The PCE data will be released tonight. Will Bitcoin rise or fall? The crypto ETF craze is coming!
The U.S. April ADP employment number (10,000) will be released today, previous value 15.5
The U.S. March core PCE price index year-on-year will be released today, previous value 2.8
In terms of macro data, although the impact of PCE is generally underestimated, there is a clear divergence in the interpretation of GDP: one camp believes the market has fully priced it in, and the lagging data is not a concern; the other camp believes that low GDP actually reinforces interest rate cut expectations, which is favorable. Additionally, the earnings season is also a short-term factor supporting U.S. stocks.
Overall, uncertainty remains high, and it is wiser to remain cautious and wait for clearer signals.
Regarding Bitcoin, the current volatile market has not triggered significant turnover, and the atmosphere is thick with market observation. The main positions are still concentrated in the $93,000–$98,000 range, with short-term support still at $90,000, but due to the holders' short-term bias, further consolidation is needed.
Currently, it is fluctuating around $95,000, and it is advisable to maintain a high-kong strategy.
Bitcoin 95300-95800 kong, target 93500
Ethereum 1830-1850 kong, target 1750
We need to go with the trend, stay rational at all times, defend well, and absolutely don’t resist blindly!
Let’s motivate the brothers, look forward to the market trend, and wait patiently!
On May 8, at 2 a.m., the Federal Reserve will hold a meeting to determine that it will not cut interest rates, but Powell's statement on future interest rate trends is crucial. If he “doves” and hints at a June rate cut, it will stimulate the crypto market to rise; if he “hawks,” the crypto market may drop significantly.
Current data shows that the probability of a rate cut in June is slightly higher than not cutting rates, and this Wednesday's PCE inflation data is likely to decrease. Overall, Powell “doving” at the May meeting is likely to pave the way for a June rate cut, which is favorable for the crypto market.
