🪙🐋 BTC price seeks $155K 'trigger' — 5 Things to know in Bitcoin this week
🇺🇲 US long-term Treasury yields jumped above 5% amid fiscal concerns while Bitcoin reached new records. Key Fed communications and earnings from Nvidia dominate this week.
The Federal Reserve’s “preferred” inflation gauge highlights the week’s US macroeconomic data prints amid the threat of rising interest rates.
The Personal Consumption Expenditures (PCE) Index print for April is due on May 29, along with initial jobless claims.
These will follow the first revision of Q1 GDP, while in the background, rising bond yields are causing concern. Last week’s threat of 50% trade tariffs on the EU from President Donald Trump appeared to worsen the situation.
“It’s like clockwork: President Trump delays 50% EU tariffs until July 9th. Then, the 10Y Note Yield instantly rises back above 4.55%,” trading resource The Kobeissi Letter wrote in an X thread on the topic.
✳️ Hyperliquid’s Wynn heads to memecoins
Up or down, Bitcoin is currently a prime target for large-volume traders entering sizable speculative positions.
As Cointelegraph continues to report, one entity in particular, Hyperliquid’s James Wynn, has flipped from long to short and back again within a few days.
While just one “whale” trader out of many, Wynn’s moves have gained considerable attention, and with it sway over sentiment.
An initial $125 billion long position was exited at a loss thanks to the latest US tariff headlines, with Wynn then entering a short. This, however, lasted a matter of hours before he returned with another 40X leveraged long.
