Macro:

1. The PPI in the United States rose 2.2% year-on-year in April, a 12-month high, and rose 0.5% month-on-month, higher than expected. The market lowered its expectations for interest rate cuts.

2. Fed Chairman Powell: There was a lack of progress in inflation in the first quarter. The Fed needs to be patient and wait for more evidence of cooling inflation.

3. The market expects the probability of interest rate cuts in June and September to stabilize at around 50%, which is basically the same as before Powell's speech

Market:

Bitcoin is not much different from yesterday, waiting to get out of the range channel, and ETH is relatively weak.

Benefiting from the explosion of GME in the US stock market, the same-named MEME in the currency circle rose (same-name logic? Or PVP game?)