Bitcoin spent the day in the range of 61818-66666
Market capitalization 2.33 trillion, dominance index 55.90%, fear index 70
Stock markets were rising yesterday. The S&P 500 reached new highs, closing at 5305. The dollar index fell to 104. The 10-year bond yield was 4.31% (the lowest since early April).
The reason for the positivity is the CPI, which showed a decline for the first time since January 2024. But it is interesting that these data did not affect the likelihood of a Fed rate cut - markets still expect a reduction no earlier than September.
It is important for markets what data on the labor market and industrial production will be released today (15-30-16-15 Moscow time).
If these data show a cooling of the economy and labor market, the growth of indices may continue.
Typically, a period of tight monetary policy from the Fed always led to a fall in stock indices. According to economic theory, this is how it should be - money becomes less accessible, economic activity falls, and as a result, stock indices decline.
But this is in theory. But in practice, after the cycle of rate increases from March 2022 with the subsequent retention of high rates, the markets renewed their highs several times.
The reason is that so much money was generated in the previous period that raising the Fed rate has an increasingly less restrictive effect. And now the growth of markets has resumed after the Fed meeting on May 1 announced the inclusion of a money generation mode.
In the short term this is good for the markets. But for those who keep their assets in dollars, the situation is extremely sad
Now Asian indices and S&P 500 futures are growing.
Bitcoin yesterday confidently consolidated first above 63500, and then overcame the resistance area at 65000-65500, reaching highs since the end of April. Please note that we have again rebounded from the capitalization level of 2 trillion, the importance of which has been discussed many times.
Market capitalization has grown by 130 billion, but mainly due to Bitcoin, alts are significantly behind it. Even Ether barely got above 3K, and remains there very uncertainly. SOL, FTM, AKT, GRT, JUP, STX rose well from the TOP
BTC-ETF has strong volume growth. At the same time, IBIT grew yesterday by a record 7.4%
For further growth, Bitcoin needs to overcome the resistance area 66800-67200
The priority option for today is Bitcoin in a range with a lower limit at 63500-63600 and an upper limit at 66800-67200
Alternative - consolidation above 67200
Notcoin listing today