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“Despite not breaking out from the symmetrical triangle formation as anticipated, Bitcoin's position above the 50-day moving average fuels our optimism for reaching new all-time highs soon,” they said. “The inflation acceleration in March suggests a persistent high-inflation environment, likely influencing the Federal Reserve to maintain its current interest rate stance,” they said. “Contrary to prior expectations of rate cuts commencing in June, the market consensus has now adjusted, delaying the anticipated reduction to September.”
Uniswap led the losers with a decline of 10% after the Securities and Exchange Commission sent Uniswap Labs a Wells Notice indicating it will soon face a lawsuit. Other notable declines include Theta Fuel , which fell 9%, and Axelar , which lost 8.5%.
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Cryptos soar, stocks slide as Bitcoin ETFs and inflation worries drive market splitThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
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