💰 Gate.io Daily Topic & Post Event
➡️ #BitcoinStrategicReserveAct#
— On May 7, New Hampshire became the first U.S. state to include Bitcoin in its strategic reserves. The new HB 302 bill allows up to 5% of public funds to be invested in digital assets and precious metals with a market cap over $500B.
Will this boost Bitcoin’s price? Could it set a trend for other states or countries? Share your thoughts!
➡️ #FOMCMeeting#
— The Fed will announce its May rate decision on May 8. Despite pressure to cut, markets expect no change. How do you think this will impact the market?
✍️ Post with #Bitcoin
#NFP Data Release#
The upcoming U.S. Non-Farm Payrolls (NFP) report on May 2, 2025, is poised to be a significant event for financial markets, including cryptocurrencies. Historically, NFP data has influenced crypto prices by affecting investor sentiment and expectations regarding monetary policy.
Potential Scenarios and Crypto Market Implications
1. Stronger-than-Expected NFP Report:
• Implications: A robust jobs report could indicate a healthy economy, potentially leading the Federal Reserve to maintain or even increase interest rates to curb inflation.
• Crypto Market Reaction: Higher interest rates can strengthen the U.S. dollar and make risk assets like cryptocurrencies less attractive, possibly leading to a price decline in assets such as Bitcoin and Ethereum .
2. Weaker-than-Expected NFP Report:
• Implications: A disappointing jobs report may suggest economic slowdown, increasing the likelihood of the Fed considering rate cuts to stimulate growth.
• Crypto Market Reaction: Lower interest rates can weaken the dollar and boost appetite for risk assets, potentially driving up crypto prices .
Current Market Dynamics
• Bitcoin (BTC) is trading around $95,066, showing modest gains in anticipation of the NFP report.
• Ethereum (ETH) is priced at approximately $1,807, also reflecting cautious optimism.