ChainCatcher news, recently, the crypto asset research institution EMC Labs released the May 2024 report titled "Policy Factors Intensify, Buying Power Gathers to Find Breakthrough Points."The report points out: Along with massive chip exchanges and severe market fluctuations, coupled with the delay in interest rate cuts, the inflow of funds into the stablecoin channel in May was only $341 million, far lower than the $8.9 billion and $7 billion in March and April. In contrast, the fiat funds in the ETF channel saw outflows on 5 out of 22 trading days in May, while recording net inflows on 17 trading days, with a total net inflow of $1.905 billion for the month, significantly higher than the $341 million in the stablecoin channel. In May, the Nasdaq index rebounded strongly, recovering all losses from April. The funds in the BTC ETF channel are currently more influenced by the Nasdaq index, and under the weak on-site funding conditions, its dominance over BTC prices is strengthening. Thus, the upcoming Nasdaq performance influenced by tech stocks may become the most significant factor determining BTC price trends.

ChainCatcher news, Bitget Research Institute points out that from a macro perspective, the Fed's expectations for interest rate cuts have driven commodity prices up, with gold prices breaking historical highs and BTC rebounding over 60% for a consecutive month. As the U.S. economy may enter a recession cycle, according to the Bank of America Global Fund Manager Survey, the consensus among fund managers predicting a rate decline in 2024 has reached 80%, the highest consensus level ever recorded in the survey. Along with the continuous decline of the U.S. dollar index, Bitcoin's price has continuously broken new highs for the year.On the secondary market level, the total trading volume of the crypto market has increased for three consecutive trading days, with the total market capitalization rising to 1.5 trillion USD. In the past 24 hours, the total liquidation amount across the market approached 200 million USD, with short positions liquidating 155 million USD. The strength of short positions is weakening, leading to a rapid price recovery. Currently, the combination of trading volume and price increase is relatively healthy, and the upward trend is expected to continue. The current market is highly volatile, and attention should be paid to market risks.