Shortly
- Bitcoin's price sank as low as $91,800 but plateaued above $93,000.
- Beth Hammack, President of the Federal Reserve Bank of Cleveland, said "preemptive" rate cuts are a possibility.
- Over the last two days, spot Bitcoin ETFs attracted $1.8 Billion.
Price of Bitcoin The dollar dropped and then plateaued, while U.S. shares rose in response to rising hopes for rate cuts and Donald Trump’s most recent comments on trade.
Bitcoin traded at around $93,300 recently, remaining relatively flat from the previous day after dropping as low a $91,800 in mid-day. CoinGecko. Altcoins and Bitcoins have been mixed. Ethereum Falling 1.8% to $1.760 Solana The price of the stock rose 1%, to approximately $151.
Interview with CNBCBeth Hammack President of Federal Reserve Bank of Cleveland’s Squawk Box The following are some of the ways to get in touch with each other The central bank is “preemptive”, and will cut rates when they know how Trump’s tariffs, which are on-again-off-again in nature, impact the U.S. economic system.
On Wall Street, the S&P 500 rallied 2% while the tech-heavy Nasdaq surged 2.6%, according to Yahoo Finance. Bitcoin, however, has made gains since then. Both indexes remain below the opening prices of April 2 when Trump announced “reciprocal levies” on almost every country. Bitcoin has been relatively flat until recent times. A large number of factors are correlated The tech stocks are the major component of these indexes.
Consumer Price Index has recently been a gauge of inflation that is not feared by some economists. Come in Soft. Trump referred to the “trend so nicely downwards” of consumer prices when he pressed Fed chair Jerome Powell on Sunday for a rate cut, questioning whether or not the Fed is moving too slowly. Post by Truth Social Media is the platform that he uses.
The traders now expect a 45% probability that the central banks will make two rate reductions by the end of the policy meeting on July. This is up from 40% the day before. CME FedWatchThis measure measures the likelihood of Fed rate action. Trading expectations of the Fed holding rates at the same level fell to just 9%, from 12 % a few days ago.
While Bitcoin’s price has fallen slightly, the spot Bitcoin ETFs attracted $1.8 Billion over the last two day, according to cryptocurrency data provider CoinGlass. This is the largest two-day number since January 3-4.
In a note published on Wednesday, Valentin Fournier (lead research analyst for research firm BRN) wrote that the disconnect between ETF inflows of massive amounts and stagnant prices suggests institutional purchases are now offset by profits-taking and declining consumer activity.
Trump appeared to poke China on Truth Social as the White House seeks to make a deal. In a Post by He urged Boeing on Truth Social to default China because it had not taken the planes, which were beautifully made and that China agreed to buy.
James Rubin, Editor
