#USStablecoinBill

As of May 6, 2025, the cryptocurrency market is experiencing a modest pullback amid investor caution ahead of key U.S. economic data releases and the Federal Open Market Committee (FOMC) meeting. Bitcoin (BTC) is trading around $94,027, down approximately 1.7% in the past 24 hours, while Ethereum (ETH) has dipped to $1,805, reflecting a similar decline. Altcoins are also showing mixed performance; XRP has dropped 2%, and meme coins like FLOKI have declined by 6%, whereas WAL has surged 9%.

Despite the short-term volatility, institutional interest remains strong, with Bitcoin spot ETFs attracting $1.81 billion in net inflows last week. Additionally, VanEck's filing for a spot BNB ETF indicates growing confidence in the crypto sector. Investors are advised to monitor upcoming economic indicators, including the S&P Global Services PMI and ISM Non-Manufacturing PMI, which could influence market sentiment.