BTC forms a double top pattern on the 4-hour chart, analysts reveal targets The recovery of Bitcoin (BTC) did not have the expected impact and failed to break through $60,000 even after the bullish momentum resumed. Consequently, the expectation of a bearish reversal has become the norm as analysts believe that the pioneer cryptocurrency lacks sufficient momentum to sustain the current trend. One of the analysts who believe that the price is destined to fall is Finn Oakes, who predicts that the price will return to the range of $53,000. In the analysis, Cryptocurrency analyst Finn Oakes explained that the BTC price has now formed a double top. This happened after the BTC price broke through the $59,000 level twice, but both times failed to successfully break through this level. The double top pattern is shown on the 4-hour chart, forming a reversal pattern. This double top is unfavorable for the price and may indicate that the downward trend that started last week will continue. In this case, the bulls will face a tough battle. Cryptocurrency analysts explain that after breaking the double top, it is now showing that $59,000 is a strong resistance level. This means that any rebound needs to successfully break through this resistance to be confirmed. Compared to the resistance level, $56,000 has now become the support level for the BTC price. This provides a narrow space of $3,000 for bulls and shorts to compete for dominance and drive the price pump. Otherwise, sideways movement may continue. Given the double top formation on the 4-hour chart, Cryptocurrency analysts expect the price to drop again. In the first scenario, if the BTC price falls below the support level of $56,000, the downward trend is expected to reach the level of $53,000. However, if the downward momentum does not stop, the decline is far from over. In this case, the chart shows the price dropping below $53,000 and heading towards $52,000. However, this seems to be the worst-case scenario rather than the expected target. In addition, due to the rise in Trading Volume during the downward trend, analysts believe this indicates long selling behind the scenes, which could lead to a price decline. "The increase in volume during the recent days of decline indicates strong selling pressure. This reinforces the current downward trend," Oakes said. The current BTC price is struggling to maintain the level of $58,000. However, according to the data, BTC still pumped 1.08% in the past day. (Data Source: Scott Matherson)

On June 6, Jinshi Data reported that the S&P Dividend ETF rose against the trend with a turnover of 35.28 million yuan. The S&P Dividend ETF has risen more than 11% so far this year. Data shows that the number of S&P Dividend ETF shares increased by 2 million yesterday, with a net capital subscription of 2.25 million yuan. The latest net asset value calculation is 316 million yuan. Institutions believe that the position of dividend strategy is not overheated at present, and its allocation advantage in a complex environment is more prominent. From a medium and long-term perspective, the low interest rate environment may become the new norm, and a new wave of investment focusing on value reshaping may have quietly emerged, and dividend assets are already embracing the new era. You can use the S&P Dividend ETF to easily layout high dividend and high dividend zones.

Google's (GOOG.O) cloud division has seen massive layoffs this week. According to an internal document reviewed by Business Insider and an employee familiar with the matter, employees on longest Cloud teams were told their jobs would be canceled. The total number of affected employees is unknown, but the employee estimates that about 100 employees in the cloud division's "Go To Market" team in the Asia-Pacific region have been laid off. The cloud team, which focuses on consulting, partner engineering, and sustainability, has also been affected by the layoffs, according to the document. According to the report, layoffs have become the norm within the search giant, and Google has been laying off employees for a year and moving some positions elsewhere. Compared to Google's surgical layoffs on other teams in recent months, this week's cloud layoffs appear to be more radical.

PANews May 24th news, according to Cointelegraph, Bloomberg ETF analyst James Seyffart has always said that the approval of the Ethereum spot ETF's S-1 may be completed "in a few weeks", but he also pointed out that "it may take longer" because the process usually takes up to five months. However, Bloomberg ETF analyst Eric Balchunas responded, "It is definitely possible in mid-June." Balchunas expects that there will only be one round of comments on the amended S-1 document, similar to the feedback provided by the SEC to applicants for spot Bitcoin ETFs. He pointed out that this process takes about two weeks, which is how he came up with the estimated result in mid-June. However, Gabriel Shapiro, the general counsel of Delphi Labs, pointed out that the approval from the U.S. SEC was made by its Division of Trading and Markets under "authorization," and claimed that any of the five SEC commissioners would have the right to challenge this decision within the next 10 days. Joe Carlasare, a digital asset lawyer, said that while theoretically someone could question this decision, "in practice, they won't." He said, "They wouldn't approve this decision from the Division of Trading and Markets without making sure there's no commissioner opposing it." Seyffart seems to disagree with this view, noting that making decisions in an authorized manner is the "norm" because requiring a formal vote for every decision and document would be "insane." He added that requesting a review is unlikely to have any impact on the approval result.

The Bank of Japan said in a report after holding its second comprehensive policy review workshop on May 22 that there are signs of change in Japan's price and inflation standards against the backdrop of high wage growth and rising import costs. The document released by the Bank of Japan after the workshop on Tuesday showed that with the continuation of loose monetary policy and the worsening shortage of labor in Japan, the supply side of the labor market seems to be changing with the realization of high wage growth. The document showed that the tremendous impetus brought about by soaring import costs is changing the long-standing low inflation norm that has been prevalent among Japanese companies and consumers. However, the policy assessment aims to comprehensively evaluate policy formulation over the past 25 years and does not intend to indicate changes in monetary policy.

Golden Ten Data on May 4, the latest data released by Standard & Poor's showed that the British manufacturing purchasing managers' index PMI in April was 49.1, returning to the contraction range. Among the five major components of the PMI, the four major indicators of the UK manufacturing output, new market orders, employment and raw material procurement in April all fell into contraction. The falls made the expansion of the British manufacturing sector in March unusually short-lived, ending after only a month. In the eyes of industry insiders, the British manufacturing industry continued to shrink in April, which should be the norm in the market, for no other reason, and a series of core problems plaguing the British manufacturing industry have not yet seen signs of being resolved.

On April 29th, according to the arrangement of the State Flood Control and Drought Relief Headquarters, Vice Minister of Water Resources, Chen Min, led a team from the headquarters to inspect flood control and drought relief work in the Yangtze River Basin from April 23rd to 27th. The inspection team pointed out that the flood control tasks in Hubei, Hunan, and Jiangxi provinces are heavy, and these provinces are the key flood control areas in the middle and lower reaches of the Yangtze River. It is predicted that the climate conditions in the country during this flood season will deviate from the norm, with more extreme weather events. Particularly in the middle and lower reaches of the Yangtze River, there may be severe flooding. The flood control and drought relief systems in these three provinces still have some weak links, and the flood control and drought relief situation is complex and severe. The inspection team emphasized that the flood control and drought relief responsibilities at all levels should be strictly implemented. It is necessary to comprehensively investigate and rectify hidden risks, and restore flood control functions of water-damaged projects in a timely manner. Strengthen the management and inspection of embankments and reservoir safety, and pre-position emergency response forces and materials to firmly hold the safety baseline. Accelerate the construction of flood storage and detention areas, revise and improve the use of plans and personnel transfer plans in a timely manner, ensure the timely and safe and effective use of flood storage and detention areas, and enhance coordinated response to disasters.

PANews reported on March 28 that in the trial of SBF (Sam Bankman-Fried), Judge Kaplan said: "Thank you. Is there anyone else? No? Okay... Normally, I'll make a list of the various documents I've considered in my records. I'm going to deviate from the norm. As of 9 o'clock last night or this morning, I have received more than 1000 pages of documents. 451 of those pages are from the defendants, with the same number of documents provided by the U.S. government, as well as the Victim Impact Statement (VIS). Commenting on SBF's (Sam Bankman-Fried) trial, Mukasey said, "My team didn't go through the trial, but we studied the records. The government stated that James Nicholson had stolen from widows. Karl Greenwood was sentenced by Judge Ramos. "The Inner City Press reported on the Second Circuit Court of Appeals appeal against Greenwood's sealed documents. In defense of SBF (Sam Bankman-Fried), Mukasey noted: "Madoff stole from Holocaust survivors. But Sam is not such a person. He didn't want to cause pain to anyone personally in any way. Sam is not a ruthless financial serial killer. He is not predatory. He makes decisions based on mathematical calculations in his head, not malice in his heart. Mukasey noted of SBF (Sam Bankman-Fried): "He was a clumsy math nerd. He is passionate about vegetarianism. He has wisdom beyond the ordinary. He's a wonderful puzzle. His ability to parse words surpassed that of the Talmudic scholars. As a billionaire, he doesn't care about material possessions. ”

PANews reported on March 6 that, according to official news, recently, IEEE SA (Institute of Electrical and Electronics Engineers Standards Institute)/NesCom approved the standard proposal P3233 Standard for Blockchain-Based Decentralized Storage Protocol managed by IEEE C/BDL and led by CESS (Cumulus Encrypted Storage). Specification (blockchain-based decentralized storage protocol specification). The IEEE P3233 standard will provide a benchmark for decentralized storage technology and will also set the norm for projects that meet industry requirements, have the ability to innovate, and have the potential for sustainable growth.

Bitcoin dived after breaking a new high, with more than 300,000 people liquidating their positions and $1.2 billion evaporating On Tuesday, Bitcoin plunged sharply after hitting a new all-time high for the first time in more than two years. BTC topped $69,210 on Tuesday morning before quickly retreating, briefly falling below $60,000 during the session and now rebounding above $61,000, the data showed. Ethereum rose 6.5% at one point to $3,828.81 before erasing all gains and falling to $3,412.64, with other major altcoins such as ADA, DOGE, and SHIB falling about 10%-12%. The market skyrocketed and plummeted, causing nearly $1.2 billion to be liquidated across the network. According to the data, 318,392 traders were liquidated in the last 24 hours, totaling $1.19 billion. Among them, the long positions were liquidated by $878 million and the short positions were liquidated by $310 million. The largest single stop-out order occurred on a platform and was for the $11.35 million LINK/USD trading pair. Will Clemente said on the X platform that Tuesday's liquidation reminded him of Bitcoin's movements around Thanksgiving Day 2020. At that time, the bulls were eyeing an imminent break above the $20,000 level, but Bitcoin plunged after hitting $19,500 and fell to around $16,000 in a short time. In his X post, he said, "Any dip is to wash off the shackles of high leverage and buy at this time. Some analysts warn that the market could soon cool down as unrealized margins approach extreme levels. Ed Tolson said: "The market is expected to see a significant correction, which could be between 10% and 20%. Any substantial decline will lead to cascading liquidations in the crypto perpetual swap market, with retail investors pouring into leveraged long positions and very high funding rates. He added: "Over the next few quarters, we expect Bitcoin to perform well, but there will be significant corrections along the way." Analyst Owen Lau also said: "The rise is so fast that we are cautious about a correction, but there are still catalysts to support positive price action in the long run". He added, "As Bitcoin becomes more valuable, it becomes more useful. With a higher market cap and daily circulation, it can support a larger allocation. Bitcoin's volatility continues to decline over time, allowing for the allocation of larger position sizes. 」 Speculation is rife about Bitcoin's future price movements, with some analysts wondering whether the recent pre-halving peak has accelerated the usual market cycle. Historical data shows that traditionally, Bitcoin has taken about 500 days to reach all-time highs after the halving. This deviation from the norm suggests that we may be entering a new era of Bitcoin price action. The cryptocurrency community remains divided about the impact of the recent price correction and its impact on future market trends. Some analysts believe that Bitcoin may experience sideways volatility before continuing its upward trajectory. At the same time, there has been some speculation that the potential impact of Bitcoin ETF spot inflows and other market factors is a key factor in determining Bitcoin's path forward. Institutions have started pouring into the sector since the launch of spot bitcoin ETFs in January, which have had record performances over the past six weeks of trading, with spot bitcoin ETF trading volumes once again setting a new record at $10 billion as of Tuesday's close. Alex Thorn said: "Bitcoin has once again hit new all-time highs, showing that it will never go away. In its 15 years of existence, Bitcoin has experienced four drawdowns of more than 75%, but each time it has rebounded significantly. 」 (Source: Mary Liu)

In response to the U.S. prosecutor's statement that they would drop the second trial of SBF on additional charges, U.S. presidential candidate Robert F. Kennedy Jr. (nephew of former President John F. Kennedy) said on the X platform: "No one is even surprised by this. This is a bigger problem than the fraud itself, which shows how normalized corruption has become. ” Previously, prosecutors sent a letter to U.S. District Judge Lewis Kaplan on Friday, saying that they would abandon the trial plan for SBF on charges of conspiracy to bribe foreign officials, bank fraud and operating a money transfer business without a license.

Odaily Planet Daily News Greeks.live macro researcher Adam posted on the X platform: "The Christmas holiday superimposed on the annual rollover effect, all major maturities of IV have declined significantly, especially the short-term Options expiring in the last few trading days of this year, IV has declined significantly. Bitcoin has risen nearly 3 times this year, but no IV above medium maturity has ever broken through 70%. This is the first time since the birth of the crypto options market, and it is likely to be the norm in the future crypto market. Compared with other trading markets, this is also a sign that BitcoinDerivatives is maturing, and with the imminent adoption of ETFs, Crypto AssetsDerivatives will undoubtedly become an important mainstream investment target in the future. ”

Huitong Financial News Bank of Japan member Noguchi Asahi: Global price pressures are breaking the norm in Japan.

According to TechWeb's report on September 14, Maimai Gaopin released the "2023 Insights on High-end Talents in the Game Industry". "Insight" pointed out that AI technology has gradually been applied to all aspects of the game industry such as planning, art, programming, and operations. 74.95% of game industry practitioners have used AI tools to varying degrees in their work, among which many people use AI tools frequently every day. Practitioners used were 7.19%. Nearly 20% of practitioners have not yet used AI in their work, but they are also actively learning. Lin Fan, founder and CEO of Maimai, believes that in the future, the degree of adaptation of workers to AI will determine their salary levels. Mid- to high-end workers will establish a partnership working relationship with large AI models, and cooperation with AIGC will become the norm. The gap in mid- to high-end talents continues to expand.

Odaily Planet Daily News Arkham CEO Miguel Morel responded to the recent criticism that the project may leak private information, saying that "the lack of privacy is the inherent mode of operation of most public chains today", he said: "You are actually conducting transactions, and are broadcasting to a decentralized network of millions of people, all of whom can see on-chain which transactions are being broadcast. A publicly available blockchain is probably the worst way to keep private information private. " Morel also said, “Arkham’s main clients are traders and hedge funds — those who make money by getting information about large buy and sell positions in a particular token.” (Coindesk)

Odaily Planet Daily News Reddit co-founder Alexis Ohanian said that in the next five years, most gamers will not play games unless they are properly rewarded at that time, as the wider public adapts to cryptocurrency and NFT transactions , these games may face adoption hurdles, but as these technologies scale, play-to-earn will become the norm in gaming. (Decrypt)

Golden Finance reported that Reddit co-founder Alexis Ohanian said that in the next five years, most gamers will not play games unless they are properly valued at that time, as the wider public adapts to cryptocurrency and NFT transactions , these games may face adoption hurdles, but as these technologies scale, earning while playing will become the norm in gaming. Axie Infinity has generated more than $4 billion worth of NFT transaction volume to date, but the game's groundbreaking money-making economy collapsed in early 2022. Axie’s token price has dropped significantly, with the in-game SLP reward token now down 99.5% from its peak price, and the AXS governance token down 96% from its all-time high.

don't have high expectations There is no shortage of hundred-fold myths in the currency circle, so many people think this is the norm, As soon as you enter the market, you think about the goal of doubling a day and 10 times a year, buying a house or a car, and the fantasy of getting rich overnight is always there. Corresponding to the mentality, it is that you cannot accept losses, are extremely greedy, and fight against luck.