Tokenized US stock trading has become an unstoppable trend! US non-farm payroll data unexpectedly plummeted, causing the North American market to crash violently. Geopolitical conflicts intensified, pushing crude oil prices above $100 at one point. Liquidity that was taken away by gold was then snatched by crude oil. 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 to trade, 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 and burned repeatedly. The market will educate users.

2. The ongoing progress of the Crypto Market Structure Bill faces major disagreements over stablecoin yields. Banks cannot accept the current situation. 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. It’s basically robbery. This is 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 will likely 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, with expectations at 5.9 and actual at -9.2, indicating a weak US economy and raising fears of recession. 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. The Hormuz Strait crisis triggered a surge in crude oil prices, soaring 40-50% in just one week, even breaking the $100 mark at one point. This is not a good sign. The poor non-farm data was already bad, and now it’s worsened.

Summary: Without the Hormuz Strait incident, crude oil would likely hover in the $50-60 range, not attracting much capital. With gold stagnating at high levels, the crypto sector would see continuous capital inflows. However, the sudden surge in crude oil prices has unexpectedly broken this pattern, causing capital to divert from crypto back 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 if 67150 and the critical 66300 can hold.

#ETH
Support: 1835 / 1600
Resistance: 2225 / 2460
At the moment, key level is 1915. Keep an eye on the weekend. If ETH revisits the 1835 level, there’s a good chance to re-enter spot positions. 1915 is also a good entry point.

Operationally: The weekend will likely see low-volume consolidation. Trading opportunities are probably during deep dips. Sideways movement offers few chances! Just wait patiently. The market won’t move in your desired direction just because you watch it closely. Currently, the market is turbulent, with one wave ending and another beginning. The variable now is when the US-Iran conflict will end!