutral, while 17.9% disagreed with the move. This survey is actually very telling. Imagine if this survey was done 3 years ago, most people would have thought that encryption was a scam for the first time, but now that cryptocurrencies are being accepted by people, I believe this proportion will increase in the next 3-5 years. High, of course it is possible that cryptocurrencies have become an integral part of the global economy.

According to L2BEAT data, the current total locked volume of Ethereum Layer 2 has exceeded 5 billion US dollars, and the temporary report is 5.05 billion US dollars, an increase of 9.92% on the 7th. Among them, the top three locked positions are Arbitrum ($2.5 billion, an increase of 0.73% on the 7th), dYdX ($965 million, an increase of 0.89% on the 7th) and Optimism ($922 million, an increase of 89.66% on the 7th). OP’s issuance of coins has brought a lot of funds to Optimism. I think this data will continue to grow. At present, OP​ is still very suitable for short-term traders.

The ApeCoin community's proposal to "Keep ApeCoin in the Ethereum Ecosystem" is now open for governance voting, which ends at 9:00 on June 9th. The ApeCoin DAO believes that, at least for now, ApeCoin should remain in the Ethereum ecosystem, rather than migrating to other networks such as Layer 1 chains or sidechains that are not protected by Ethereum. I think this is reasonable. For ape holders, the value of the Ethereum chain is definitely higher than that of other public chains. Therefore, if other l1 public chains want to compete, they must show enough sincerity.

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BTC: Bitcoin finally achieved its best performance once, ending the weekly trend of 9 consecutive yin. Although the weekly trend of last week was ugly, it did not affect the subsequent market outlook, but from the perspective of the disk trend, the weekly trend of The line level and the daily line level are now in the rebound mode, which coincides with the rebound in June that we told you as early as May. However, many students are worried about raising interest rates and shrinking their balance sheets. In fact, it is unnecessary. The shrinking of the table is at the macro level, which affects the overall environment and sentiment, but as far as the currency circle is concerned, it also has its own micro level.

At the 4-hour level, after 2 days of sideways trading, it started to pull back to 30,000+ at 8:00 today, which clearly shows that the rebound will continue, and 32,000 is definitely not the high point of this round of rebound. The real resistance above is around 36,000.

ETH: Ethereum has rebounded well today, but there is no obvious expansion trend of volume energy, which shows that the durability of the rebound needs to be tested. However, there has been a lot of news about Ethereum 2.0 recently. It is said that the two testnets will be merged on June 8. , the date of the mainnet merger should be given after the merger, which is a small piece of good news. In addition, today’s collective rally in the broader market exploded a lot of empty orders, especially Ethereum, so this time may be a rebound with ulterior motives, ​pay attention risk.

SOL: There has been a downtime incident recently, which has seriously affected the brand of SOL. At present, the official has said that the problem has been found and the persistent random number trading function has been suspended. However, the problem of SOL is different every time. Although the price of SOL has rebounded in the short term, due to fundamental reasons, I am still not optimistic about the continuity.

GMT: stepn has recently identified the user as a robot. This problem should have been solved by now. This kind of problem is not a trivial matter for step, just like a plug-in. If it can't be solved in time, the game will be ruined, so This is also a potential risk for stepn in the future.

[Disclaimer] The above content does not constitute any investment advice. According to the relevant documents of the "Risk Warning on Preventing Illegal Fund Raising in the Name of [Virtual Currency] [Blockchain]" issued by the China Banking and Insurance Regulatory Commission and other five departments in August 2018, please Look at the blockchain rationally, and don’t 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 risks are extremely high. Please participate with caution, put an end to the full-cow stud, and refuse loan leverage.