Influenced by short-term long-short game, VELO is currently at a technical support range of $0.00305-$0.00308. Trading volumes and capital flows indicate cautious market sentiment, with a high probability of short-term pressure and sideways fluctuations. However, continuous ETF inflows and undiminished long-term holding confidence provide support for a mid- to long-term price bottom. Considering macro policy uncertainty and regulatory pressure in the industry, investors are advised to monitor the strength of support zones and the progress of ecosystem adoption, maintaining a strategy of low-level allocation and buying on dips. The core risks lie in support level breakdowns and negative regulatory developments.

Recent on-chain trading volume bars and cost-basis indicators show a marked increase in selling pressure, while perpetual market long funding rates continue to decline, indicating weak buying momentum. On the daily chart, since peaking at $0.00360 on April 9, the price has repeatedly broken through the $0.00320 support and stabilized around $0.00306, reflecting short-term bearish dominance. Market sentiment leans toward caution and slight panic, and short-term low-level consolidation may continue.

Glassnode's latest report highlights intensified market tug-of-war with spot CVD turning negative, indicating increased selling pressure and emerging bearish sentiment. Futures show rising risk appetite but declining long funding rates, reflecting growing bearishness. Options suggest reduced downside protection demand and neutralizing volatility. Meanwhile, US spot ETFs see rising MVRV and inflows, boosting investor interest and supporting cautious optimism amid stable long-term holder confidence.

Glassnode: Market bullish and bearish struggles intensify, spot CVD turns negative indicating increased selling pressure, but ETF inflows provide support.

Despite short-term declines, sustained capital inflows into U.S. spot ETFs and a rising overall MVRV ratio provide medium- to long-term support for the market. From a technical perspective, the $0.00305-$0.00308 zone has seen several rounds of buying support, forming a range bottom. Long-term holders’ confidence remains largely undiminished. If this range holds, a rebound may occur as market sentiment recovers. Investors are advised to watch trading activity and volume ratios at this critical level.

On the macro level, expectations of global energy supply tension and an uncertain on-chain regulatory environment combinedly affect overall risk appetite. Industry dynamics show increasing DeFi security incidents and policy compliance challenges, with investors paying more attention to technological maturity and ecosystem stability. As a Layer2 scaling solution, VELO benefits from low fees and cross-chain operability, providing it strong competitiveness in a tightening market landscape. Its long-term value still depends on the implementation of ecosystem applications and progress in regulatory compliance.

Velodrome Finance

Analyst: Interest rate decision will be the main market driver, focus on the impact of Middle East conflict.

US Treasury yields rise, market focuses on this week's central bank meetings.

Barclays: The Federal Reserve will keep interest rates unchanged this week, but may still cut rates within the year.

Bank of England to keep rates on hold while it gauges impact of Iran war

The Bank of Japan is widely expected to keep interest rates unchanged on Tuesday, setting up a communication challenge for Governor Kazuo Ueda as the foundering yen hovers near levels that have prompted past interventions.

The probability of the Federal Reserve keeping interest rates unchanged in April is 100%, while the probability of a rate cut in June is only 4.7%.

HTX DeepThink: After Interest Rate Cut Expectations Are Postponed to September, the Structural Differentiation of the Crypto Market Intensifies

FOMC Meeting: US Fed Expected To Hold Rates Till 2027 Despite Kevin Warsh Taking Charge

Senate Committee Sets April 29 Vote To Advance Pro-Crypto Warsh’s Fed Chair Nomination

The global oil shock has the Fed cornered just days before its next meeting — what that means for Bitcoin

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Velodrome Finance Price: VELO Live Price Today | VELO Market Cap & Chart Analysis | Bybit-eu

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VELO price today is 0.02, with a live price change of -1.18 in the last 24 hours. Convert, buy, sell and trade VELO on Bybit-eu.

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