1. Market trend: BTC is lower than the main moving average, and there is great rebound pressure
BTC prices continued to rebound technically during the short-term pullback period, and the prices rebounded in a short time and stood above the integer point of $40000 again. This shows that there is the possibility of short-term changes in the adjustment rhythm, but the sign of the end of the decline is not significant. Next, BTC may still operate in a declining trend, and the key support of $36077 corresponding to 50% of Fibonacci can be regarded as an important point for long and short competition.
In terms of pressure level, BTC is very close to the 120 day moving average, indicating that the short-term basis is not strong. The moving average spreads downward, and there are more opportunities to further expand the decline.
The trend of miners effectively indicates the rise and fall trend of BTC. Recently, the MPI index related to miners rose and fell, and the peak value of the index can reach 8.54, which means that miners transfer out of BTC in a large number in the stage of price rebound, and their trading intention is strong. Based on this judgment, BTC is more likely to be confirmed at the top of the high US $47000 in the month. Next, the BTC price continued to adjust the trend to control positions and avoid risks.
2. Message side interpretation:
After "eagle king" St. Louis Fed chairman Brad said at the online meeting of the Foreign Relations Committee on Monday that "the possibility of raising interest rates by 75 basis points at a time cannot be ruled out", the US dollar index rose on Tuesday and stood at the 101 level for the first time since March 2020.
Brad also pointed out that the Fed's interest rate hike is larger. When referring to the potential interest rate hike of 75 basis points, he said, "I don't rule out this possibility."
Brad said that as the Federal Reserve helps curb inflation, which is currently at a 40 year high, by raising the federal funds rate target to about 3.5% by the end of the year, he still supports a series of interest rate hikes of 0.5 percentage points, which are almost certain.
The US dollar index rebounded and the US dollar return trend strengthened, which obviously had a negative impact on BTC prices. Any market may be affected by the return of the US dollar, and the recent decline in BTC prices has something to do with the increased attractiveness of the US dollar.
3. Dragon and tiger list:
Based on the short-term rebound of mainstream currencies, more sectors continued the rebound trend, and strong currencies emerged one after another. Among them, stepn with the concept of move to ear is the top gainer, and the 24-hour price increase is as high as 42%. Algorithm stable currencies Luna and FXS increased by 16.2% and 16.8%, which are sectors with high market attention.
STEPN
Stepn is an application integrating gamefi and socialfi elements, which attracts many users outside the encryption circle through the move to ear mode. The explosion of stepn can be attributed to two points: first mover advantage and soaring price.
From play to ear's axie, write to ear's Monaco, and move to ear's stepn, a new play method can always attract a lot of attention in a short time. From the game settings and token model, there is no essential difference between stepn and axie (at least until now), but its game experience will give people a feeling of "out of the circle", providing a long lost hot spot for the market in the first quarter of the depressed mood.
In terms of price, in the daily K-line chart of GMT token, after the extremely shrinking trading volume, the price increased in the volume stage, and soared by 42% in GMT 24 hours.
LUNA、FXS
The price performance of Luna and FXS is relatively strong. Luna rebounded from the 120 day moving average, indicating that the upward trend of price is still stable. After the large-scale rebound of FXS on April 13, FXS showed a large-scale rise again, and the market performance was very strong.
In terms of market value, Luna has a market value of US $31.9 billion and FXS has a market value of US $250 million, which is quite different from usdt's US $83.8 billion, and the market value growth potential is high.
XMRand Zec
Private currency XmR and Zec led the short-term rise, indicating that investors' risk aversion is still heavy in the current market. XmR and Zec increased by 11.2% and 13.5% respectively in 24 hours, with large short-term rise characteristics.
Decline list
Xcn fell ahead. As a new currency on the exchange, xcn's recent trading volume has been running at a high level, and the turnover rate is obviously large. Therefore, the price trend after high turnover rate deserves attention.
In the list of declines, most of the larger declines were the stable currency and the Taiwan dollar. The overall market rebounded, and the short-term profit opportunities increased.
