Happy Wednesday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
- US CPI inflation rose to 3.8% in April, highest since May 2023 and now above the Fed Funds Rate. Inflation has remained above the Fed's 2% target for 62 consecutive months.
- Pro-Bitcoin Kevin Warsh officially confirmed as a Federal Reserve Governor.
- US Senate Banking Committee released a draft for the Bitcoin and crypto market structure bill, set for markup this Thursday. Senate Minority Leader Chuck Schumer indicated Democrats want to see a good crypto bill pass.
- BTC forecasted as high as $98,000 this year per Kalshi traders. Odds of crossing $100k again before October rose to 40%.
- Odds of next Fed rate hike before July 2027 rose to 61% per Kalshi traders. US appeals court paused ruling against President Trump's 10% global tariffs.
- ETF clients bought millions more in XRP, with total ETF-held net assets reaching around $1.44-1.48 billion.
- President Trump’s proposed "Golden Dome" now estimated at $1.2 trillion. Trump stated the stock market will go "through the roof" and inflation will drop once the Iran situation resolves.
- Big Short investor Michael Burry warned the stock market is "minutes" away from a "bloody" crash.
- President Trump is traveling to China aboard Air Force One with Elon Musk and other top U.S. executives, including Nvidia CEO Jensen Huang
📊 Altcoin Market Updates 📊
- JPMorgan to launch tokenized money-market fund on Ethereum.
- Solana co-founder Toly commented on token differentiators for exchanges, lighter models as CEX equivalents, and highlighted cheaper perps on Solana vs. competitors. Solana secured the @perps handle.
- Telegram CEO Durov emphasized TON as one of the most decentralized networks, with Telegram becoming a major validator.
- Vitalik Buterin sent another 64 ETH to the Animal Welfare Fund.
If you enjoyed this daily roundup, make sure to follow me – I'll see you tomorrow.
$BTC $ETH $SPY $QQQ $OIL
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Written by Timothy Assi, an Elite Popular Investor on eToro.
Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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