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- 【Gate Daily Market Digest】📊
Unlock today’s key crypto market insights at a glance!
Top Gainers⭐️ $SNAKEAI $YBDBD $BASEPTL $FPFT $TMAI
Trending Coins🔥 $YBDBD $LAUNCHCOIN $SPX $MIRAI $ANIME
#FearGreedIndex# #TopGainers#
- #May CPI Incoming#
This Wednesday, the U.S. will release May CPI data — a key test for rate cut expectations. Cleveland Fed forecasts 2.4% YoY CPI (up from 2.3%), with core CPI flat.
💬 If inflation beats expectations, will the Fed still cut in June? Will you stay on the sidelines or take early action?
#Tech Giants Eye Stablecoins#
Apple, Google, Airbnb, and X are in talks to integrate stablecoins into their payment systems, aiming to cut fees and streamline global payments. Following Circle’s IPO surge, stablecoins are quickly gaining traction across tech and finance.
💬 Could stablecoins be - Trading Myth vs Reality: Rising Wedge
❌ Myth
"A rising wedge is a bullish signal; buy immediately once the pattern completes."
✅ Reality
Proper rising wedge trading requires confirmation:
1.A clear break below the lower line (2 confirmed closes)
2.Volume increase on the break
3.A pullback that doesn't break above the lower line
💡 How to trade correctly:
· Wait for the pullback after the break
· Set stop-loss above the upper line
· If price breaks above upper line, volume must confirm or it's a false breakout
- What are Gate Post Ambassadors? One article guides you through the responsibilities and benefits of being a Gate Post ambassador!👇️
Altcoins are under selling pressure, and there is market interest in the Bitcoin conference featuring U.S. Vice President Vance's speech.
In the cryptocurrency market, Bitcoin (BTC) is at 1BTC = 108,339 dollars, down 0.93% compared to the previous day.
Altcoins have paused their rise and are temporarily dominated by profit-taking sales.
Amid the turmoil in the global economy lately, Bitcoin has been trading in a high range. Market analysts have analyzed that this rise is supported by steady inflows of funds from institutional investors, rather than speculative moves by individual investors.
The recent rise in Bitcoin is believed to be due to concerns about the global debt issue.
Wall Street and Japanese bond yields are rising, and investors are starting to question the future of traditional safe assets. The stock market is declining, with the U.S. 30-year bond yield rising to 5.15% and the Japanese 30-year bond yield at 3.1%. As a result, interest rates are increasing, and people are concerned about the government's long-term debt repayment ability.
As trust in government bonds by institutional investors declines, investments in gold and Bitcoin are increasing. In light of the current economic situation, there is a growing demand for assets that are not influenced by the fiscal policies of specific countries, and for this reason, Bitcoin has gained popularity as a choice for reserve assets.
On the other hand, Mr. Ali Charts suggests that many leveraged positions have accumulated in the range of $107,000 to $110,000, and he points out that if Bitcoin drops to $106,268, there is a possibility of $23.47 million in long positions being liquidated.
Institutional Investor Trends
The assets under management for the Bitcoin spot ETF have reached $104 billion, setting a new record. Matrixport pointed out that "Bitcoin is rising without FOMO (fear of missing out)," emphasizing that the price formation is based on actual demand rather than a speculative bubble.
Institutional investors seem to be allocating more capital to digital assets against the backdrop of macroeconomic concerns such as rising yields and currency risks.
Jamie Dimon, CEO of JPMorgan Chase, announced during the annual investor conference on the 19th that the bank will allow customers to purchase Bitcoin. This marks a notable shift in policy for the largest bank in the U.S., which has previously shown strong skepticism towards Bitcoin.
Mr. Daimon explained, "We allow customers to purchase Bitcoin, but we do not provide custody. We simply record it in the customers' transaction details." The company is considering providing access to Bitcoin ETFs without offering custody services or official recommendations for crypto assets.
Demand for diversified investment rises due to economic uncertainty in the United States.
According to the weekly report from the asset management company CoinShares, the inflow of funds into exchange-traded products (ETP) reached $3.3 billion last week, marking the highest weekly inflow amount on record.
In terms of coins, Bitcoin (BTC) accounted for the majority with an inflow of $2.9 billion, which corresponds to one-fourth of the total inflow amount for 2024. Some investors viewed the recent price increase as an opportunity to take profits, resulting in an inflow of $12.7 million into Bitcoin short products, marking the highest weekly inflow since last December.
$326 million flowed into Ethereum (ETH) products, while $4.3 million flowed into Solana (SOL) products. On the other hand, $37.2 million flowed out of XRP products, breaking the "incredible" 80-week consecutive inflow record.
CoinShares analyzes the background of the rapid influx, stating that "concerns about the U.S. economy have increased due to Moody's downgrade and the resulting sharp rise in government bond yields, leading investors to seek diversified investments through digital assets."
As concerns about traditional financial assets grow, institutional investors are increasingly utilizing cryptocurrency as a diversified investment option in their portfolios. At the same time, the increase in investment in short products indicates that market participants are adopting investment strategies that capture price fluctuations from both directions.
Bitcoin (BTC) news and price
BTC Exchange Comparison | Fees, Spreads, Accumulation, Lending Coin
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This week's noteworthy events
In addition to the fate of the Bitcoin reserve bill in Texas, market attention is focused on "Bitcoin 2025," which will be held in Las Vegas, USA, from May 27 to 29. More than 30,000 participants are expected, and for the first time as the sitting Vice President of the United States, J.D. Vance will speak at the cryptocurrency conference.
Vice President Vance is scheduled to take the main stage on the 28th, demonstrating his stance in support of "innovation, financial sovereignty, and a stronger future for America." According to federal financial disclosure documents from August 2023, Vance's personal Bitcoin holdings amount to as much as $500,000, indicating the depth of his understanding and interest in cryptocurrencies.
Other speakers include David Sachs, the cryptocurrency and AI special envoy for President Trump, Bo Hines, the Secretary of the Digital Asset Advisory Committee, Eric Trump, the son of President Trump, and Senator Cynthia Lummis.
The organizers established a new policy track called "Code + Country" to emphasize that Bitcoin has emerged as a political division issue. It is expected to be an opportunity to comprehensively examine how cryptocurrencies impact national monetary policy, regulatory frameworks, and economic security, going beyond mere technical discussions.
You can find the list of market reports published in the past here.