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Report: Market expectations shift from "rate cut" to "rate hike", Bitcoin's rebound momentum weakens.

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ME News, May 20 (UTC+8), Wintermute's latest report states that the global market narrative has rapidly shifted from 'when will rates be cut' to 'whether a rate hike is needed.' Influenced by rebounding inflation pressures and hot macro data, crypto market momentum has cooled. Bitcoin has pulled back after briefly breaking above $83,000, and major altcoins have generally recorded double-digit declines within the week. The report points out that this rally was mainly driven by short squeezes in the perpetual futures market, rather than spot buying support. During the same period, Bitcoin derivatives open interest increased by $10 billion to $58 billion in one month, while spot trading volume fell to a two-year low. Although spot ETFs recently saw net inflows of $623 million and exchange Bitcoin reserves dropped to a 7-year low, they are still insufficient to hedge short-term macro risks. (Source: ODAILY)
BTC0.09%
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