Bitcoin Sidesteps Inflation Shock, Rally Doubts Linger
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April's PCE data matched expectations, with headline inflation at 3.8% YoY and core at 3.3%, averting a macro shock. This leaves Bitcoin in a fragile equilibrium below $75,000, where panic has subsided but fresh demand has yet to materialize. The crypto market now needs a catalyst to confirm the rally's sustainability, as the absence of negative surprises is insufficient to drive renewed upward momentum.
Without a clear trigger, Bitcoin risks consolidation or a gradual decline if demand remains tepid. The macro environment is neutral but not supportive enough to push prices higher. Traders should watch for volume spikes or institutional flows as indicators of renewed conviction.
Overall, the market is in a wait-and-see mode, with the burden of proof on bulls to reignite the uptrend.
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