Bitcoin
Bitcoin (BTC) News Today: Fed Rate Outlook Weighs on BTC, Trump Support Ignored
According to CME FedWatch Toolthe probability of the Fed holding steady in September increased from 35.2% to 50.2% in the week ending May 24.
US BTC spot ETF market flow data reflected in Fed rate path effects on BTC demand. Net inflows show a downward trend on Wednesday and Thursday. However, the BTC spot ETF market recorded total net inflows of $1,056.7 million in the week ending May 24, supporting BTC at current price levels.
US consumer confidence numbers (May 28) and the US Personal Income and Expenses Report (May 31) could further influence sentiment regarding the Fed’s rate path. An unexpected rebound in consumer confidence , rising trends in personal income/spending and persistent inflation could sink bets on a Fed rate cut in September.
Market Sentiment Regarding Fed Rate Path Overshadowed Republican Party Leader Donald Trump support for the crypto market.
However, ethereal (ETH) had a contrasting Sunday session, gaining 2.01% to end the week up 24.59% to $3.826. Progress towards an ETH spot ETF market in the US has boosted buyer demand for ETH.
Technical analysis
Bitcoin Analysis
Bitcoin sat above 50 days and 200 days EMAsending signals of rising prices.