Daily News | BTC Continues to Counterattack and Stand aAbove the $98K Mark, Mikami Plummeted 85% After Going Online

Bitcoin20in20the20summer392522">link">Crypto Daily Digest: The Fed kept interest rates unchanged for the third time, and analysts say there are many positives for Bitcoin in the summer

According to Farside Investors data, a total of $105 million flowed into US Bitcoin spot ETFs yesterday. Among them, ARKB received $54.7 million and Fidelity FBTC received a net inflow of $39.9 million. The inflow and outflow data of ETH ETF yesterday were almost negligible.

Fed kept interest rates unchanged for third time

The Federal Reserve recently kept interest rates unchanged for the third time, maintaining the benchmark interest rate target range at 4.25%-4.50%, in line with market expectations, and took a cautious stance amid the increasing uncertainty in the economic outlook caused by tariff policies. Although the Federal Reserve believes that the overall economy is still “soundly expanding”, the FOMC issued a rare warning in its post-meeting statement that the risks of high inflation and high unemployment are rising simultaneously, making the economic outlook even more confusing.

Analysis: There are many positive catalysts for Bitcoin this summer

K33 Research, an analysis agency, stated that the crypto market in the summer of 2025 may be different from previous years, mainly due to the multiple policies promoted by former US President Trump. Trump has previously signed an executive order to establish a strategic Bitcoin reserve and digital asset reserve, aiming to position the United States as a global leader in cryptocurrency. The strategic reserve is mainly composed of Bitcoin confiscated by the Ministry of Finance and is not expected to be sold but held for the long term as a national reserve asset. Although the initial market reaction was flat, with Bitcoin prices remaining between $77,000 and $87,000 for most of April, analysts believe that this policy could drive institutional investor participation in the long run, creating a “flywheel effect” to accelerate industry growth. They also recommend that investors hold onto their coins in May and wait for the policy effects to gradually emerge, rather than adopting the “sell in May and leave” strategy that cryptocurrencies have inherited from traditional markets.

Opinion: Fed will cut rates by July

On May 8, the Federal Reserve kept its benchmark interest rate unchanged at 4.25%-4.50%, in line with market expectations, and remained unchanged for the third consecutive meeting. After the Fed’s interest rate decision was announced, traders continued to believe that the Fed will cut interest rates before July, and still expected three rate cuts this year.

Market Trends: BTC fluctuated upward and broke through $98,000

Market Hotspots

Yua Mikami’s personal meme $Mikami was launched 5 hours ago and distributed tokens to pre-sale users. The cost of obtaining tokens for pre-sale users was $0.245, and the price plummeted 85% after it was launched. Meme coins are greatly affected by emotional manipulation. Although they have accumulated popularity in the short term due to the celebrity effect, they are ultimately short-lived due to the lack of real value.

EOS rose more than 10% in 24 hours. Previously, Vaulta (formerly EOS) announced that EOS tokens will be replaced with $A on May 14, supporting 1:1 wear-free exchange and no token economics changes.

Mainstream Coins

BTC fluctuated upward and broke through $98,000 during the session. Market data showed that Bitcoin’s market share (BTC.D) has continued to rise since March 26 and is now at 65.4%, setting a new high in this bull market.

ETH followed the broader market and broke through the $1,800 mark, but ETF inflow and outflow data were almost negligible.

Altcoins generally rose, and all sectors rose under the leadership of the broader market, but the gains were generally weak.

Macro News: The Fed remains on hold, and the three major indexes are boosted and strengthened

On Wednesday, U.S. stocks closed higher across the board. The Federal Reserve remained on hold, and chip stocks were boosted by reports that the restriction order was expected to be lifted. As of the close, the Dow Jones Industrial Average rose 284.97 points, or 0.70%, to 41,113.97 points, the Nasdaq rose 0.27% to 17,738.16 points, and the S&P 500 rose 0.43% to 5,631.28 points.

Fed Chairman Powell stated that if there is support from economic data, a rate cut is possible, but the Federal Open Market Committee will not preemptively change policy until the situation becomes clearer. Ellen Hazen, chief market strategist at F.L. Putnam Investment Management, said: “It is clear that this statement is trying to send a message to the White House that their recent actions have made the economic environment more difficult.”