ETH breaks through the $1850 mark

Market sentiment remains positive, but signs of exhaustion appear as BTC nears key technical and psychological levels.

BlockBeats News: On May 16th, renowned semiconductor analyst Dylan Patel stated that the United States has signed two landmark agreements with the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA), which will significantly change the balance of power. These agreements have profound impacts on the economy, geopolitics, and national security, and will consolidate the United States' leadership position in the field of artificial intelligence. Dylan Patel believes that these agreements are transformative and will raise the accessibility of American AI infrastructure to a new level, while alleviating bottlenecks such as power. All American infrastructure suppliers will benefit, from GPU manufacturers to artificial intelligence labs, to cloud computing, and so on. Dylan Patel's above viewpoint was forwarded by David Sacks, the White House director of cryptocurrency and artificial intelligence.

Odaily Planet Daily News: According to official announcements, BitMart will launch NKN (NKN) on May 16th at 12:00 (GMT+8 time), which will open NKN/USDT trading pairs. Nkn (New Network) is a new type of network infrastructure and ecosystem driven by blockchain technology, which is open, decentralized, and community shared. Nkn encourages users to share excess network bandwidth, assists device service providers in effectively configuring network resources, and encourages individuals and businesses to deploy more nodes to join the network, providing data transmission services for other nodes and thus obtaining economic returns. The goal of Nkn is to use blockchain technology to create new opportunities for network transmission and solve the problems of resource allocation, transmission efficiency, and value transmission in the current network. Following the computing power of Ethereum blockchain and the storage capacity of Filecoin/IPFS blockchain, Nkn has become a public chain infrastructure that blockchains another core element of information technology - network transmission resources. Its technological innovation lies in dynamic routing, network relay proof, highly scalable consensus mechanism, and resource sharing incentives. The Nkn token is the original token in the Nkn ecosystem economy, used to encourage network resource sharing and effectively utilize excess network bandwidth.

According to AiCoin monitoring, a large amount of funds flooded into the US spot BTC ETF market yesterday, with a net inflow of up to $115 million. Among them, IBIT was the largest inflow, with a daily net inflow of $410 million; Next is BITB, with a total of 0 million US dollars. According to the "Spot BTC ETF Tracking" real-time trading strategy developed by AiCoin, there is a significant positive correlation between the inflow of ETF funds and BTC prices. Subscription indicators can be used to automatically place orders based on the flow of funds in the program. Data for reference only

The current BTC price is around 104000, and the distribution of chips shows significant support in this range, with relatively balanced chips. Combined with the recent decline in trading volume to an average level of 40.39%, it suggests that the market is brewing direction choices. If the price falls below support, the space below may open up; If it stabilizes, it is expected to continue the upward trend. The latest 90 minute cycle K-line shows a top split pattern, coupled with KDJ overbought signals, indicating a short-term pullback risk. But the strong support from the EMA24/52 moving average suggests that a retracement could be a buying opportunity. Accurate positioning support and pressure for chip distribution, helping you plan ahead! Open membership, unlock chip distribution, and accurately capture change signals! The data is sourced from the PRO member's [BTC/USDT Binance USDT perpetual 90 minute] candlestick, for reference only, and does not constitute any investment advice.