May 20th Bitcoin and Ethereum Market Analysis


Bitcoin is repeatedly testing around $77,000, short-term resistance at the $775-$778 range. Last night, after testing $76,000 a second time, it rebounded, forming a thousand-point range fluctuation. On-chain data shows an increase of 36k coins held slightly, concentrated among small and medium investors. The deeper reason is that U.S. Treasury yields hit a new high since 2007, causing funds to flow from the stock market to the bond market. The U.S. stock market is under pressure, and the crypto market is weakening in tandem. In the short term, it’s a dilemma between upside and downside, suitable only for light position swing trading.
Trading suggestion:
A rebound to the $78,100 to $78,600 range, short #TradFi交易分享挑战
BTC1.56%
ETH1.52%
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