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Unlock today’s key crypto market insights at a glance!
Top Gainers⭐️ $SNAKEAI $YBDBD $BASEPTL $FPFT $TMAI
Trending Coins🔥 $YBDBD $LAUNCHCOIN $SPX $MIRAI $ANIME
#FearGreedIndex# #TopGainers#
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This Wednesday, the U.S. will release May CPI data — a key test for rate cut expectations. Cleveland Fed forecasts 2.4% YoY CPI (up from 2.3%), with core CPI flat.
💬 If inflation beats expectations, will the Fed still cut in June? Will you stay on the sidelines or take early action?
#Tech Giants Eye Stablecoins#
Apple, Google, Airbnb, and X are in talks to integrate stablecoins into their payment systems, aiming to cut fees and streamline global payments. Following Circle’s IPO surge, stablecoins are quickly gaining traction across tech and finance.
💬 Could stablecoins be - Trading Myth vs Reality: Rising Wedge
❌ Myth
"A rising wedge is a bullish signal; buy immediately once the pattern completes."
✅ Reality
Proper rising wedge trading requires confirmation:
1.A clear break below the lower line (2 confirmed closes)
2.Volume increase on the break
3.A pullback that doesn't break above the lower line
💡 How to trade correctly:
· Wait for the pullback after the break
· Set stop-loss above the upper line
· If price breaks above upper line, volume must confirm or it's a false breakout
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Bitcoin fell to 14.5 million yen, searching for a bottom ahead of the US employment statistics and CPI announcement | Contribution from bitbank analysts
The analyst Hasegawa from the major domestic exchange bitbank illustrated the Bitcoin chart for this week and interpreted the future outlook.
Table of Contents
Bitcoin On-Chain Data
BTC transactions
BTC trading volume (monthly)
Active Addresses
Active Address Count (Monthly)
BTC mining pool withdrawal address
Exchange and other services
bitbank Analyst Analysis (Contribution: Tomoya Hasegawa)
This Week's Weekly Report:
This week's Bitcoin (BTC) to yen exchange rate has shown minor fluctuations, ultimately performing a further decline, dropping from 15 million yen to as low as 14.5 million yen.
At the beginning of the week, the deterioration of US-China relations regarding tariffs weighed on the markets, causing BTC/JPY to drop below 15 million yen. On the other hand, on this day, the Texas legislature adopted the report on SB21, and the market gradually attempted to recover.
On the 3rd, it was decided that the leaders of the U.S. and China would have a phone call, and the market further recovered its level; however, the upside was limited due to several Federal Reserve officials expressing concerns about rising prices due to Trump's tariffs.
From the middle of the week, the weak US economic indicators, along with Russia's display of a hardline stance against Ukraine during the US-Russia summit, became selling factors, and BTC tested 15 million yen again.
The market stopped falling at a milestone level on the 5th, and temporarily tested the upside in response to the ECB's interest rate cut, but when Trump and Musk exchanged criticisms of both sides on SNS over the "Trump tax cut" bill, Tesla's stock price plummeted due to concerns about the suspension of subsidies for electric vehicles, and BTC was also searching for a lower price.
At the time of writing this article, the market has stabilized at 14.5 million yen and is gradually attempting to recover.
Tesla plummeted in the US market on the 5th, but the impact was localized, and the decline in the three major indices was also limited. Additionally, with improvements in US-China relations regarding trade indicated on the 5th, the risk-off mood is expected to come to an end temporarily.
On the other hand, a series of U.S. economic indicators deteriorated this week, including the ADP employment report, the U.S. non-manufacturing PMI, and the U.S. initial jobless claims. While recession fears are smoldering, the Fed funds rate futures market is gradually pricing in a rate cut in July and September, and depending on the results of the U.S. employment report on the 6th, the BTC market may feel that it has bottomed out.
However, it cannot be said that the BTC market outlook is clear heading into next week. On the 11th, the U.S. Consumer Price Index (CPI) for May will be announced, followed by the Wholesale Price Index (PPI) and inflation indicators on the 12th.
As of now, the acceleration of the inflation rate has not been confirmed from the implementation of the Trump tariffs until April this year, but it would not be surprising if there is a transfer of rising import prices to goods and services soon.
If inflation re-ignition is suggested, it has been pointed out that the mood in the BTC market may worsen ahead of the Federal Open Market Committee (FOMC) meeting in two weeks, and depending on the situation, a scenario testing 100,000 dollars (approximately 14.4 million yen) may also be considered.
However, currently, the maximum pin in Deribit's BTC options market is $100,000, and a significant decline in the market from this level is not anticipated.
In the worst-case scenario, I believe that the estimated average acquisition cost of short-term holders (STH) around $97,000 (approximately 14 million yen) will serve as support for the market (Figure 2). The average acquisition cost of STH tends to function as support during an upward trend in the market and as resistance during a downward trend.