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From this week, Federal Reserve officials will enter a quiet period before the interest rate meeting. Last Friday, the U.S. will release non-farm payroll data and unemployment rate for May. The previously released non-farm payroll and unemployment rate have shown signs of weakness. Let's see if they continue to be weak this week to facilitate a smooth rate cut. Previously, Powell publicly stated that unexpected deterioration in the labor force would accelerate the Fed's rate cut. In other aspects, the European Central Bank will announce its interest rate decision on Thursday. The frequent warm breeze of rate cuts before raises our key concern about whether it will lower interest rates by 25 basis points. Currently, the market expects the European Central Bank to cut interest rates with high probability, waiting for the first cut to come. Once the European Central Bank starts the rate cut cycle, the pressure will shift to the Fed as the euro and the dollar are in an adversarial relationship. The European Central Bank is expected to cut rates in June (high probability), and the Fed is expected to cut rates in September (high probability). The later the timing, the more optimistic the market becomes. It seems that the turning point for the start of the monetary easing cycle is about to appear, with the rate cut cycle, ample liquidity, and continued support for the bull market, the market is very optimistic.

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Bitcoin oscillated and rose above the 68000 level in the morning, sequentially breaking through 68500-69200. It reached a high near 70300 by breaking through the 70000 level last night, but fell back under the pressure of 70500. After the rise, it pulled back to around 68500. The weekend's oscillation correction also showed results in Monday's trading. The price continued last week's upward trend and broke through the high, but the pace was not too fast. The strong intraday rise not only consolidated the short-term bullish trend, but also led to the breakthrough and stabilization of the resistance level adjusted last week on the daily chart. The evening pullback did not have a significant impact on the bullish trend. There is no continuous rise without a fall. All pullbacks can be seen as corrections. We still have confidence in the bullish trend.

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Ethereum surged to a high of 3854 in the evening, but pulled back under pressure from the 3880-3920 resistance zone. Compared to Bitcoin, Ethereum has a smaller overall volatility. Due to the rapid rise in the previous period, it is currently in a phase of consolidation and correction. From the 4-hour technical indicators, the KDJ indicator has turned upward, while the MACD indicator is in a bearish contraction phase. The BOLL indicator is closely following the price in the middle band zone. At the same time, after the short-term MA moving average completes its adjustment, the price has stabilized above the MA three-day moving averages. In the future, attention should be paid to the bottom stabilization around 3720-3750 and the continuation of the bullish trend!