Bitcoin: Mining difficulty hits all-time high

The Fed raised interest rates by 50 basis points in May, with a probability of 66.6% and a probability of 25 basis points of 33.4%. The expectation of rate hikes seems to have decreased compared with the previous ones, but there is no essential impact. Judging from the recent economic trends in the United States, with inflation, GDP growth seems inevitable. At the same time, Biden has also resorted to various means to cope with the continued inflation. A series of operations such as raising interest rates, returning the US dollar, and provoking wars to increase commodity prices have shown us how powerful Wall Street is in playing with the economy. Now Biden is considering releasing oil reserves on a large scale to cope with inflation. With the surge in crude oil prices, the rapid conversion of crude oil reserves into US dollars has once again completed the global harvest. It can be said that a thousand miles of accumulated steps will lead to a thousand miles of gains. In various scenarios, everyone will be fleeced, and ultimately the world will continue to pay for the US recession.

In terms of regulation, we can also see the anxiety of major global financial regulators. The International Monetary Fund once again discussed the regulation of cryptocurrencies, especially focusing on the global consistency of regulation of Bitcoin and stablecoins, and also mentioned that the conflict in Ukraine will promote the adoption of cryptocurrencies. Officials from the Bank of Japan also called on G7 countries to establish a common regulatory framework to better regulate cryptocurrencies to deal with sanctions loopholes, and the calls for regulation from the United States and the European Union are even higher. People are increasingly aware of how important a global unified regulatory framework is in the crypto market, which will accelerate the arrival of this moment. In the foreseeable future, the cryptocurrency market will become the world's largest financial market, without a doubt.

Arizona accepts the use of cryptocurrencies to pay for water and electricity bills through Paypal's payment channel. In fact, with the support of Paypal, basically all cryptocurrencies have been circulating around the world for a long time, but the company will comply with different regulations between countries.

Uber’s CEO said that cryptocurrency has proven to be a real store of value and that Uber will one day accept cryptocurrency payments.

Financial platform Nequi is considering including cryptocurrencies in its service scope. The CEO expressed the hope to enter the crypto market directly, but compliance is still one of the primary concerns. I believe this is just a microcosm of global institutions. Many institutions have seen the money-making effect of this market and want to rush in, but because of their large scale, they cannot do it with all their might. Therefore, they must seek regulatory compliance and consent. Once the supervision is implemented in the future, these institutions will rush in frantically and a large amount of incremental funds will emerge.

USDT issued another 1 billion US dollars, and incremental funds continued.

Fear Greed 52, greed turns to neutral.

Coin News:

Bitcoin: The mining difficulty hit a record high of 28.59T. The 19 millionth Bitcoin will be mined in the next two days. 90% of Bitcoin is already in circulation, but the actual circulation is less than 30%. A large number of coins are locked by long-term investors. This is the fundamental logic of the long-term bull market of Bitcoin. In the short term, if it cannot rise tonight, then a callback to 45,000 may become a healthier trend in the short term.

ETH: Slightly stronger than Bitcoin, but the logic is the same. If it fails to go up tonight, it will enter a short correction cycle with support at 3200.

FTM: Launched a virtual machine compatible with the Solidity language, and plans to upgrade it in stages starting from the second quarter. It can be seen that public chains are moving closer to the Ethereum ecosystem, and future competition will be more homogeneous and fierce. FTM's pressure level in this round is 1.6, and there is not much expectation after AC leaves.

GRT: Released a research and development roadmap, including the upgrade of the indexer and curator mechanism and the expansion of Layer2. The recent trend is not bad, and the opportunities are greater than the risks.

There is nothing else. Be prepared for a short-term correction, but the amplitude will not be too deep. Let's try to break 50,000 again.