Cryptocurrency Market Observation

Data does not lie. As of today (May 16th) early trading, BTC is priced at approximately $79,353, down 1.63% in 24 hours; ETH is priced at $2,229, down 1.74% for the day, with a 7-day cumulative decline of 3.43%. Ethereum has nearly halved from its all-time high of 33.7k RMB—that's not a correction, this is a prolonged, chronic bleed.
The bullish logic is not unfounded. The Pectra upgrade has been implemented, account abstraction and staking cap increases have brought in over $3.8 billion in capital inflows; Fusaka has cut Layer 2 costs by 40%~60%, Layer 2 total TVL has reached around $50 billion, with an average of 65 million transactions per day. ETF net inflows in April totaled $356 million, supporting the fundamentals strongly.
But reality is harsh. The US core PCE remains at 3.2%, the probability of rate hikes this year has risen to 20.8%, the 30-year Treasury yield hovers around 5%, and the liquidity tightening Damocles sword remains hanging. ETH price has not even recovered the 20-day moving average ($2,287), RSI hovers around the midline of 50, and the market simply does not give faith a chance to land.
The only trading logic is: $2,200 is the life-and-death line; if it falls below, reduce positions without hesitation.
BTC-3.33%
ETH-4.4%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned