Recently, the market is focused on several major events that directly determine whether the cryptocurrency sector will take off or crash.
First, on April 30, the United States will release core PCE data (inflation indicator) to see how aggressively prices are rising. Then, on May 1, the Bank of Japan will hold an interest rate decision, which, although it has less impact on the cryptocurrency sector, will cause fluctuations in capital flow. On May 2, the U.S. non-farm payroll data will be released; if employment is too strong, the Federal Reserve will be even more hesitant to cut interest rates.
Then, on May 8, the Federal Reserve will make its own decision on interest rates. What the market fears most is if they stubbornly say they won't cut rates, then Bitcoin could crash hard. But if they suddenly hint at a rate cut, the market could explode, and a Bitcoin price surge to $120,000 wouldn't be a dream.
Finally, on May 12, the U.S. CPI data will come in to add more pressure; if inflation remains unmanageable, the market will shake again.
In short, the next two weeks are full of bombs; any piece of news could cause the market to surge or plummet.
Rate cut = bull market frenzy, stubbornly holding rates = possible bloodbath. It all depends on whether the Federal Reserve dares to release liquidity!
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