LLJEFFY, ETH, BTC

As China announced a cut in the reserve requirement ratio and interest rate and confirmed economic and trade talks with the United States, the market's risk appetite has rebounded significantly.

The cryptocurrency market showed signs of recovery today as China announced a cut in the reserve requirement ratio and interest rate and confirmed economic and trade talks with the United States, boosting risk appetite.

Pan Gongsheng, governor of the People's Bank of China, announced this morning that the deposit reserve ratio of financial institutions would be reduced by 0.5 percentage points, while the policy interest rate would be reduced by 0.1 percentage points to 1.4%, and the housing provident fund interest rate would be reduced by 0.25 percentage points.

This decision, together with the news that the Chinese Ministry of Foreign Affairs announced that Vice Premier He Lifeng would hold economic and trade talks with US Treasury Secretary Benson during his visit to Switzerland from May 9 to 12, boosted market sentiment. Asian stock markets generally rose, and futures prices such as iron ore and steel also rose.

At the same time, the global market is focusing on the interest rate decision that the Federal Reserve will announce at 2 a.m. tomorrow. According to CME's "Fed Watch" data, despite Trump's continued pressure for a rate cut, the market expects the Federal Reserve to maintain interest rates unchanged in May with a probability of 96.9%, and the possibility of a rate cut is only 3.1%.

Goldman Sachs analyst Jan Hatzius' team pointed out that the Federal Reserve has set a higher threshold for interest rate cuts. Policymakers need to see more convincing evidence of an economic slowdown before taking action, especially hard data showing a clear weakening of the job market, such as rising unemployment and weak wage growth.

In other news, New Hampshire officially signed HB 302, becoming the first state in the United States to pass "Strategic Bitcoin Reserve" legislation. This legislation authorizes the state treasurer to purchase Bitcoin or digital assets with a market value of more than US$500 billion, with a maximum holding limit of 5% of the total reserve funds.

In the UK, Economic Secretary Emma Reynolds made it clear that the UK would not follow the United States in establishing a national cryptocurrency reserve, but tended to incorporate crypto assets into the existing financial regulatory framework and follow the "same risk, same regulation" principle.

Bitcoin has been fluctuating for two weeks. Glassnode analyzed that Bitcoin may face significant selling pressure when it approaches $99,000. FxPro analyst Alex Kuptsikevich further pointed out that the current key support levels of BTC are $92,500 and $89,000, and the market has returned to the key resistance zone from December to February. If it falls below $90,000, it will have a greater impact on the technical and psychological levels and may fall below the 200-day moving average.

In a recent interview, Binance founder CZ predicted that Bitcoin may be between $500,000 and $1 million in this cycle, and is optimistic about the combination of blockchain with AI, scientific research and other fields.

In addition, Futu Securities announced new progress. The official website shows that ordinary users can now recharge BTC and ETH to Futu accounts through personal wallets, with the minimum recharge amount of 0.0002 BTC and 0.001 ETH respectively. This move will further promote the integration of traditional finance and crypto assets.

The MEME market has been abuzz with the death of Zerebro co-founder Jeffy Yu in the past two days. The market value of its related token LLJEFFY once rose to $31 million, but has now fallen back to $5.7 million.

From 1:48 p.m. on May 4, LLJEFFY development wallets and multiple associated addresses began to frequently trade and destroy tokens. Today, it was confirmed that Jeffy Yu faked his death. With the truth revealed, this market-disturbing event may come to an end.