Analyst: BTC Selling Pressure has Dried Up, Consolidation Range Expected in April-May

On April 2nd, according to HTX market data, Bitcoin saw a rebound and briefly exceeded $86,000. It is currently trading at $85,958.

On April 2nd, based on HTX market data, this evening Binance's announcement of integrating ATH into the second-phase voting listing event has led to a more than 5% increase in ATH's price. Subsequently, Binance announced the launch of ATH futures contracts, which further boosted the price by approximately 7%, resulting in a total maximum increase of 13.7%. The current price is $0.032.

On April 2nd, when the U.S. stock market opened, the Dow fell by 0.6%, the S&P 500 fell by 1%, and the Nasdaq fell by 1.3%. Cryptocurrency stocks generally declined, including: · MicroStrategy MSTR, which fell by 2.61%. · Coinbase COIN, which fell by 1.54%. · MARA Holdings MARA, which fell by 2.20%.

On April 2nd, based on Coinglass data, there was a net outflow of more than $18 million in ACT spot trading on CEX within the past 24 hours. The net outflow on Binance was $14.9312 million and on OKX it was $3.15 million. During the past 24 hours, the trading volume of ACT spot trading on Binance was $198 million, and on OKX it was $31.69 million. As for derivatives, the total ACT futures trading volume in the past 24 hours reached $1.59 billion, which was a 47.28% increase compared to the previous period. The current open interest of the futures contracts is reported to be $69.29 million, a 16.75% decrease compared to the previous period.

On April 2nd, according to official channels, Grayscale Investments declared the initiation of the Grayscale Bitcoin Covered Call ETF (ticker: BTCC) and the Grayscale Bitcoin Premium Income ETF (ticker: BPI). It is reported that these two funds are the first batch within Grayscale to adopt a covered call option strategy for Exchange-Traded Funds (ETFs), aiming to create a distinctive source of income for investors by leveraging Bitcoin's volatility. BTCC mainly targets stable income while participating in price fluctuations through Bitcoin-related options. The fund earns premiums by selling out-of-the-money call options that are close to the current price and distributes dividends to investors on a monthly basis. This strategy is suitable for investors seeking stable cash flow while reaping the benefits of Bitcoin's volatility. Premium income can also offer a certain degree of cushion during a market downturn. While generating income, BPI retains Bitcoin's upside potential by sellin

On April 2nd, according to HTX market data, the price of ACT has fallen below $0.055 and is currently trading at $0.0537, showing a 24-hour percentage decrease of 44.7%.