$BTC Strength of Recovery as Focus Shifts to Fed Meeting Minutes
Bitcoin holds above support at $77,000 as market players await the release of the Fed meeting minutes from April.
Ethereum gains momentum as buyers step in at the $2,100 level, supported by stable futures open interest.
XRP rises above support at $1.35 amid increasing retail demand.
Bitcoin (BTC) maintains support at $77,000 following a recent drop from May's peak around $82,500. The broader cryptocurrency market, including altcoins like Ethereum (ETH) and Ripple (XRP), shows signs of a subtle recovery, with ETH stable above $2,100 and XRP bouncing off support at $1.35.
All Eyes on the Fed Minutes
The Federal Reserve (The Fed) will release the minutes from the Federal Open Market Committee (FOMC) meeting in April at 18:00 GMT on Wednesday (Thursday, 01:00 WIB). Although interest rates remain unchanged in the 3.50%-3.75% range, market players will watch for sentiment from hawkish committee members, especially after higher-than-expected US inflation data for April.
Another important takeaway from the minutes could be the Fed officials' stance on inflation and policy direction, particularly under the new Chair Kevin Warsh.
Market players are already pricing in a 96.7% probability that the Fed will maintain interest rates in the 3.50%-3.75% range at the next review cycle scheduled for June 17. Additionally, rising inflation and growing macroeconomic uncertainty due to the US-Iran conflict increase the chances of a rate hike by late 2026.
#TrumpOrdersFedCryptoPaymentRailsReview
Bitcoin holds above support at $77,000 as market players await the release of the Fed meeting minutes from April.
Ethereum gains momentum as buyers step in at the $2,100 level, supported by stable futures open interest.
XRP rises above support at $1.35 amid increasing retail demand.
Bitcoin (BTC) maintains support at $77,000 following a recent drop from May's peak around $82,500. The broader cryptocurrency market, including altcoins like Ethereum (ETH) and Ripple (XRP), shows signs of a subtle recovery, with ETH stable above $2,100 and XRP bouncing off support at $1.35.
All Eyes on the Fed Minutes
The Federal Reserve (The Fed) will release the minutes from the Federal Open Market Committee (FOMC) meeting in April at 18:00 GMT on Wednesday (Thursday, 01:00 WIB). Although interest rates remain unchanged in the 3.50%-3.75% range, market players will watch for sentiment from hawkish committee members, especially after higher-than-expected US inflation data for April.
Another important takeaway from the minutes could be the Fed officials' stance on inflation and policy direction, particularly under the new Chair Kevin Warsh.
Market players are already pricing in a 96.7% probability that the Fed will maintain interest rates in the 3.50%-3.75% range at the next review cycle scheduled for June 17. Additionally, rising inflation and growing macroeconomic uncertainty due to the US-Iran conflict increase the chances of a rate hike by late 2026.
#TrumpOrdersFedCryptoPaymentRailsReview