Dear Readers, 

As expected, the crypto markets witnessed a sharp fall post the Ex Binance CEO, CZ's imprisonment for 4 months and we have covered a detailed article earlier. Eventhough it is considered as a very short sentence, it is to be understood that everyone should honor the laws of the land. 

In this connection, I was quite surprised to see the No 4 connection in all this sequence. That is 

• $ 4 million fine for Binance
• 4 months sentence for CZ. 
• 4th month of the year 2024.
• 4th BTC halving period now. 
• BNB being the 4th largest Cryptomarketcap.

The FOMC meeting was also considered an important event. I think with the upcoming elections in US, the FED Chairman Powell's speech was so soft and they clearly said that they have not done any changes in the interest rate even in the next FOMC meeting too.

But still we have witnessed a fall of 23% in the BTC price earlier. It was widely expected that the inflow would be greater in Hongkong Market with the ETF entry. Though the ETF was performed good at Hongkong market at its marketcap, people expected in compare with the US market cap which went  a total wrong in the market. 

But those who watched the BTC movements from the lower area to hit its peak during its uptrend at the 72000 USD, this 23% is a mere thing as it had witnessed the same kind of corrections earlier too. This correction is very similar to the one in August 2023. If this price is going to be bottom price of BTC, it would be too good. 

But if it breaks this current level, the other supports at the lower levels are at $ 56000-55000 and 52000. 

All the big events in BTC is over now. I mean, the ETF and the BTC halving. 

                                                                          BTC Dominance Chart from Trading View

We need to check with the BTC dominance. It is sharply declining. This may be because of the satoshi trading by the investors. As this period is an ideal time for the satoshi trading. This means investing in the altcoin through the BTC pair to make the amount of BTC increment with the altcoins. That's why the alt season blossoms. 

But there is a  big news around ETH. Yes, the ETH ETF is pending. And by 23 May we can get to know the full details of this. 

We also be prepared the situation of not approving ETH ETF as well in the cryptomarkets. But I think this would be an unlikely event as big players like Blackrock is in the list as well.

At this point of time, I suggest to do the DCA for BTC for the next bull run to reap the profits. 

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