Yesterday, Mt. Gox transferred out more than 107,000 BTC through cold wallets again after 6 years, with a market value of over 7 billion US dollars, and the market's short-term correction pressure has increased.

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Optimism continued to grow yesterday, with the altcoin market boosted by positive developments in Ethereum and PEPE hitting a new all-time high.

Bitget's current focus and future plans

BWB is not only the ecological token of Bitget Wallet, but also the system token of Bitget Onchain Layer.

Last week, BTC spot ETFs had net inflows for five consecutive days. The inflows in the past two weeks have offset all outflows in April. BTC rose 9% in a week, but altcoins fell across the board, and the market lacked hot spots. The announcements of LayerZero and zkSync over the weekend indicated that they might issue coins in June, sparking heated discussions on social media.

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Yesterday, the U.S. announced that its April CPI exceeded expectations, which was generally interpreted by the market as positive news, and the crypto market rose across the board.

Yesterday, BTC led the market to pull back and recovered the weekend losses. The king of US retail investors returned, and Meme coins became the focus of the market.

The market showed a clear risk aversion before the release of the US CPI data on May 15, and the BTC price fell rapidly and then fluctuated over the weekend. The gas fee on the ETH network dropped to a low of 2 Gwei, the on-chain interaction activity was low, and the market was lacking in hot spots.

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Yesterday, BTC briefly fell below $63,000 and is now quoted at around $62,500. Currently, the power of Bitcoin mining machines leaving the factory is approximately 30W/T, and the shutdown price is around $60,000.

Yesterday, BTC rebounded to $65,500 in the short term, and then fell, and there are significant opportunities for intraday trading.

The lower-than-expected U.S. non-farm payrolls data for April boosted the market's expectations for rate cuts, and BTC began to rebound last Friday. During the rebound of the market, AI tokens rose across the board and performed strongly. Today, the gas on the ETH chain dropped below 5 gwei, and the activity on the ETH chain dropped to freezing point.

BTC spot ETF has seen net outflows for three consecutive weeks, and the market has fluctuated and fallen. The ETH/BTC exchange rate has rebounded to above 0.051, driving the Layer2 and Restaking sectors up. The US Federal Reserve will hold a monetary policy meeting and release a non-farm payroll report in early May, and the results of the meeting will have a significant impact on the market.

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