Tokenized US stock trading has become an unstoppable trend! The US non-farm payroll data unexpectedly plummeted, causing violent declines in the North American markets. Geopolitical conflicts intensified, pushing oil prices above $100 at one point. Liquidity that was taken away by gold was then snatched by oil again. Assets like BTC faced resistance in rebounding and fell back under pressure!

1. Currently, almost all mainstream exchanges support tokenized US stock trading. This is an unstoppable trend and another major trend. It will become increasingly clear that the survival space for altcoins is being squeezed. Relying on a PPT to raise funds and let retail investors take the risk is now almost impossible. If there are more stable, high-quality US stock assets available for trading, why trade altcoins with uncertain outcomes? This is not a multiple-choice question; it’s a single-choice question. Retail investors may be naive, but they won’t keep getting caught in the trap repeatedly. The market will educate users;
2. The ongoing progress of the Crypto Market Structure Bill faces major disagreements, mainly over stablecoin yields that banks cannot accept. A few days ago, Eric Oldt’s son called out that banks only give users 0.1% interest, but earn 3.75% (latest rate) from the Federal Reserve—this is essentially robbery. It’s a covert pressure on banks. Once stablecoins can be on equal footing with banks, banks might become irrelevant. As Jack Ma said: “If banks don’t change, we will change the banks.” But this process could take a long time or require significant compromises from one side. Otherwise, the bill will be delayed again;
3. Last night, US non-farm payroll data shocked the market—expected 5.9, actual -9.2—indicating a weak US economy and raising recession fears. This favors rate cuts, so after the data was released, the probability of a Fed rate cut in June increased to 30-40%!
4. Geopolitical conflicts intensified, with the Strait of Hormuz tensions triggering a surge in oil prices—up 40-50% in just one week, even briefly surpassing $100. This is not a good sign. The poor non-farm data was already bad, and now it’s worsened.
Summary: Without the issues in the Strait of Hormuz, oil would likely hover in the $50-60 range, not attracting much capital. With gold stagnating at high levels, the crypto sector would see continued capital inflows. However, the sudden surge in oil prices has unexpectedly broken this pattern, redirecting capital flow into oil!
BTC
Support: 65500 / 62800
Resistance: 75475 / 83896
Key levels: 70825 / 67150 / 66300. Currently, whether the 4-hour retracement can stabilize will determine if the rebound continues next week. Focus on whether 70825 can be reclaimed and whether 67150 and the critical 66300 can hold. The two lower levels are opportunities. Last night, Bitcoin entered a bottom position around 69000. If these two key levels are not broken over the weekend, it’s a good chance to hold and see market signals. If volume remains low, boldly adding to positions is an option!
ETH
Support: 1835 / 1600
Resistance: 2225 / 2460
At this moment, key levels are 1915, which was also the target for adding positions yesterday. Keep an eye on the weekend. If 1835 offers another opportunity, it’s a good chance to buy spot. 1915 is also a good entry point. Continue executing the strategy tonight!
In terms of operation: The weekend will likely see low-volume consolidation. Trading opportunities are probably during deep dips. Range-bound sideways movement offers few chances. Just wait for opportunities to add positions! The market won’t move in your desired direction just because you watch it closely. Currently, the market is turbulent—one wave hasn’t settled before another begins. The variable now is when the US-Iran conflict will end!