According to Odaily Planet Daily, Bitcoin is expected to benefit as the U.S. economic recession becomes a 'baseline scenario expectation.' Multiple sources are pessimistic about the U.S. economy and the Federal Reserve, as U.S. GDP growth unexpectedly turned negative in the first quarter, and trade tariff policies may exacerbate inflation, leaving the Federal Reserve in a dilemma. It must choose between curbing inflation and managing unemployment rates, with the extent and timing of interest rate cuts being crucial.
The Chicago Mercantile Exchange FedWatch tool shows that market expectations for Federal Reserve policy are conservative, with little change expected before 2025. Cryptocurrency market participants are weighing the direction of Federal Reserve policy, with well-known trader Skew stating that the probability of interest rate cuts is rising, and the Federal Reserve is more focused on economic weakness.
● Former U.S. Treasury Secretary warns that tariff policy may lead to economic recession
According to Deep Tide TechFlow, former U.S. Treasury Secretary Yellen stated that the U.S. government's tariff policy will have an 'extremely adverse' impact on the U.S., negatively affecting consumers and businesses.
Former U.S. Treasury Secretary Summers stated that the market expects a 70% probability of the U.S. economy falling into recession this year, and if policies are not adjusted, the economic situation will worsen.
● U.S. initial jobless claims reach 241,000, hitting a new high since the week of February 22, 2025
According to BlockBeats, the number of initial jobless claims in the U.S. for the week ending April 26 was 241,000, reaching a new high since the week of February 22, 2025. The expectation was 224,000, and the previous value was revised from 222,000 to 223,000.
● Analysis: Gold futures plummet due to a decline in safe-haven demand
According to Jin Ten data, institutional analysis indicates that gold futures have plummeted due to easing trade tensions and a decline in safe-haven demand. The strengthening dollar has further dampened enthusiasm for gold as a safe-haven asset, making dollar-denominated commodities more expensive for international buyers. The U.S. is likely to reach a trade agreement, and market optimism and risk appetite are rising. However, further losses may be limited, as expectations for interest rate cuts have also increased following a series of weak economic data from the U.S., which saw the economy contract by 0.3% in the first quarter. Lower interest rates typically stimulate demand for non-yielding gold.
● Strategy announces a $21 billion stock issuance plan and raises BTC yield target
According to Deep Tide TechFlow, on May 2, Strategy announced a new $21 billion public market common stock issuance plan and raised its BTC yield target from 15% to 25%, and the BTC dollar yield target from $10 billion to $15 billion. As of April, the company held a total of 553,555 Bitcoins, with a purchase cost of $37.9 billion, averaging $68,459 per coin.
Strategy stated that its capital market strategy continues to grow Bitcoin holdings while delivering exceptional value to shareholders.
● Tether holds over $7.6 billion in Bitcoin and releases Q1 report
According to Deep Tide TechFlow, on May 2, Tether released the latest proof, stating that the company holds over $7.6 billion worth of Bitcoin.
Earlier news reported that Tether released its Q1 report, with U.S. Treasury holdings nearing $120 billion and traditional investment operating profits exceeding $1 billion.
● 21Shares applies for U.S. Sui spot ETF, expanding into the U.S. market
According to Cointelegraph, European crypto investment firm 21Shares has submitted a Sui spot ETF application to the U.S., marking another step in its expansion into the U.S. market. 21Shares filed Form S-1 registration for the Sui ETF with the U.S. Securities and Exchange Commission on April 30. The ETF aims to track the performance of SUI held by 21Shares' U.S. subsidiary. Last July, 21Shares launched the Sui Staking ETP in Europe. The application did not specify the exchange or code for the ETF. Canary Capital was the first company to apply for the Sui ETF. The Sui ETP is already trading in Europe, with assets under management reaching $400 million.
