Overnight, the U.S. stock market opened high and fell, directly bringing down the crypto market which was performing well. The high correlation between crypto and U.S. stocks is still prominent.

Overnight, the U.S. stock market opened high and fell, directly bringing down the crypto market which was performing well. The high correlation between crypto and U.S. stocks is still prominent, which also shows that there are still a lot of traditional funds in the current crypto market, so such linkage will take some time. The decline of U.S. stocks is mainly due to the confirmation of the discussion of interest rate hike in May by Federal Reserve Chairman Powell. Most traders bet that the interest rate will be raised by 5 basis points in the next three Federal Reserve meetings. The yield of 5-year Treasury bonds has exceeded 3%, reaching a new high since 2018. All kinds of signs indicate that the interest rate hike cycle will continue this year. But we can also clearly see that when the U.S. stock market is closed, the currency circle is often relatively strong and independent, which means that the funds in the currency circle are still optimistic about the future and continue to buy, unlike those traditional golds that use various strategies for mechanical trading and keep sufficient liquidity in hand for trading. Therefore, when the existing traditional institutions are thrown off the bus, the future selling pressure will be significantly reduced, and it will take some time to get out of the independent market, and we need to be patient.

The Governor of the Central Bank of Russia stated that the country had previously taken an overly tough stance on cryptocurrencies and should now reconsider whether to relax its stance on crypto assets. The overall strategy is to find another 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. This is in preparation for the vigorous development of blockchain. The so-called currency-free blockchain cannot achieve WEB3. Blockchains with currency attributes are the blockchains. Leaders of major countries around the world have already seen the future of this market.

Australia's financial regulator plans to start cryptocurrency regulation in 2025. The speed of the cryptocurrency circle VS the traditional speed are simply not on the same level. If you think about 2025 from the perspective of the current cryptocurrency circle, you can't imagine what the future will look like. Fortunately, Australia is determined to embrace crypto.

The governor of the Central Bank of Mexico said that the central bank's digital currency will be ready within three years, while cryptocurrencies have no clear legal support. It seems that the attitude of the Central Bank of Mexico is still to vigorously develop traditional finance, rather than fully embrace the cryptocurrency world like those wealthy people.

Starting this year, the Bahamas allows the use of crypto assets for taxation, and the use of Bahamian legal digital currency to access crypto assets. This means that in the Bahamas, crypto assets have been connected with legal digital currency and entered a purely digital economic system.

The U.S. state of Tennessee is looking for a custodian to hold Bitcoin and cryptocurrencies on its behalf. The state government does not have the confidence to keep the crypto assets on its own, which shows how difficult it is to store and custody crypto assets. Investors who do not understand the mechanism behind it should try to put their coins on large exchanges. After all, there are professional wallet teams to help you manage tokens.

Luxury goods supplier SFL Maven accepts Bitcoin payments and plans to purchase Bitcoin and include it in its balance sheet. Another long-term holder is coming in, but it is estimated that the amount of institutional purchases will not be large.

Morgan Stanley's report said that Bitcoin Lightning Network is currently superior to Visa, and that cryptocurrencies will be widely used for payment, and that volatility will decrease as the adoption rate increases. Kuang Ren believes that Bitcoin will enter a relatively stable state in a certain range in the future, but by then it may have a market value of tens of trillions of dollars.

Coinbase has launched a cryptocurrency credit card in the United States, which offers a 4% cryptocurrency rebate for every purchase made with the card, and has no handling fee or annual fee. This is so convenient, it is equivalent to a 4% discount on everything I buy. If I were an American, I would definitely use this card. This will bring incremental value to the cryptocurrency funding pool.

Since December last year, DEX trading volume has been declining, and began to pick up last month. Therefore, it can be basically confirmed that DEX tokens have entered the bottom range and it is unlikely to get worse in the future. It is a medium- to long-term participation opportunity.

ARK Fund sold Tesla and bought Robinhood. This shows how pessimistic it is about Musk. It sold Twitter first and then Tesla. Is it worried that Musk will bring down the stock prices of all related companies?

Panic 26, once again close to extreme panic.

Coin News:

Bitcoin: The stock of Bitcoin in the exchange has reached the lowest level in more than 4 years. All the Bitcoin has been withdrawn by big and small fish. The selling pressure of Bitcoin will be very small in the future. Yesterday, whales withdrew 7,831 Bitcoins again, worth 330 million US dollars. This trend has not ended. We are not afraid of traditional funds selling, because the consensus in the industry is enough to support the value of Bitcoin. The US stock market is expected to have a low point in the evening, and there may be opportunities to get on board. There is no need to panic when it plummets. It is not so easy to effectively break through 40,000.

Ethereum: Brother Sun transferred 38,340 Ethereums to Binance yesterday, which does not seem to be a good signal. Three Arrows Capital also transferred 5,000 Ethereums to the exchange. Let’s assume that Brother Sun is cashing out to do “BoF”. In the short term, the weak trend will continue to be linked to Bitcoin.

TRX: Sun Ge officially established the TRON Fed and issued the algorithmic stablecoin USDD, which was backed by TRX and officially launched on May 5. As a result, TRON rose sharply, and our VIP group also benefited from Sun Ge’s information gap. The probability of a sustained rise in the short term is not high, and speculation is the main reason.

ETC: There are still 3 days and 12 hours left before the production cut, which is 20%. It has obviously weakened recently, and the expectation for an increase is not very strong. There may be a chance of a rebound after the production cut.

SHIB: Ethereum giant whale Bombur continues to buy SHIB, worth $1.27 million. The recent trend is not bad, but you can wait for the right side to come out before participating.