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Bitcoin traders are predicting flash BTC price moves despite almost unanimous market predictions as to what the Fed will do next.
The movement is the latest in a trend of early buyers and holders moving their tokens to new wallets after several years of inactivity.
The market is waiting for the Fed’s next move, or clarity around an ETF, say analysts
DOGE jumped 10% on Tuesday, its biggest single-day percentage gain since April 3.
Even with a price correction to $29,000, several Bitcoin price metrics show traders casting bets on a quick rebound.
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting the Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
- 20:17BTC falls below $97,000, down 0.35% intradayPANews May 3rd news, the market shows that BTC has just fallen below $97,000, currently reported at $96,989.10 per coin, down 0.35% for the day.
- 20:17"Fed's Mouthpiece": Nonfarm Payrolls Reduce the Likelihood of a June Rate CutBlockBeats news, on May 2, "Fed's mouthpiece" Nick Timiraos stated that the April employment report makes the possibility of a rate cut in June less likely (although June is still far away), as there will only be one more employment report before then. For now, this means the Federal Reserve does not need to make any statements about the June meeting next week. (Jin10)
- 20:17Institutions: Non-farm data will keep the Federal Reserve "on the sidelines"BlockBeats reports that on May 2, Gregory Faranello, Head of U.S. Rates Trading and Strategy at AmeriVet Securities, stated that due to the impact of tariffs and tax policies, there will be significant issues in the future job market. As for the Federal Reserve's future policy path, given that employment remains a key driver of economic growth, the Fed is currently "standing by." Previously, Lindsay Rosner, Head of Multi-Sector Fixed Income Investments at Goldman Sachs Asset Management, stated that at this time and place, robust labor market data provides the Federal Reserve with room for patience. (Jin10)