— Bitcoin: around $77,135;
— Ethereum: around $2,120;
— market cap: $2.58T;
— Bitcoin dominance: 60%;
— Bitcoin ETF outflows: $1.151B;
— Ethereum ETF outflows: $209.4M.

What pressured the market?

— hawkish Fed minutes;
— higher CPI and PPI data;
— possible rate hike expectations;
— Kelp DAO hack;
— Verus-Ethereum bridge attack;
— tokenized securities uncertainty.

Positive factor:

Main pressure came from the Federal Reserve. April meeting minutes confirmed a more hawkish stance, while inflation data strengthened expectations that rates may stay high through year-end.

Security concerns also hurt sentiment. Kelp DAO lost $293M in a major exploit, while the Verus-Ethereum bridge was also attacked. The decision to negotiate with attackers and allow a bounty may raise concerns about future exploit incentives.

Regulation remains mixed. Hester Peirce signaled that tokenized securities may need to offer the same rights as traditional shares, leaving many tokenized asset models uncertain.

The positive development came from Donald Trump’s executive order directing the Fed to evaluate crypto and fintech access to banking payment services. Broader banking access could improve liquidity and institutional confidence.

The main takeaway: crypto remains under pressure from macro conditions, ETF outflows, and security risks. However, regulatory support for banking access may provide a medium-term positive catalyst.

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