$BTC All attention is currently focused on the upcoming FOMC meeting scheduled for May 7. While investors hope for an interest rate cut, the current CME FedWatch data only shows a 2.7% probability of a 25bps rate reduction.

This means that the Federal Reserve is likely to keep interest rates steady, or at least delay any easing of monetary policy. With inflation still persistent and the labor market resilient, the Fed seems unwilling to ease too early.