BlockBeats News, May 1st: Economic data released by the United States today showed a slowdown in economic growth and continued easing inflation pressure, leading to an increased market expectation of a Fed rate cut. The ADP non-farm payroll report showed a meager addition of 62,000 jobs, far below the expected 246,000, indicating a weak labor market. The core PCE year-on-year rate came in at 2.6%, slightly below the expected 2.9%; the monthly rate was 0.3%, indicating lingering inflation pressure. The first-quarter GDP contracted at an annualized rate of 0.3%, marking the first shrinkage since 2022, mainly due to businesses rushing to import goods ahead of new tariffs, resulting in a surge in imports.
Bitunix Analyst Suggestion: These data points have intensified market concerns about economic slowdown and persistent inflation, with investors anticipating the Fed to start cutting rates in June. BTC is currently consolidating within the 92K-96K range, while ETH is trading in the 1.7K-1.8K range. If the Fed does cut rates as expected, it could boost market sentiment and drive prices above these ranges. Investors should pay close attention to the Fed's policy direction to adjust their investment strategies accordingly.
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