1. Market Trend
Between April 24 and 9:00 am on April 27, the BTC price fluctuated between $26,943 and $30,036, with a volatility of 11.48%. According to the 1-hour candle chart, the price slightly oscillated before surging to $30,000 on April 26, followed by high-level oscillation. In the early morning of April 27, from 02:00 am to 04:00 am, the price dropped sharply by 10%, then quickly rebounded, and the price returned to above $29,000. The BTC price has crossed the daily and weekly charts multiple times with large and rapid fluctuations, implying a chaotic market sentiment.
Source: BTCUSDT | Binance Spot
According to the ETH/BTC trend between April 24 and 09:00 am on April 27, the ETH/BTC price has been consistently fluctuating downward, with a fluctuation of 3.99%. From the 1-hour candle chart, the ETH/BTC price has been consistently below the weekly chart, indicating a weaker price trend for ETH against BTC.
Overall analysis shows that the current market is in a wide-ranging oscillation state, with huge differences between the longs and shorts. It is recommended to reduce contract positions, trade cautiously, and wait for a clear market trend before entering the market.
2. Industry Roundup
1) On April 24, data showed that the total market value of USDT reached $81.4 billion, which is a level last seen before Terra’s crash.
2) On April 24, the Fed’s balance sheet has been shrinking for four consecutive weeks, with a total reduction of about $140 billion.
3) On April 25, according to data, the 7-day annualized deflation rate for Ethereum fell below 1%.
4) On April 25, NEAR invested in Cosmose AI, an artificial intelligence company valued at $500 million, planning to establish a stablecoin payment system together.
5) On April 26, Deloitte announced plans to hire hundreds of employees for cryptocurrency-related positions.
6) On April 26, Tiger Brokers expressed interest in applying for a virtual asset trading platform license in Hong Kong.
Disclaimer: FameEX makes no representations on the accuracy or suitability of any official statements made by the exchange regarding the data in this area or any related financial advice.