Bitcoin News

BTC News Today: Fed Rate Outlook, Trump Support Ignored

Key Points:

  • Bitcoin BTC Fed Rate Outlook declined by 1.22% on Sunday (May 26), ending the session at $68,443.
  • Fading investor bets on a September Fed interest rate cut overshadowed Trump and his support for cryptos.
  • On Monday (May 27), US BTC-spot ETF market chatter and ETH-spot ETF-related updates need investor consideration.

BTC Retreats as Fed Rate Cut Bets Falter

The bitcoin BTC Fed Rate Outlook value decreased 1.22% on Sunday, May 26. Bitcoin (BTC) finished the week with a gain of 3.31%, reaching $68,443, reversing an increase of 1.06% from Saturday (May 25). Buyer demand for Bitcoin and the cryptocurrency market was impacted by shrinking investor expectations of a rate decrease by the Federal Reserve in September. Market attitude regarding the Federal Reserve’s rate path was influenced by the FOMC Meeting Minutes, which were more hawkish than expected, and by the impressive PMI statistics for the US service sector.

CME FedWatch Tool showed that the chance of the Federal Reserve maintaining unchanged in September rose from 35.2% to 50.2% in the week ending May 24. Market flow figures for US-BTC Fed Rate Outlook spot ETFs illustrate the Fed rate path’s impact on Bitcoin demand. Net inflows fell on Wednesday and Thursday. Despite this, the Bitcoin spot ETF market recorded net inflows of $1,056.7 million for the week ending May 24. This suggests Bitcoin can retain its price.

On May 28, the United States will reveal its consumer confidence numbers. The May 31 release of the Personal Income and Outlays Report can potentially influence additional sentiments. The Fed’s course on interest rates. Unexpectedly strong consumer confidence, rising income and expenditure trends, and sustained inflation might derail bets on a September rate cut by the Federal Reserve.

Donald Trump, the front-runner for the Republican Party, expressed support for the cryptocurrency market. But market emotion over the Fed rate path overshadowed all of it. Ethereum (ETH), on the other hand, had a very different Sunday session, with a rise of 2.01% to finish the week at $3.826, or a gain of 24.59%. The progress toward a US ETH-spot ETF market drove the demand for ether among buyers.

Technical Analysis

Bitcoin Analysis

Bitcoin (BTC) sat above the 50-day and 200-day exponential moving averages to convey bullish price signals. A possible move to the $70,000 handle would be supported by a Bitcoin price that breaks above the $69,000 resistance level. A breakout from $70,000 would allow the bulls to make a run at the all-time high of $73,808. There is a need to consider US crypto-spot ETF-related news and SEC activities.

In contrast, if Bitcoin were to go below the 50-day exponential moving average, the $64,000 support level would become active. If the 14-day Relative Strength Index (RSI) reading is 57.83, Bitcoin (BTC) can reach an all-time high of $73,808 before entering the overbought region.

Ethereum Analysis

When Ethereum’s price rose above its exponential moving averages of 50 and 200 days, it confirmed the bullish price patterns. A break clear of the $3,835 resistance level for Ethereum could allow bulls to make a push at the $4,000 handle. A break above the $4,000 handle would support a move to the high of $4,091 reached in March. Please take into consideration the discussion on the US ETH-spot ETF market.

On the other hand, if Ethereum were to fall below. The $3,650 handle would allow the bears to attack the $3,480 support level. Ethereum is trading in overbought territory, as indicated by the 14-period Daily RSI reading of 70.57. At the $3,835 resistance level, there is a possibility that selling pressure will increase.

Ali Raza

Ali Raza is an experienced freelance content writer. His focus is primarily on aster-crypto and btccoinzone. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Ali Raza is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Ali Raza enjoys traveling, reading, and playing cricket when not writing. He now works as a news and article writer for Astercrypto.

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