Continuing, trading firm Mosaic Asset argued that trade news aside, risk assets lacked bullish impetus thanks to an ongoing hawkish policy stance from the US Federal Reserve and Chair Jerome Powell. The Fed left interest rates unchanged at its meeting last week, with markets increasingly pricing out a cut before July.“While there is some easing of tensions on the trade front, the latest interest rate setting meeting by the Federal Reserve isn’t delivering any bullish catalysts,” Mosaic Asset wrote in the latest edition of its regular newsletter, “The Market Mosaic.”“Despite capital market volatility this year, Fed Chair Powell reiterated his message that the Fed can take a ‘wait and see’ approach to how tariffs are impacting the economy and inflation.”Fed target rate probabilities (screenshot).
In one of its “Quicktake” blog posts on May 11, onchain analytics platform CryptoQuant examined whether the Bitcoin investor base was inclined to “smart distribution” at current levels.“When BTC's supply in loss drops to between 0–2%, it typically coincides with late-stage bull runs,” contributor Kripto Mevsimi summarized. “As shown in the chart, these moments cluster near macro tops — a zone often characterized by overconfidence.”BTC supply days in loss (screenshot).
Source: Rekt Capital/XBefore the close, BTC/USD had given strong cues that a retest of all-time highs could be on the cards and even a venture beyond.“Bitcoin is on the cusp of beginning Price Discovery Uptrend 2,” Rekt Capital stated at the time.BTC/USD 1-week chart.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by William Suberg
The story "BTC bulls get 'biggest signal' — 5 Things to know in Bitcoin this week" has 1322 words across 48 sentences, which will take approximately 6 - 12 minutes for the average person to read.
Which news outlet covered this story?
The story "BTC bulls get 'biggest signal' — 5 Things to know in Bitcoin this week" was covered 17 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 29 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
