First Market | BTC continues to fight back, standing above the 98,000 USD mark, Mikami goes online with a big dump of 85%

Daily Summary: The Federal Reserve keeps interest rates unchanged for the third time, analysis suggests there are many favorable factors for Bitcoin this summer.

According to data from Farside Investors, a total of $105 million flowed into U.S. Bitcoin spot ETFs yesterday. Among them, ARK's ARKB saw inflows of $54.7 million, and Fidelity's FBTC had net inflows of $39.9 million. The inflow and outflow data for ETH ETFs yesterday was almost negligible.

The Federal Reserve maintained interest rates for the third time.

Recently, the Federal Reserve maintained interest rates for the third time, keeping the target range for the benchmark interest rate at 4.25%-4.50%, which aligns with market expectations. In light of the increasingly uncertain economic outlook caused by tariff policies, it has adopted a cautious stance. Although the Federal Reserve believes that the overall economy is still "robustly expanding," the FOMC rarely warned in its post-meeting statement that the risks of high inflation and high unemployment are rising simultaneously, making the economic outlook even more ambiguous.

Analysis: This summer, Bitcoin has many favorable catalysts.

According to K33 Research, the crypto market in the summer of 2025 may be different from previous years, mainly influenced by a number of policies promoted by former US President Donald Trump. Trump has previously signed an executive order establishing a strategic bitcoin reserve and a digital asset reserve aimed at positioning the United States as a global leader in cryptocurrency. The strategic reserve, which consists mainly of bitcoins confiscated by the Ministry of Finance, is not expected to be sold, but will be held for the long term as a national reserve asset. Although the initial market reaction was muted, with the price of Bitcoin remaining between $77,000 and $87,000 for most of April, analysts believe that this policy may promote the participation of institutional investors in the long term, creating a "flywheel effect" to accelerate the growth of the industry, and recommend investors to wait and see in May and wait for the policy effect to gradually appear, rather than the "sell and leave in May" strategy inherited from the traditional market.

Viewpoint: The Federal Reserve will lower interest rates before July.

On May 8th, the Federal Reserve kept the benchmark interest rate unchanged at 4.25%-4.50%, in line with market expectations, marking the third consecutive meeting of inaction. Following the announcement of the Federal Reserve's interest rate decision, traders continued to believe that the Fed would cut rates before July, still anticipating three rate cuts this year.

Market Analysis: BTC fluctuates upward, breaking through $98,000

Market Hotspots

Yua Mikami's personal Meme $Mikami was launched 5 hours ago and token distribution was conducted for presale users. The acquisition cost of tokens for presale users was $0.245, and the price plummeted by 85% upon launch. Meme coins are greatly affected by emotional manipulation; although they quickly gained popularity due to celebrity effect in the short term, they ultimately prove to be fleeting due to a lack of substantial value.

EOS rises over 10% in 24 hours. Previously, Vaulta (formerly EOS) announced that the EOS token will be swapped for $A on May 14, supporting a 1:1 wear-free exchange with no changes to the token economics.

Market Trend

BTC is fluctuating upward, breaking through 98,000 USD during the session. Market data shows that Bitcoin's market share (BTC.D) has continued to rise since March 26, currently reported at 65.4%, setting a new high in this bull market.

ETH followed the market, breaking through the $1,800 mark, but the ETF inflow and outflow data is almost negligible.

Altcoins are generally rising, with various sectors increasing under the influence of the market, although the upward momentum is generally weak.

Macro News: The Federal Reserve Stands Pat, Three Major Indices Strengthen

U.S. stocks rose across the board on Wednesday, as the Federal Reserve held steady and reports suggested that restrictions on chip stocks may be lifted. By the close, the Dow Jones Industrial Average was up 284.97 points, or 0.70%, to 41,113.97 points. The Nasdaq rose 0.27% to 17,738.16 points, and the S&P 500 index gained 0.43% to 5,631.28 points.

Federal Reserve Chairman Powell stated that a rate cut is possible if supported by economic data, but the Federal Open Market Committee will not preemptively change policy until the situation is clearer. Chief Market Strategist at F.L. Putnam Investment Management, Ellen Hazen, remarked: "It is clear that this statement is trying to send a message to the White House that their recent actions have made the economic environment more difficult."

Author: Orisi T., Gate.io researcher *This article only represents the author's views and does not constitute any trading advice. Investment carries risks, and decisions should be made cautiously. *This content is original and the copyright belongs to Gate.io. If reprinting is needed, please indicate the author and source, otherwise legal responsibility will be pursued.