EIA crude oil production in the U.S. for the week ending May 16

Global macroeconomic turmoil presents a good opportunity for allocation in the crypto market. In February, the global economic landscape, especially the macro financial environment in the United States, underwent a dramatic transformation. U.S. inflation data rose, and consumer confidence fell to a 15-month low, raising concerns in the market about a recession in the U.S. This prompted traders to start repricing expectations for an economic downturn, leading to a rapid decline of the three major U.S. stock indexes to near the 120-day moving average. In this case, funds began to seek refuge. The yield on the 10-year U.S. Treasury quickly fell, and the gold market also showed signs of peaking. Affected by the performance of the US stock market, Bitcoin experienced a significant decline in the last week of February, setting the record for the largest retracement and the biggest weekly loss in this cycle. Analysis suggests that this round of market activity is essentially a reversal of the previous "Trump trade" pricing. Considering the self-adjusting ability of U.S. policy and the medium to long-term development prospects of the crypto market, the current situation may be more favorable for Bitcoin in the medium to long term.

Rug Pull is a type of Crypto Assets eyewash that results in significant losses for investors. This article discusses its definition, types, and identification methods, emphasizing the importance of cautious investment and due diligence, and calls for the industry to work together to combat fraud.

This week's dynamics in the crypto market are attracting attention. Bitcoin may first rise to $120,000 in the short term before pulling back, needing to break through $119,500 to start a new round of pump. Ethereum is expected to break through four years of resistance and challenge $4,000. The overall market atmosphere is positive, but caution is needed regarding macroeconomic risks and market fluctuations.

BREAKING: it looks like xAI has registered the "Macrohard" trademark that Elon Musk hinted earlier! Haha

Eth3354 is an important psychological anchor point. Once it breaks 3300, the next level down is 2900, and all the bullish traders who chased rising prices above 3000 will be buried at once. Therefore, 3300 is the position that bullish traders must defend and also the position that bearish traders must break through. The remnants of the bullish traders will stubbornly resist here, while some bearish traders will start to take profit and cash out, leading to a rebound. Once it rises, the market makers will re-enter the market, and the ground missiles will be able to break through the defensive positions of the bullish traders. At that time, all bullish traders will turn into fuel for the fall, leading to a surge in liquidations and accelerating the decline! A Black Swan Event is brewing!