Trading time: The altcoin market rebounded and rose across the board, and Bitcoin encountered resistance in the supply-intensive area at $97,000

1. Market Observation

Key Words: SOL, ETH, BTC

The macroeconomic environment is experiencing a significant transformation. Cleveland Fed Chair Hamak stated that the likelihood of a May rate cut is low, but the earliest possible rate cut could be in June if clear economic data is obtained. She reiterated that the Federal Reserve intends to maintain stable interest rates until they have a better understanding of the Trump administration's policies. On the same day, Fed Governor Waller also mentioned that tariffs are unlikely to cause sustained inflation and warned against overreacting, emphasizing that action would be taken if the labor market significantly declines. This is the first time the Fed has provided a specific timeline for rate cuts since Trump took office. The next Fed meeting will be held from May 6-7, with the market generally expecting the status quo to be maintained.

Bitcoin is currently oscillating around $94,000. Glassnode analysis points out that to break through the $100,000 mark, Bitcoin first needs to overcome the dense supply zone of approximately 392,000 bitcoins at $97,000. Crypto analysis firm Swissblock shares a similar view, believing that Bitcoin faces significant resistance in the $94,000-$95,000 range. They anticipate a potential pullback to the $89,000-$90,000 range to accumulate further upward momentum. However, based on Bitcoin's structural strength, these pullbacks should be viewed as buying opportunities rather than trend reversals.

An increasing number of listed companies are beginning to accumulate Solana. Currently, the main listed companies holding SOL include Sol Strategies (holding about 270,000 SOL), Upexi (holding SOL reserves worth $100 million), DeFi Development Corporation (formerly Janover, holding about 320,000 SOL), and SOL Global Investments (holding 260,000 SOL). Notably, SOL's attractiveness to listed companies now far exceeds ETH's. Additionally, Solana's on-chain activity has significantly rebounded, with transaction volumes increasing dramatically. After breaking through $150, SOL is poised to challenge the $180 mark. Several projects in its ecosystem are performing impressively, with DARK seeing over 30% growth in 24 hours after being retweeted by Solana's official account, reaching a market cap of over $40 million. DPCORE and NOBODY saw their market caps surge to $10 million and $30 million respectively within 24 hours. Meanwhile, the altcoin market is generally rising, with AI and SUI ecosystems standing out.