Orange Evening Interpretation 5.23 The pie is stable above 11w, but the cottage market has not ushered in the market of chicken dogs ascending to heaven, and the funds in the circle may have to wait and see if the main force can continue to firepower, at least draw the continuous rising trend line after 11w, for example, last night's high rushed to around 11.2w, and go up again today, this verification time may take 3-5 days That is, if the weekend market can continue, then the funds focusing on copycats will take action, and now many copycats are on the verge of breaking through, such as the ETH/BTC exchange rate has fluctuated upward since the 19th. The recent high is 0.026, if the weekend can break through, then other cottages will definitely follow, so the reason why there is not much movement in the cottages is because there has been no decent copycat bull market in this round, everyone's mood has been in the doldrums for too long, and the market needs more confirmation of the rise to get high. In addition, there have been some uncertainties in the macro recently, such as the trade agreement negotiations between Trump and the EU seem to be collapsing, Europe and the United States do not intend to make concessions, the EU is only willing to provide mutual tariff reductions, and the United States is asking for unilateral concessions from Europe, Trump has already released cruel words, if it does not meet the requirements of the United States as soon as possible, the EU will face more tariffs, looking at this tone is to make the EU as China, the market is still quite worried about the trade war between Europe and the United States; Then last night Trump's 3 trillion deficit budget bill was passed in the House of Representatives by 1 vote, this bill is expected to increase federal debt by about 3 trillion US dollars in the next ten years, last night the long-term yield of US bonds soared to more than 5.1 because of this, before the tariff stick market has come to the conclusion, now the market is most afraid that the US bond yield is too high, many small partners do not understand, I give an example, if you can get a 5% yield by buying bonds in China, will you still go to the big A to fight for your life, will you still be stupid to start a business, What kind of work can ensure that you get an annualized risk-free return of 5%, the same applies to U.S. stocks, U.S. bond yields are too high will inevitably suck blood from the stock market, which is why the stock market is not very good these days, but due to the increase in uncertainty, gold and the pie are going very well, yes, the pie is now also a safe-haven asset. Last night, Kraken announced that it supported more than 50 U.S. stock transactions, basically the mainstream of U.S. stocks supported it, and also supported stock splits. You can use USDT to buy 0.1 shares of Apple stocks, this is really awesome, it reminds me of FTX back then, although this is not completely good for the currency market, although it can allow a large number of U.S. stock traders or retail funds to enter CEX, but it is also more convenient for the currency market funds to flee to the U.S. stocks, the reverse example is that the Bitcoin ETF is listed on the New York Stock Exchange and the NASDAQ, which seems to provide more choices for U.S. stock traders, but in fact, the U.S. stock funds are sucked to the currency market , Now they all go to buy IBIT, and then BlackRock buys the pie from Coinbase and escrows it, which is why this round of bull market pie is the only reason why the pie is beautiful, because the person who pulls the plate is BlackRock, he just helps customers buy Bitcoin, and the other coins are not seen. In terms of the currency market, $sui has created a miracle again, $cetus 220 million were stolen, and the main chain of the stolen DeFi protocol is not falling, is this the power of Qiangzhuang? Then SUI officially took the initiative to freeze the hacker's assets of 160 million, which was sprayed by the market to centralize, super permission, a word, I can't wait for the whole network to come out and step on it, I think there is nothing wrong with this SUI, after all, hackers are easy to distinguish between good and evil, since they have the ability to reduce losses, why do they have to pretend to be weak chickens, and the last person to suffer is the stolen retail investor, I don't think the pursuit of absolute decentralization must be good, although it can do this can indeed improve the upper limit of the public chain, at present, only btc and ETH can be done, as long as the hacker exchanges the stolen coins for these two, basically there is no technical means to freeze or recover But the currency market is not only these, for the fledgling public chain such as SUI, pulling the plate and ensuring security is the first, and the other ideals are virtual, and even the usual decentralization, the use of super authority error correction at critical moments This is the advantage of the new public chain compared with the old guy like Ethereum, just like a few months ago, $hype also chose to roll back in order to avoid the loss of 200 million platforms, and was scolded as a dog at the time, but today $hype is still ath, and it has been praised by the market. SUI and HYPE are really good projects, and many sanctimonious public chains are neither pulled, but stolen and dead, which are all stinky shit.