The market is waiting for a truly big volatility move to decide the entry point for Ethereum. There are three core issues to get involved with: 1) Trump rejects the peace proposal, and geopolitical risk is heating up again. 2) Trump is about to visit China, and the market is starting to bet on expectations for a subsequent easing in China–US relations. 3) Tomorrow night’s CPI release will determine whether the expectations for a June rate cut continue to rise.

The next 48 hours may decide the overall pace of the entire May crypto market. Our focus should be on tonight’s moves in the US stock market. Generally speaking, capital tends to shift in advance.

In 2017, during Trump’s visit to China, Big Cake (BTC) rose from $7000 and continued all the way up to $20000—three times the room. Back then, the market was in the breakout rally phase at new highs, and there was no outbreak of a trade war. Nowadays, it won’t directly affect the crypto space, because the market cap has already expanded by thousands of times compared with 17 years ago. The key is still to watch CPI and the geopolitical situation—whether they will keep driving the June rate-cut expectations upward.

In terms of direction, it’s still high and looking down ⬇️. This is mainly about market sentiment, plus the worsening of geopolitical tensions. What should you do? Follow me $ETH $BTC