News

BlockBeats News, May 11th, according to GMGN market data, the BSC ecosystem meme coin 'an exchange Life' surged over 21% in the past 24 hours, with a current market capitalization of $456 million.

ChainCatcher reports, according to CoinGlass data, in the past 24 hours the total amount of liquidations in the cryptocurrency market reached 100 million US dollars, including 34.6223 million US dollars in long liquidations and 65.5527 million US dollars in short liquidations.

BlockBeats reported on May 10 that CryptoQuant analyst Axel Adler Jr published a post expressing caution regarding the recent price trend of Bitcoin, stating that the current price rise is a corrective rebound following a steep drop, rather than the confirmed start of a new bull market. He pointed out that after BTC dropped from $125,000 to $60,000, the market has seen some recovery, but multiple on-chain indicators have not reached the historical bear market bottom ranges. For instance, Long-Term Holders (LTH) positions have yet to demonstrate a typical bottom accumulation pattern, and the market has not gone through a complete spot sell-off and panic-clearing phase. On the macro side, Axel Adler Jr believes the market is also under pressure. Citing data, he noted that the US Consumer Confidence Index has dipped to a historic low of 48.2, while Brent crude oil remains near $100, heightening inflation concerns. Additionally, the 10-year US Treasury yield has risen above 4.5%, putting further pressure on risk assets. He stated that the current interest rate market is no longer betting on a rapid rate cut by the Federal Reserve, and has even started pricing in future rate hikes. Against this backdrop, he believes BTC still lacks sufficient confirmation of on-chain structure, stable spot demand, and a release of supply-side pressures, so he maintains a cautious stance.