Breaking! The crypto market is about to experience a major upheaval in May! 5 key moments you can't miss!
1. Explosive news on Bitcoin reserves is about to be released!
The Trump administration issued an order in March requiring agencies to report their Bitcoin reserves, with May 5 being the deadline for the Treasury Secretary to submit the report. If the report is approved, the U.S. could start accumulating Bitcoin like El Salvador, significantly tightening market supply and driving Bitcoin prices to soar! Bitcoin has risen 26% in the past 30 days.
2. Federal Reserve decision: Can Powell's words sway the market?
The Federal Reserve will announce its interest rate decision on May 7, with the market expecting rates to remain unchanged, but Powell's press conference may reveal signals for a rate cut. Any strong statements from Powell regarding inflation or tariffs could trigger significant volatility in the crypto market.
3. Initial jobless claims: How will the labor market affect market sentiment?
On May 8, initial jobless claims in the U.S. are projected to drop to 231,000. If jobless claims rise, it may indicate a weak labor market, which could put pressure on the dollar, benefiting risk assets, including cryptocurrencies.
4. Ethereum Pectra upgrade: Will it lead to a market explosion?
Ethereum's Pectra upgrade is set to go live on May 7. Although delayed for months due to issues in the test network, its increased staking volume and reduced Gas fees may attract a large influx of ETH. However, historically, significant upgrades to Ethereum have not consistently driven prices higher, so investors need to closely monitor market reactions.
5. Market trends from crypto summits: Key news could trigger price fluctuations
In May, major events such as the Vienna Sonic Summit, Toronto Consensus Summit, and London Avalanche Summit will attract global attention in the crypto space. Especially the Consensus Summit, which is expected to have 20,000 participants and release significant news, often leading to market volatility.
Summary: Pay attention to these moments; the market is changing rapidly!
The Bitcoin reserve news in May, Federal Reserve decisions, unemployment benefit data, Ethereum upgrades, and crypto summits could all trigger intense market fluctuations. With Bitcoin surpassing $97,000, whether it can break through $100,000 next will be the focus for investors. Stay alert and seize every opportunity in the crypto market!
