Cryptocurrency Price Action Update

• Bitcoin (BTC): Today's price is US $97,858.05, with a 24-hour trading volume of US $64,902,678,225. The price has risen by 0.6% in the last 24 hours and by 3.54% in the last 7 days. The circulating supply is 19.86 million BTC, and Bitcoin's market cap is US $1,943,620,185,905.

• Ethereum (ETH): Today's price is US $1,825.81, with a 24-hour trading volume of US $48,030,321,303. The price has decreased by -0.82% in the last 24 hours and risen by 1.35% in the last 7 days. The circulating supply is 120.73 million ETH, and Ethereum's market cap is US $220,410,333,131.

• Ripple (XRP): Today's price is US $2.13, with a 24-hour trading volume of US $3,584,642,531. The price has decreased by -1.5% in the last 24 hours and by -3.19% in the last 7 days. The circulating supply is 58.50 billion XRP, and Ripple's market cap is US $124,588,026,647.

On the early morning of May 8th, Beijing time, the Federal Reserve announced the May interest rate decision, declaring to maintain the benchmark interest rate within the range of 4.25%-4.50%, which is in line with the market's expectation of 97.2%.

Although there was no interest rate cut initiated, Powell's speech released key signals:

1. Dovish Bias: Acknowledging a -0.3% contraction in the US Q1 GDP and low consumer confidence, implying that if inflation further eases, the probability of a rate cut in June will significantly increase;

2. US Dollar Liquidity Expectations: The market anticipates that the US Treasury may inject liquidity through short-term instruments, alleviating the tight US dollar liquidity pressure and providing support for risky assets;

3. Bitcoin Resilience Highlighted: After the decision was announced, Bitcoin's price briefly retraced to around $9,500, but quickly rebounded above $9,800, with technical analysis showing that the daily line has stabilized above the MA7 moving average, and the short-term support level of $9,500 has not been breached.

The Fed's Unchanged Interest Rates and Their Impact on the Crypto Market

The Federal Reserve's announcement of unchanged interest rates early this morning aligns with market expectations. What role will this play in the upcoming bull market for cryptocurrencies?

Although there was no rate cut in May, maintaining the same interest rate was within market predictions, so the announcement itself was positive for the market.

Bitcoin also took the opportunity to break through the $9,800 mark. Currently, with no rate cut in May, the probability of the Federal Reserve cutting rates in the following months of June and July will significantly increase, which is a conclusion drawn from the market's analysis of the published data.

Everyone is looking forward to the arrival of the "altcoin season," but with the current market situation, is there still hope for it? It's really nerve-wracking!

It's said that changes in Bitcoin's market share can indicate market trends. Currently, Bitcoin accounts for about 54% of the total market cap of the crypto market, still a significant gap from the previous high of 74%. Generally, it's only after Bitcoin surges to a high level and capital starts flowing outwards that altcoins have a chance to emerge.

But this time, it seems different! The relationship between the crypto market and the macroeconomy has never been so close! Federal Reserve policies, global geopolitical issues, all are significantly affecting where funds flow. Those with substantial capital are choosing to hold and wait. This cautious sentiment has made life difficult for altcoins, as they are high-risk, and everyone is hesitant to act, naturally, the market doesn't pick up.

For ordinary retail investors, it might be more necessary to stay clear-headed now:

• Beware of False Prosperity: The sudden rise of some altcoins is more about major capital speculation rather than value discovery.

• Focus on Fundamental Logic: Pay attention to projects with real users and cash flow generation.

The market is always evolving, and the old "altcoin season" might be reborn in a new form. Those projects that truly address industry pain points and build sustainable business models will eventually stand out after the shuffle. Instead of worrying about when the "season" will come, it's better to calm down and look for value targets that can span cycles—after all, in the crypto world, the greatest opportunities often arise when everyone is confused.

Cryptocurrency Price Action Update

• Bitcoin (BTC): Today's price is US $97,858.05, with a 24-hour trading volume of US $64,902,678,225. The price has risen by 0.6% in the last 24 hours and by 3.54% in the last 7 days. The circulating supply is 19.86 million BTC, and Bitcoin's market cap is US $1,943,620,185,905.

• Ethereum (ETH): Today's price is US $1,825.81, with a 24-hour trading volume of US $48,030,321,303. The price has decreased by -0.82% in the last 24 hours and risen by 1.35% in the last 7 days. The circulating supply is 120.73 million ETH, and Ethereum's market cap is US $220,410,333,131.

• Ripple (XRP): Today's price is US $2.13, with a 24-hour trading volume of US $3,584,642,531. The price has decreased by -1.5% in the last 24 hours and by -3.19% in the last 7 days. The circulating supply is 58.50 billion XRP, and Ripple's market cap is US $124,588,026,647.

On the early morning of May 8th, Beijing time, the Federal Reserve announced the May interest rate decision, declaring to maintain the benchmark interest rate within the range of 4.25%-4.50%, which is in line with the market's expectation of 97.2%.

Although there was no interest rate cut initiated, Powell's speech released key signals:

1. Dovish Bias: Acknowledging a -0.3% contraction in the US Q1 GDP and low consumer confidence, implying that if inflation further eases, the probability of a rate cut in June will significantly increase;

2. US Dollar Liquidity Expectations: The market anticipates that the US Treasury may inject liquidity through short-term instruments, alleviating the tight US dollar liquidity pressure and providing support for risky assets;

3. Bitcoin Resilience Highlighted: After the decision was announced, Bitcoin's price briefly retraced to around $9,500, but quickly rebounded above $9,800, with technical analysis showing that the daily line has stabilized above the MA7 moving average, and the short-term support level of $9,500 has not been breached.

The Fed's Unchanged Interest Rates and Their Impact on the Crypto Market

The Federal Reserve's announcement of unchanged interest rates early this morning aligns with market expectations. What role will this play in the upcoming bull market for cryptocurrencies?

Although there was no rate cut in May, maintaining the same interest rate was within market predictions, so the announcement itself was positive for the market.

Bitcoin also took the opportunity to break through the $9,800 mark. Currently, with no rate cut in May, the probability of the Federal Reserve cutting rates in the following months of June and July will significantly increase, which is a conclusion drawn from the market's analysis of the published data.

Everyone is looking forward to the arrival of the "altcoin season," but with the current market situation, is there still hope for it? It's really nerve-wracking!

It's said that changes in Bitcoin's market share can indicate market trends. Currently, Bitcoin accounts for about 54% of the total market cap of the crypto market, still a significant gap from the previous high of 74%. Generally, it's only after Bitcoin surges to a high level and capital starts flowing outwards that altcoins have a chance to emerge.

But this time, it seems different! The relationship between the crypto market and the macroeconomy has never been so close! Federal Reserve policies, global geopolitical issues, all are significantly affecting where funds flow. Those with substantial capital are choosing to hold and wait. This cautious sentiment has made life difficult for altcoins, as they are high-risk, and everyone is hesitant to act, naturally, the market doesn't pick up.

For ordinary retail investors, it might be more necessary to stay clear-headed now:

• Beware of False Prosperity: The sudden rise of some altcoins is more about major capital speculation rather than value discovery.

• Focus on Fundamental Logic: Pay attention to projects with real users and cash flow generation.

The market is always evolving, and the old "altcoin season" might be reborn in a new form. Those projects that truly address industry pain points and build sustainable business models will eventually stand out after the shuffle. Instead of worrying about when the "season" will come, it's better to calm down and look for value targets that can span cycles—after all, in the crypto world, the greatest opportunities often arise when everyone is confused.