Yesterday, the annual rate of the US CPI in March was 3.5%, higher than the expected level of 3.4%, the highest level since September 2023. Affected by this news, the US dollar rose sharply in a short period of time, and both gold and bitcoin fell instantly. After the data was released, the swap market showed that the possibility of the Fed's interest rate cut in June decreased, and the first interest rate cut was postponed from September to November. Obviously, this is a big negative, but it must be said that bitcoin is still strong, and the mood of bottom-fishing is still endless. After the negative impact, the expected decline in the previous two days was directly recovered. It also confirms what we said that if you want to bottom-fish, you may not be able to do it. The supply of bitcoin is very limited, but the demand is still strong. After all, interest rate cuts will come sooner or later, and it is impossible to raise interest rates again.
ETF data turned from negative to positive yesterday, with a net inflow of 1,786 coins and an inflow of 124 million. Fidelity and Bitwise began to exert their strength. People from Grayscale said that GBTC should have reached a balance at present, and the net outflow may end. I personally think it should be almost the same. More than half of it has been sold. Once the outflow ends, the real net inflow will begin. Even if the purchase is small, it is a net inflow.
The BRC20 (inscription) market has begun to recover recently. This is due to the emergence of RGB++, which has led to the re-activation of inscriptions. However, it seems that it is a bit difficult for inscriptions to be as popular as at the end of last year, because there are more and more new things now, which disperses the funds of inscriptions. Therefore, it is a good choice to clear the previous lock-in in this wave. The leading ORDI's position remains unshakable.
According to reports, the US SEC issued a warning to Uniswap Labs on Wednesday, planning to take enforcement action against the company. It is reported that the warning was issued in the form of a "Wells Notice". The US Securities and Exchange Commission sends this notice to a company before initiating formal litigation to provide the company with a last chance to refute any allegations. The specific nature of the SEC's allegations against Uniswap Labs is not yet known. Affected by this, UNI fell by more than 14% in a short period of time. It seems that there are quite a lot of people holding UNI, and the proposal for UNI dividends did not seem to be passed in the end, so UNI can no longer be optimistic about it in the future. When the tree falls, the monkeys scatter and each pursues his own future.
Market Interpretation
If you look at the currency journal carefully yesterday, it mentioned that 67,000 might be able to hold up. In fact, it only fell to 67,500, and there were not many opportunities to buy at the bottom. Most of the counterfeit coins could not come back after they fell. The big cake is still so strong. The open interest of this contract did not rise, which is more conducive to the rise. But I still think that it is still difficult to break through the new high of 73,777 directly and effectively. I am more inclined to think that it will fluctuate here for a while.
The Ethereum exchange rate has returned to 0.05. Let's continue to link. I hope 0.05 will not break again. It will be really difficult to break to the number you imagine.
TAO landed on B AN today. This old goblin finally went to a big exchange. The AI sector has been brought up. Don't FUD anymore. Those who said that the AI sector bought at the bottom the day before yesterday are comfortable.
Today's panic greed index: 76 (greed)
I have been in the currency circle for many years and have in-depth insights into various issues. Pin it to the top. There is a group of like-minded partners in the village. The common goal is to work together to reach the peak of wealth. Remember, this is a marathon, not a 100-meter sprint. Only by investing steadily can you go further. #UNI #WIF #ENA $BTC $SOL
