On May 1st, economic data released by the United States showed economic growth slowing down, with continued easing of inflationary pressures, and market expectations for an imminent Federal Reserve interest rate cut rising. The ADP non-farm employment population added only 62,000 jobs, far below the expected 246,000, indicating a weak labor market. The core PCE year-on-year rate was 2.6%, slightly lower than the expected 2.9%; the month-on-month rate was 0.3%, showing that inflationary pressures persist. The first-quarter GDP annualized quarterly rate decreased by 0.3%, the first contraction since 2022, mainly due to businesses importing in advance to avoid new tariffs, leading to a surge in imports.
Bitunix analysts suggest: These data have intensified market concerns about economic slowdown and persistent inflation, with investors expecting the Federal Reserve to begin cutting rates in June. BTC is currently oscillating and consolidating in the 92K-96K range. ETH is oscillating and consolidating in the 1.7K-1.8K range. If the Federal Reserve indeed cuts rates, it may boost market sentiment and drive prices to break through the range. Investors should pay attention to the Federal Reserve's policy direction to adjust their investment strategies.
