The Crypto Assets market is experiencing a Rebound, with ETH potentially leading the alts in a pump.

1. Improvement of the Macroeconomic Environment

1. Tariff policies ease. Trump stated that the tariffs on Chinese imports are too high and are expected to be significantly reduced. This has alleviated market risk aversion.

2. Expectations of interest rate easing. The market anticipates rate cuts starting in June, with potential reductions of 3 times within the year, which may inject new liquidity.

3. Promotion of crypto-friendly policies. The United States is establishing a strategic Bitcoin reserve, with multiple states advancing Bitcoin reserve bills. Two stablecoin bills are also in progress. The new SEC chairman Paul Atkins is seen as friendly to the encryption industry.

4. BTC has shifted from bearish to bullish. Since mid-March, BTC has performed stronger than the US stock market, and at the beginning of April, technical indicators showed bottom signals. Currently, the trend has changed from bearish to bullish.

2. ETH may lead alts Rebound

1. On-chain data shows that ETH is severely oversold.

• The number of profitable addresses has sharply decreased to around 35%, below the levels seen during the bear market of 2022.
• MVRV indicator has dropped to 0.8, entering the oversold zone
• Cost distribution shows that there are a large number of long-term holders' chips near $1850.

2. The contract market is active

• The ETH contract open interest is $21.8 billion, with an OI/MC ratio of 10%, higher than other mainstream coins.
• On April 22, the contract open interest increased significantly, driving the price to突破 the resistance level of 1650 USD.
• The scale of ETH contracts on multiple exchanges is several times that of spot reserves.

3. Technical indicators show bullish signals

• The K-line pattern shows a Wyckoff spring and a bullish engulfing.
• Price breaks through the 20-day moving average
• The MACD and momentum indicators show a bottom divergence
• RSI and MFI have entered the oversold territory.

3. Some alts have already seen a significant rise

1. NEIROETH

• 3-day rise exceeds 200%
• The contract trading volume is 24 times that of spot, showing significant volatility.
• The OI/MC ratio reached 13.8 times
• Large holders have a dominant long position

2. ZEREBRO

• The open interest has risen by over 300% in the last 24 hours.
• Trading volume pump 782%, price rise 165%
• Funding rate is positive, higher than the usual level
• Large holders are bullish, the long-short position ratio is 0.45

Currently, ETH is at a key breakout position. If it successfully breaks through, it may drive more alts to pump. Investors should pay close attention to the unusual movements in contract data to seize short-term opportunities.