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【US stocks and crypto plunge together, what signal is the market waiting for?】
Last night, both US stocks and crypto took a nosedive, with BTC dipping below $77,000 and ETH losing the $2,300 mark, leading to nearly $250 million in liquidations across the board. The sudden sell-off caught those chasing higher positions off guard.
After a series of rebounds, the market's hope to test the previous high of $80,000 has faded. Now, the focus is on the subtle tug-of-war between three forces: interest rate expectations (the likelihood of a rate cut post-Wash hearing is nearly zero), the price convergence effect from the nearly $5 billion in Bitcoin and Ethereum options set to expire today, and the market’s preemptive hedging ahead of tonight's remarks from the stock market wizard. In short, from a macro perspective, there's "no sugar to be had," and the options market has provided a concentrated release opportunity for the bears. Notably, ETFs, including BlackRock's IBIT, saw net inflows yesterday, but the overall structure showed signs of retail investors redeeming while the whales took over, exposing short-term liquidity vulnerabilities.
However, the signals from institutions remain firm—Morgan Stanley increased its holdings by 143.34 BTC in just one day, and Strategy continues to hold the position of the largest institutional holder globally. Long-term whales have accumulated over 300,000 BTC in the past 30 days, playing against short-term funds.
If $77,000 is confirmed as lost, the next support level to watch is $75,000. We're currently in a typical phase of re-pricing after an emotional retreat, so it’s advisable to keep an eye on the direction post-US market open and not rush to catch the bottom. Defensive overexposure can be moderately shifted towards RWA (on-chain US Treasury-type assets), as the RWA sector remains strong, with a total market cap exceeding $2.7 billion.
⚠️ Risk Warning: With the FOMC decision window approaching (April 29), coupled with the importance of the direction taken after the nearly $5 billion in options expiration, market volatility could further amplify. Please strictly control leverage and be mindful of risks.
#btc #ETH #红包 🧧🧧
Last night, both US stocks and crypto took a nosedive, with BTC dipping below $77,000 and ETH losing the $2,300 mark, leading to nearly $250 million in liquidations across the board. The sudden sell-off caught those chasing higher positions off guard.
After a series of rebounds, the market's hope to test the previous high of $80,000 has faded. Now, the focus is on the subtle tug-of-war between three forces: interest rate expectations (the likelihood of a rate cut post-Wash hearing is nearly zero), the price convergence effect from the nearly $5 billion in Bitcoin and Ethereum options set to expire today, and the market’s preemptive hedging ahead of tonight's remarks from the stock market wizard. In short, from a macro perspective, there's "no sugar to be had," and the options market has provided a concentrated release opportunity for the bears. Notably, ETFs, including BlackRock's IBIT, saw net inflows yesterday, but the overall structure showed signs of retail investors redeeming while the whales took over, exposing short-term liquidity vulnerabilities.
However, the signals from institutions remain firm—Morgan Stanley increased its holdings by 143.34 BTC in just one day, and Strategy continues to hold the position of the largest institutional holder globally. Long-term whales have accumulated over 300,000 BTC in the past 30 days, playing against short-term funds.
If $77,000 is confirmed as lost, the next support level to watch is $75,000. We're currently in a typical phase of re-pricing after an emotional retreat, so it’s advisable to keep an eye on the direction post-US market open and not rush to catch the bottom. Defensive overexposure can be moderately shifted towards RWA (on-chain US Treasury-type assets), as the RWA sector remains strong, with a total market cap exceeding $2.7 billion.
⚠️ Risk Warning: With the FOMC decision window approaching (April 29), coupled with the importance of the direction taken after the nearly $5 billion in options expiration, market volatility could further amplify. Please strictly control leverage and be mindful of risks.
#btc #ETH #红包 🧧🧧
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