Dear traders,
The market is waiting for today’s FED news to come out, and it is pricing in a 0.25% increase in interest rates.
BTC is in my zone of 29-27k and preparing for its next big move. FED Powell will speak about the next rate increase, and if he takes a hawkish stance, we could see a bigger drop in the market. If the FED doesn’t bring up any future rate increase, BTC could pump up to 35k.
ETH is still holding at $1850, and if the FED’s news turns out to be hawkish, it could hit a new low at $1700, which is a significant support level.
XRP is currently trading at $0.45 and trying to hold onto its $0.46 support. However, it remains in danger of dropping further if any bad news hits the market, potentially bringing it down to the $0.4 support range.
LINK has dropped below $7 and is showing weakness, potentially touching the $6.45 support level this week. However, it remains a good long-term buy.
SOL has broken the support of $22 and is now aiming for $20 as its next significant support level. It is still a good option for a small short position.
DXY was hit hard at the 102.5 resistance level and pushed back to its starting point. If the FED increases rates, it could pump up strongly.
Crypto/stock daily news:
WHALES BOUGHT 64K BTC IN THE LAST 16 DAYS
We love two things here, ladies & gents:
Taco Bell coupons for ½ off Cheesy Gorditas
People buying up a sh*ton of Bitcoin
Bitcoin whales have bought 64K BTC ($1.8B) in the last 16 days. Those are wallets holding between 100 & 10K BTC ($2.8M & $278M.)
That’s right, BTC whales are stocking up like doomsday preppers stocked up on toilet paper during COVID.
So what? This is good! It means BTC’s largest individual holders are bullish.
Only the strongest can resist that price point after 10 long, dreary months…
BTC whales are back in HODL mode.
May’s gonna be a good one, I can feel it.
BITCOIN MINER REVENUE JUST HIT AN 11-MONTH HIGH
Bitcoin miners are making BANK right now. *Queue DJ Khaled Major Key Alert*
Daily BTC miner revenue hit $2.8M on Sunday. That’s the highest it’s been since June 2022.
BTC miners get paid for every block they mine (6.75 BTC, or $190K) plus transaction fees from each transfer.
So why the rise? One word, baby: Ordinals.
Everyone & their mother is inscribing them on the Bitcoin blockchain. It’s the protocol’s way of getting into NFTs – which historically has been more of an Ethereum thing.
There have been 3M Inscriptions since Ordinals launched in December 2022.
More transactions = more transaction fees = higher BTC miner revenue.
*Alexa, play A Milli by Lil Wayne*
Final words:
Today is bi day don’t take new positions before FED news and take care of your trades. Good luck!
Copy trade GROW 0.1->10k$ since 18.03 we got +37% what is great for start.
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Sentiment Is now BULLISH and real test for bulls are this week.
Not Financial Advice!
Good luck with trades!
Author
Jake
TOP Trader
