Crypto daily summary

Powell has expressed moderate confidence about possible rate cuts this year. 9 Bitcoin ETFs reduced their Bitcoin holdings by 1,950 BTC yesterday. Tether increased its Bitcoin holdings by 8,900 BTC this quarter.

According to the latest data obtained from CME's "Fed Watch" report, the probability that the Fed will keep possible interest rates constant in June is 90.9%, and the probability of a 25 basis point interest rate cut is at 9.1%. As for the long-term outlook, there's a chance the Fed will keep current interest rates at 72.1% through August; the probability of a cumulative 25 basis point cut is 26%, and the probability of a more aggressive cut of 50 basis points overall is 1.9%.