April 23rd Cryptocurrency Market


The overall trend is strong, and it's predicted that a wave of short positions will explode
🔹News: The most influential factor on cryptocurrencies right now is still oil prices. But last night, all the bullish news for crude oil was out: US inventories below expectations, container ships in the Strait attacked, US Navy predicts a 6-month clearance of torpedoes
🔹Macro: US stocks opened high and continued to rise, with tech giants like Apple and Google leading the rally, but the Russell 2000's upward momentum has ended, falling for two consecutive days
🔹Federal Reserve: Waller's appointment as Fed Chair has some issues, with an opposition vote within the Republican Party, but as long as Trump withdraws the investigation into Powell, it can be resolved. Waller clearly still supports Trump at the hearing, and once in office, the probability of a rate cut is very high
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