The data released by the United States on Friday showed that the core PCE price index in March was 2.8% year-on-year, higher than the expected value of 2.70% and the same as the previous value of 2.80%; the overall PCE price index in March was 2.7% year-on-year, higher than the expected value of 2.60% and higher than the previous value of 2.50%; the core PCE price index in March was 0.3% month-on-month, in line with the expected value of 0.30% and the same as the previous value of 0.30%. In January and February, U.S. inflation stagnated, and did not re-accelerate in March, which relieved the market.

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The U.S. Securities and Exchange Commission has delayed its decision to approve the listing and trading of spot BTC ETF options until May 29. The U.S. Securities and Exchange Commission (SEC) issued a Wells Notice to Consensys, accusing MetaMask of operating as an unlicensed broker. Consensys sued the U.S. Securities and Exchange Commission (SEC), saying it attempted to classify ETH as a security, seeking court confirmation that the SEC has no legal authority to regulate software built on ETH or the ETH blockchain. The U.S. Securities and Exchange Commission seeks public opinion on whether to require spot BTC ETF options to follow the same rules as stock options. Fintech giant Stripe announced its return to the cryptocurrency market to accept cryptocurrency payments. In 2018, the company abandoned support for cryptocurrency payments due to high BTC price volatility. More than 9% of the BTC supply (1.8 million BTC, or $121 billion) has been inactive for more than a decade, and about 1.5 million BTC may be lost forever. Miners sold only 1,300 BTC in the past month, the lowest number since they began selling in November. On April 24, the suspected Justin Sun address transferred 21,547 ETH from Bn again, and the current ETH holdings of this address have increased to 176,116 ETH. Venture capital firm Pantera Capital plans to raise $1 billion for its cryptocurrency fund Pantera Fund V, focusing on assets such as startup equity, early tokens and liquid tokens. James Butterfill, head of research at CoinShares, said that the fund manager survey report showed that in the first survey since the approval of the US spot BTC ETF, 41% of investors believed that growth prospects were the most attractive; the weight of digital assets in the portfolio rose from 1.3% to 3%, the highest weight since the survey began in 2021. Benchmark reported that if MicroStrategy chooses to adopt the new accounting standards, its earnings could increase by more than $3 billion, meeting the conditions for inclusion in the S&P 500 index, which would increase MicroStrategy's valuation because index funds would be forced to buy the stock.

Cointelegraph data shows that the crypto venture capital market has recovered, with 161 transactions completed in March, setting a record in the past 12 months, with a total investment of more than $1 billion, an increase of 52% from the previous month. Data on Friday showed that the annual rate of the core PCE price index in the United States in March was 2.8%, slightly higher than market expectations (2.7%), and remained unchanged for two consecutive months (2.8%); the monthly rate of the core PCE price index was 0.3%, in line with expectations and the same as the previous value. Inflation stagnated in January and February, and did not re-accelerate in March, which relieved the market and indicated that the Federal Reserve had made progress in inflation. This set of data will not increase the idea of ​​the Federal Reserve raising interest rates, nor will it shift the discussion to the issue of the Federal Reserve "maintaining higher interest rates for a long time", giving the market a little confidence. Interest rate futures contract traders expect the Federal Reserve to increase the possibility of its first interest rate cut in September. Combined with the growth earnings data released by large US technology companies, traders took an optimistic attitude. At the opening of the US stock market, the Nasdaq rose 2.2%, the S&P 500 rose 1.2%, and the Dow rose 0.55%. The BTC futures price of the traditional market CME is $64,499, ahead of the spot market. Bank of America data shows that as of Wednesday, bonds had an inflow of $4.4 billion, stocks had an inflow of $3.6 billion, cryptocurrencies had an outflow of $11 million, gold had an outflow of $600 million, and cash had an outflow of $5.8 billion. Risk assets such as U.S. stocks have flowed in, cash has flowed out at high interest rates, and U.S. bonds betting on rate cuts have flowed in. Overall, the market believes that rate cuts will come and is transitioning from hedging products to risky assets.

Citibank gave an optimistic forecast, believing that the Federal Reserve will cut interest rates in July, and a total of 100 basis points in 2024. Wells Fargo raised the end-of-year target of the S&P 500 index to 5,535 points, and it is currently 5,100 points. In the past year, since the bull market started, Bitcoin has experienced at least four large adjustments (about 20%), and each adjustment has resulted in an increase that has surpassed the previous high. It is currently undergoing the fifth adjustment. Every time it falls, some people think it is a bearish turn, and some people think it is a bullish turn. Rationally considering that it is "in the upcoming interest rate cut cycle and halving cycle", the bull will not disappear, it is just a basic problem of rising last month, falling this month, and rising next month (for example, this month's fall, Justin Sun's associated address is often seen to be increasing ETH holdings). Rationally considering that there is the anchor of the Federal Reserve's monetary easing cycle (commonly known as water release), the bull market is inevitable. The Fed itself hopes that inflation will fall and interest rates will be cut more than the market. As long as the data allows, the Fed will turn to enter a period of monetary easing, and the so-called risky assets, the US stock market and Bitcoin, will only expand more. (Inflation rebounded in January and February, and the March inflation data released on Friday began to stop rising and remain flat. Inflation is expected to continue to return to the downward channel) Have a good rest over the weekend. Happy May Day. The old man will take a rest next week. It has been too late recently. I will try to adjust my work and rest time. It can't be any later. Update on May 8. #BTC