Under the backdrop of global macro pressures and declining market risk appetite, BANK has been significantly affected by liquidity in the short term, once falling below the key support level of $0.0330 in late April. Benefiting from a temporary inflow into ETFs and eased panic, BANK rebounded from its lows to above $0.0345, with trading activity picking up. It is recommended to closely monitor the $0.0330 support and $0.0350 resistance; consider going long on pullbacks and stabilization within this range, and add positions if a breakout occurs with increased volume, targeting $0.0370. Meanwhile, ongoing assessment of changes in macro liquidity and risk appetite is needed to anticipate future trends.

Recently, the unexpected rise in Japan's service Price Index and the sharp increase in oil prices due to geopolitical tensions in the Middle East, coupled with traders reducing risk exposure ahead of the upcoming Fed rate decision, have all weighed on overall market risk appetite. These factors collectively triggered corrections in BTC and major assets, further impacting lower-liquidity mid- and small-cap tokens, causing BANK to fall noticeably on April 25 and break below the key $0.0330 support level.

On April 24, the crypto market weakened with BTC hovering around $77,800, slowing its rise from $65,000. ETH fell about 0.8%, underperforming BTC. Market pressure stemmed from Japan's March corporate service price index rising 3.1%, exceeding expectations and signaling possible BOJ rate hikes, strengthening the yen and risking global asset sell-offs. Additionally, ongoing Iran conflict disrupted oil transport, pushing WTI crude over $96/barrel, raising inflation concerns and limiting Fed rate cut prospects.

Analysis: BTC's upward momentum is hindered as Japanese inflation data and the Iran conflict trigger market risk aversion.

BTC's upward momentum slowed near $77,800 after rising from $65,000, with ETH also declining about 0.8%. Market pressure stems from Japan's March corporate service price index rising 3.1% YoY, suggesting possible BOJ rate hikes and a stronger yen, which may trigger risk asset sell-offs. Additionally, ongoing Iran conflict disrupts oil transport, pushing WTI crude over 40% higher to $96/barrel, sustaining inflation concerns and limiting Fed rate cut prospects.

Analysis: BTC's upward momentum is hindered as Japanese inflation data and the Iran war trigger market risk aversion sentiment.

Despite weak short-term sentiment, U.S. spot Bitcoin ETFs have seen net inflows exceeding $800 million, and the Fear & Greed Index has rebounded from 'fear' to 'neutral.' In addition, market participants are gradually buying at the bottom, which indicates a potential recovery opportunity for risk assets. In comparison, BANK’s price has rebounded from the $0.0328 level to above $0.0345, with significantly increased trading volume, suggesting a potential technical rebound in the short term.

Despite recent Bitcoin price gains, investors are increasingly betting on a price decline. Data from CEX.IO shows short sellers paying rates around 11%, peaking at 19%, the highest since early 2023. Concurrently, Bitcoin is undergoing one of its largest accumulation phases. The simultaneous rise in strong buying and short positions suggests potential significant price volatility, with the possibility of a short squeeze or a reverse shock. Bitcoin currently down 1.6% at $75,754.

Analysis: Bitcoin short positions surge, market prepares for significant volatility.

Bitcoin rose 2% to $7,910 and Ethereum 3% to $2,388 amid easing geopolitical tensions, boosting Asian markets with Japan's Nikkei 225 and South Korea's Kospi hitting record highs. The US spot Bitcoin ETF saw $823.7 million net inflows for the fourth consecutive week. The crypto fear and greed index improved from 29 (fear) to 47 (neutral). Analyst Dominick John attributes gains to ETF inflows, technical breakthroughs, and reduced risk aversion.

Analyst: Both the crypto market and Asian stock markets rise amid easing geopolitical tensions.

From the daily chart, BANK has oscillated within the $0.0330–$0.0350 range since mid-April, repeatedly testing the lower boundary for support while failing to sustainably surpass the $0.0370 resistance above. In recent sessions, trading volume has been shrinking, reflecting ongoing divergence between bulls and bears. Traders should focus on the strong support near $0.0330; if a pullback stabilizes, it may present a long entry opportunity. If there is a breakout above $0.0350 with accompanying volume, a trend-following long could target the $0.0370 resistance. In the medium and long term, continue to monitor global monetary policy trends and changes in market risk appetite.

Danske Bank analyst Asger Wilhelm Dalsjo highlights that with the Middle East conflict entering its ninth week, central banks will assess its current and future economic impacts. This week, the Bank of Japan, Bank of Canada, Federal Reserve, Bank of England, and European Central Bank will hold policy meetings. While all are expected to keep interest rates unchanged, their evaluations of the conflict's economic effects will be closely watched, making monetary policy decisions the main market driver.

Analyst: Interest rate decision will be the main market driver, focus on the impact of Middle East conflict.

Bankless DAO

U.S. PCE Inflation Rises to 3-Year High, Bitcoin Slides

US Treasury yields spike to highest levels in a year, adding a new problem for Bitcoin liquidity.

European Central Bank policymakers are likely to raise interest rates at their next meeting in June unless there are positive developments on energy prices and ending the Iran war.

The European Central Bank's inclination to raise interest rates has strengthened, with Lagarde emphasizing increased risks.

European Central Bank officials stated that if energy prices do not ease, interest rates will be raised in June.

Hassett: It's time for Powell to leave the Federal Reserve.

Here’s why the crypto market is falling today

Lagarde speech: Interest rates best tool we can use

The Fed’s PCE Data Used to Measure Inflation Has Been Released! Here’s Bitcoin’s (BTC) Initial Reaction!

Lagarde speech: Debated at length a hike

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