BlockBeats News, May 8th
On May 8th, the Federal Reserve announced during the FOMC meeting that it unanimously decided to maintain the federal funds rate at 4.25%–4.50%, unchanged for the third consecutive time, and reiterated its commitment to continue reducing its balance sheet to support economic stability. Rate futures indicate that the probability of a rate cut in June has decreased to about 23.8%. On the same day, during the Asian trading session, BTC touched the $99,000 milestone for the first time in nearly three months. The price of Bitcoin once surged to $99,374, with a daily gain of nearly 2%. As investors digest the Fed's decision to hold rates steady and not adopt an overly hawkish stance, BTC saw a technical rebound after a short-term pullback.
Bitunix analyst suggestion: Risk assets received a short-term boost after the Fed stabilized, but uncertainty remains. BTC is currently leaning towards a wait-and-see approach. Watch for psychological pressure around the 100K level and support around 94K. Keep an eye on next week's CPI and PPI data, as well as the progress of the US-China trade negotiations. Diversify into stablecoins or gold, hedge against macroeconomic and market volatility.
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