$BTC Will the "Hawkish Massacre" be online tonight?
Tonight, Powell will speak after the release of the US April retail sales and the US Producer Price Index! I believe everyone has noticed that Bitcoin has been struggling to rebound after breaking new highs and then pulling back, while gold prices have fallen for two consecutive days!
Tonight's data will greatly influence the market's expectations for a Federal Reserve rate cut!
If the data is not ideal combined with Powell's hawkish remarks, it could lead to market panic. If Bitcoin falls below support, it may drop back to the 9xxx range!
So everyone should be cautious! After all, "every meeting must drop," and tomorrow is Friday again!
