The recent cryptocurrency market is basically still following the U.S. stock market, but since there was no trading over the weekend, everyone is taking a break. There are no explosive news in the market right now, and May is likely to pass in a lukewarm manner. The market makers have been trying hard to push up the coin prices, and now they are definitely keeping a close watch to prevent retail investors from easily picking up bargains.
It's quite interesting to look back at historical data. The situation where the Federal Reserve cut interest rates three times in 2024 is particularly valuable for reference: the first cut on September 18 by 50 basis points saw Bitcoin jump from $54,000 on September 7 to $66,000; the second cut on November 7 by 25 basis points resulted in Bitcoin soaring from $67,000 on November 4 to $93,000; the third cut on December 18 by another 25 basis points broke the $100,000 mark.
So at this critical juncture, if there is a slight pullback in May, it is absolutely essential to seize the opportunity to get in. Here comes the key point - the quarterly CPI data will be released tomorrow at 8:30 PM, and this will directly determine the Federal Reserve's pace of interest rate cuts. If the data looks good, the entire market might get excited right away, and we will just have to wait and see if this wave can reach new highs!
