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Summary of the FOMC May 2025
the FED held interest rates at 4.25% - 4.50% causing bitcoin to drop momentarily before soaring to $98k resulting in altcoins also skyrocketing$BTC
the FED held interest rates at 4.25% - 4.50% causing bitcoin to drop momentarily before soaring to $98k resulting in altcoins also skyrocketing$BTC
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BITCOIN CORRECTED 4.3% IS A NEW RECORD IN 2025 STILL POSSIBLE?
$BTC
The price of Bitcoin (BTC) fell 4.3 percent in the last 3 days after nearly touching US$ 97,900 on May 2. Although it managed to hold around US$ 94,000 on May 5, many traders began to doubt as the upward momentum seemed to be weakening.
However, behind this decline, there are several positive signals indicating that the opportunity to reach a new price record in 2025 is still wide open.
According to cointelegraph.com, one important indicator is Bitcoin's dominance in the crypto market. Currently, Bitcoin controls 70 percent of the market share, the highest since January 2021. This occurs despite the emergence of many new tokens, such as SUI, TON, TAO, and others. This dominance indicates that investors have more confidence in Bitcoin compared to more risky crypto assets.
The price of Bitcoin (BTC) fell 4.3 percent in the last 3 days after nearly touching US$ 97,900 on May 2. Although it managed to hold around US$ 94,000 on May 5, many traders began to doubt as the upward momentum seemed to be weakening.
However, behind this decline, there are several positive signals indicating that the opportunity to reach a new price record in 2025 is still wide open.
According to cointelegraph.com, one important indicator is Bitcoin's dominance in the crypto market. Currently, Bitcoin controls 70 percent of the market share, the highest since January 2021. This occurs despite the emergence of many new tokens, such as SUI, TON, TAO, and others. This dominance indicates that investors have more confidence in Bitcoin compared to more risky crypto assets.
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#XAUUSD Technical Analysis Gold
The daily candlestick closed as a doji, which appears with a small real body and a longer upper tail than the lower tail, making it suitable to be categorized as an inverted hammer candle pattern. This indicates that a rebound opportunity is likely to begin soon after three consecutive days of decline last week. Additionally, the higher low compared to the previous day (3222 vs 3202) suggests that the decline can currently be considered finished.
In theory, an increase needs to validate the breakout of resistance that has formed over the last two consecutive days. This means that 3269.21 (high on Friday) and 3290 (high on Thursday) are the targets for the rise that must be achieved and broken through in order to open up a stronger upward path. Conversely, a decline must break through 3202 to make it depreciate again.
On the H4 chart, the Fibonacci Retracement (FR) drawn from the bottom 2969 (FR 100%) to the peak 3500 (FR 0%) shows that the FR 61.8% area is still holding, as the decline over the last two consecutive days on Thursday and Friday was held between FR 61.8% 3172 - FR 50% 3235 (the recorded lows were 3202 and 3222). In theory, this indicates that the decline is merely a downward correction or profit-taking. There is still no indication of an actual bearish reversal as there has been no breakout below FR 61.8% 3172.
The daily candlestick closed as a doji, which appears with a small real body and a longer upper tail than the lower tail, making it suitable to be categorized as an inverted hammer candle pattern. This indicates that a rebound opportunity is likely to begin soon after three consecutive days of decline last week. Additionally, the higher low compared to the previous day (3222 vs 3202) suggests that the decline can currently be considered finished.
In theory, an increase needs to validate the breakout of resistance that has formed over the last two consecutive days. This means that 3269.21 (high on Friday) and 3290 (high on Thursday) are the targets for the rise that must be achieved and broken through in order to open up a stronger upward path. Conversely, a decline must break through 3202 to make it depreciate again.
On the H4 chart, the Fibonacci Retracement (FR) drawn from the bottom 2969 (FR 100%) to the peak 3500 (FR 0%) shows that the FR 61.8% area is still holding, as the decline over the last two consecutive days on Thursday and Friday was held between FR 61.8% 3172 - FR 50% 3235 (the recorded lows were 3202 and 3222). In theory, this indicates that the decline is merely a downward correction or profit-taking. There is still no indication of an actual bearish reversal as there has been no breakout below FR 61.8% 3172.
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#TRUMP During a recent White House event, President Donald Trump made several important announcements. He revealed that Washington D.C. will host the NFL draft in 2027 and expressed his intention to help the film industry, which he believes is being 'destroyed' by other countries.
The President, who previously announced plans for tariffs on films made in foreign countries, stated that he plans to meet with representatives from the film industry. He also commented on the situation in Ukraine, stating that the U.S. is in a good position to help resolve the conflict there.
Trump also touched on the issue of self-deportation, explaining that incentives are being prepared as the courts have proven to be a hindrance. He suggested that if these individuals are diligent and have a love for the country, they may be given a pathway to return.
Additionally, the President discussed an upcoming meeting with the Prime Minister of Canada, stating that he believes the Prime Minister wants to make a trade deal. He also noted that China is very eager to make a trade deal, but emphasized that it must be fair.
"China wants to make a deal very badly. You see what is happening to China. China is being destroyed and I don't want that to happen. But they have to make a fair deal," said Trump.
Trump also announced his intention to help the people of Gaza obtain food, criticizing Hamas for making the situation difficult by taking everything that is brought in.
The President also made comments about a picture of himself dressed like the Pope, stating he had nothing to do with that. Additionally, he mentioned Nordstream, saying many people know who blew it up, but did not provide further details.
The President, who previously announced plans for tariffs on films made in foreign countries, stated that he plans to meet with representatives from the film industry. He also commented on the situation in Ukraine, stating that the U.S. is in a good position to help resolve the conflict there.
Trump also touched on the issue of self-deportation, explaining that incentives are being prepared as the courts have proven to be a hindrance. He suggested that if these individuals are diligent and have a love for the country, they may be given a pathway to return.
Additionally, the President discussed an upcoming meeting with the Prime Minister of Canada, stating that he believes the Prime Minister wants to make a trade deal. He also noted that China is very eager to make a trade deal, but emphasized that it must be fair.
"China wants to make a deal very badly. You see what is happening to China. China is being destroyed and I don't want that to happen. But they have to make a fair deal," said Trump.
Trump also announced his intention to help the people of Gaza obtain food, criticizing Hamas for making the situation difficult by taking everything that is brought in.
The President also made comments about a picture of himself dressed like the Pope, stating he had nothing to do with that. Additionally, he mentioned Nordstream, saying many people know who blew it up, but did not provide further details.
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#SaylorBTCPurchase KING MICHAEL SAYLOR PURCHASED AGAIN 1,895 AT A VALUE OF 180.3 MILLION
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#SaylorBTCPurchase $BTC Berkshire Hathaway is the 20th century version of bitcoin
-Michael Saylor
Visionary investments are always born from an understanding that transcends time. Once Berkshire, now bitcoin
-Michael Saylor
Visionary investments are always born from an understanding that transcends time. Once Berkshire, now bitcoin
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US withdraws as mediator in the conflict between Russia and Ukraine
WASHINGTON - The United States announced that it would no longer act as the main mediator in peace negotiations between Russia and Ukraine. This move came after Russian President Vladimir Putin rejected the full ceasefire proposal put forward by the US.
US State Department spokesperson Tammy Bruce stated that the US would continue to support peace efforts but would no longer be actively involved in direct negotiations. "We will not keep flying around the world just to mediate meetings. It is now time for both parties to draft and present concrete proposals to end this conflict," she said.
US State Department spokesperson Tammy Bruce stated that the US would continue to support peace efforts but would no longer be actively involved in direct negotiations. "We will not keep flying around the world just to mediate meetings. It is now time for both parties to draft and present concrete proposals to end this conflict," she said.
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Bitcoin price today rises to $97 thousand thanks to hopes for U.S.-China relations
Bitcoin rose on Friday, nearing the $100,000 level as risk appetite increased after China signaled that it was open to trade talks with the United States.
This largest cryptocurrency in the world is also supported by the announcement from major corporate holder Strategy (NASDAQ:MSTR) regarding a $21 billion equity offering, although the company also reported its fifth consecutive quarterly loss.
Broader cryptocurrency prices also experienced increases on Friday after China's comments, following a risk-driven market increase, particularly in stocks. However, the scope of the cryptocurrency rise is limited, as the strong rally throughout late April now appears to be starting to fade.
This largest cryptocurrency in the world is also supported by the announcement from major corporate holder Strategy (NASDAQ:MSTR) regarding a $21 billion equity offering, although the company also reported its fifth consecutive quarterly loss.
Broader cryptocurrency prices also experienced increases on Friday after China's comments, following a risk-driven market increase, particularly in stocks. However, the scope of the cryptocurrency rise is limited, as the strong rally throughout late April now appears to be starting to fade.
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#TRUMP Alcoa, the aluminum producer, reported on Thursday that its order book for the second quarter remains strong despite the US tariffs.
The company did not observe any decline in orders that could be attributed to these tariffs, according to CEO William Oplinger, who made the comments at a mining event in Melbourne.
Oplinger noted that despite uncertainty among their customers about the future, the company’s order book for the first and second quarters has been strong. However, he acknowledged that the company does not have clear insight into the situation beyond the first half of this year.
The company previously stated during last month's first-quarter earnings call that they anticipate US tariffs on aluminum imports from Canada will cost the company about $90 million in the second quarter.
In addition to the tariff-related challenges, Alcoa is also facing potential risks in Spain due to power outages that occurred this week. The company did not provide further details on the potential impact of this development on their business operations in Spain.
The company did not observe any decline in orders that could be attributed to these tariffs, according to CEO William Oplinger, who made the comments at a mining event in Melbourne.
Oplinger noted that despite uncertainty among their customers about the future, the company’s order book for the first and second quarters has been strong. However, he acknowledged that the company does not have clear insight into the situation beyond the first half of this year.
The company previously stated during last month's first-quarter earnings call that they anticipate US tariffs on aluminum imports from Canada will cost the company about $90 million in the second quarter.
In addition to the tariff-related challenges, Alcoa is also facing potential risks in Spain due to power outages that occurred this week. The company did not provide further details on the potential impact of this development on their business operations in Spain.
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On Tuesday, Kia America announced record-breaking sales performance for the month of April, with a total of 74,805 vehicles sold.
This achievement marks an important milestone for the automaker, as it is the highest number of units sold in the month of April in the company's history.
This achievement marks an important milestone for the automaker, as it is the highest number of units sold in the month of April in the company's history.
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#BinanceAlphaAlert Crude oil futures were lower during the Asian session on Thursday.
At the New York Mercantile Exchange, crude oil futures for June delivery were trading at USD58.17 per barrel at the time of writing, down 0.07%.
The instrument previously traded at a session low of USD per barrel. Crude oil is likely to find support at USD57.91 and resistance at USD63.92.
The US Dollar Index Futures, which tracks the performance of the greenback against a basket of six major currencies, rose 0.39% and was trading at USD99.65.
Meanwhile, at ICE, Brent oil for July delivery fell 0.02% and was trading at USD61.07 per barrel, while the spread between Brent oil and crude oil was at USD2.90 per barrel.
At the New York Mercantile Exchange, crude oil futures for June delivery were trading at USD58.17 per barrel at the time of writing, down 0.07%.
The instrument previously traded at a session low of USD per barrel. Crude oil is likely to find support at USD57.91 and resistance at USD63.92.
The US Dollar Index Futures, which tracks the performance of the greenback against a basket of six major currencies, rose 0.39% and was trading at USD99.65.
Meanwhile, at ICE, Brent oil for July delivery fell 0.02% and was trading at USD61.07 per barrel, while the spread between Brent oil and crude oil was at USD2.90 per barrel.
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Apple violated antitrust ruling regarding app store practices, U.S. judge finds
A U.S. federal judge ruled that Apple Inc (NASDAQ:AAPL) violated a 2021 court order aimed at increasing competition in the App Store, potentially putting the tech giant at risk of facing criminal contempt proceedings.
U.S. District Judge Yvonne Gonzalez Rogers determined that Apple’s 27% fee on external purchases and the warning about third-party payment methods obstructed the court's directive to allow developers to inform users about alternative payment options.
U.S. District Judge Yvonne Gonzalez Rogers determined that Apple’s 27% fee on external purchases and the warning about third-party payment methods obstructed the court's directive to allow developers to inform users about alternative payment options.
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ASIAN CURRENCIES: The Japanese yen weakens after BOJ warns of growth
#yen Most Asian currencies moved lower in thin trading due to the holiday on Thursday, while the dollar marginally recovered from significant losses throughout April, and the Japanese yen weakened after the Bank of Japan maintained interest rates unchanged but lowered growth forecasts.
The Australian dollar strengthened after a stronger than expected trade balance for March, although analysts doubt that this trade performance will continue, especially in the face of high US tariffs.
The Australian dollar strengthened after a stronger than expected trade balance for March, although analysts doubt that this trade performance will continue, especially in the face of high US tariffs.
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#china #trumph IDNFinancials.com - JAKARTA – Italian tire manufacturer, Pirelli, is set to approve a restructuring of its shareholding on Monday (April 28) today.
Italian local newspapers report that the change will end the control of Sinochem, the state-owned enterprise from China, within Pirelli.
The plan is a result of internal debates among Pirelli shareholders from China and Italy. The presence of Sinochem among the shareholders is said to hinder Pirelli's expansion into the United States (US) market.
Reports from the newspaper Il Messaggero indicate that Sinochem will still control 37% of Pirelli's shares. However, it will no longer be referred to as the controlling entity for regulatory reasons.
Both Pirelli and Sinochem have not yet agreed to comment when confirmed by Reuters on Saturday (April 26) yesterday.
Earlier this week, Pirelli Management will hold a meeting for the financial report of the fiscal year 2024. This meeting was scheduled for late March but was postponed for a month due to tensions between investors from China and Italy. (KR)
Italian local newspapers report that the change will end the control of Sinochem, the state-owned enterprise from China, within Pirelli.
The plan is a result of internal debates among Pirelli shareholders from China and Italy. The presence of Sinochem among the shareholders is said to hinder Pirelli's expansion into the United States (US) market.
Reports from the newspaper Il Messaggero indicate that Sinochem will still control 37% of Pirelli's shares. However, it will no longer be referred to as the controlling entity for regulatory reasons.
Both Pirelli and Sinochem have not yet agreed to comment when confirmed by Reuters on Saturday (April 26) yesterday.
Earlier this week, Pirelli Management will hold a meeting for the financial report of the fiscal year 2024. This meeting was scheduled for late March but was postponed for a month due to tensions between investors from China and Italy. (KR)
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What happens if China stops importing U.S. Ethane?
The halt of U.S. ethane imports by China, triggered by reciprocal tariffs, could lead to a sharp decline in ethane prices and burden Permian gas infrastructure, said Bank of America analysts while exploring the potential impact.
China is the largest ethane importer in the world, but current tariffs make U.S. ethane uneconomical compared to naphtha.
BofA said this issue could be resolved if U.S. President Donald Trump eases tensions or if China provides an exemption, but neither has occurred yet.
China is the largest ethane importer in the world, but current tariffs make U.S. ethane uneconomical compared to naphtha.
BofA said this issue could be resolved if U.S. President Donald Trump eases tensions or if China provides an exemption, but neither has occurred yet.
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How Huawei's new AI chips could impact Nvidia?
The emergence of new advanced artificial intelligence chips from Huawei could threaten US semiconductor giant Nvidia (NASDAQ:NVDA) in the short term, according to analysts at Piper Sandler.
Huawei plans to begin mass shipments of the AI processor 910C to Chinese customers as soon as next month, Reuters reported earlier this week. The 910C is more of an architecture evolution than a technological advancement and offers performance comparable to Nvidia's H100 products, Reuters said.
Citing sources familiar with the matter, the news agency reported that some shipments of the 910C - known as Ascend - may have already taken place.
Huawei plans to begin mass shipments of the AI processor 910C to Chinese customers as soon as next month, Reuters reported earlier this week. The 910C is more of an architecture evolution than a technological advancement and offers performance comparable to Nvidia's H100 products, Reuters said.
Citing sources familiar with the matter, the news agency reported that some shipments of the 910C - known as Ascend - may have already taken place.
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#dinnerwithtrump $TRUMP GILA! Demi dinner with Donald Trump, a whale just swapped $318,000 from Fartcoin to $TRUMP ! All this to increase the chances of getting an exclusive Trump Dinner invitation! FYI, $TRUMP token is really HOT right now, especially after the fundraising campaign.
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