Next week is marked by significant developments on the international stage.
Canada plans to meet with President Trump, while negotiations with Japan show progress. The announcement of an almost finalized agreement with India has garnered attention. Additionally, the European Union expressed a strong desire to proceed with trade agreements, willing to spend up to $100 billion on additional imports. The coming days promise to be extremely eventful.
Cryptocurrency Trends: 5-11 May
The inaugural tariff agreement is set to be signed next week, as confirmed by Bessent. Meanwhile, positive remarks on the progress of trade talks with China have surfaced. On another note, the upcoming week will also see the Federal Reserve’s interest rate decision in the U.S., with Fed Chair Powell’s comments likely to provide guidance for the remainder of the year.
Amid data signaling a recession, the favorable PCE figures suggest that Powell might resume interest rate cuts by June, without delay. Despite the rapid interest rate cuts during the election period, the Federal Reserve has been holding steady, intending to keep rates unchanged at the May meeting. Yet, maintaining this approach under current circumstances appears unsustainable.
President Trump aims to reduce inflation by lowering oil prices and enhance national revenue through tariff agreements. In response to Trump’s calls, the Federal Reserve is expected to signal delayed interest rate cuts on Wednesday.
Expert Predictions
Today, we’ll discuss the market predictions of three different experts. First up, Altcoin Sherpa made a sarcastic post about ETH, suggesting it as an asset for those wishing to avoid sudden losses, as it declines slower compared to other altcoins. Such comments often emerge at low levels, and with the ETHBTC pair at historic lows, predictions of further decline might herald an upward trend.
Second on the list is DaanCrypto, who commented:
“Range and Compression. Small breakout. Tight breakout. Then upward movement. I can get used to this. Will it hold? Trend and momentum have favored bulls over the past few weeks. I will continue trading with the trend until this dynamic changes.”
Roman Trading, who recently forecasted a dip to $88,000, today shared the graph above, stating:
“BTC has officially returned to where I sold a few months back. Am I worried? Not at all. It’s impossible to sell at the peak. Except for one, each of my altcoin positions is still down 50%+ from where I sold. If altcoins start gaining, we’ll buy the dip again at a very low cost.”
The analyst appears concerned, and this could signal a shift to altcoins.
