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The cryptocurrency market is currently experiencing a period of volatility and adjustment, with Bitcoin hovering around $94,000. Despite short-term pressure, on-chain capital inflow is accelerating, and the medium-term target points to a range of $103,000 to $108,000. However, caution is needed due to the selling pressure of 1.76 million BTC in the range of $94,125 to $99,150. Ethereum (ETH) is showing weak performance, and market sentiment has returned to neutrality, indicating a strong wait-and-see attitude among investors. In terms of sectors, NFT and PayFi are rising against the trend, with a 24-hour increase of over 30%.
On a macro level, Trump's approval rating has dropped to 39% after his first hundred days in office, and the US dollar index has recorded the weakest start since the Nixon era, with funds continuously flowing into gold and non-US assets. The Federal Reserve faces a policy dilemma compounded by market risk aversion, indicating that Bitcoin still holds long-term allocation value. Citigroup predicts that if the stablecoin market grows to $1.6 trillion, BTC could reach $285,000 by 2030.
In the short term, market liquidity is weak, and we need to be alert to sudden fluctuations. Everyone can follow the performance of the SUI ecosystem (74 million tokens will be unlocked on May 1) and the continuity of the NFT and PayFi sectors.