Bitcoin price briefly taps $97,000 as talks with the U.S. over tariffs resume

The Fed kept interest rates in the U.S. during its latest meeting, pausing at 4.25% to 4.5% as anticipated.

The decision followed a strong April jobs report and sticky inflation readings. However, other data showed signs of slowing activity, raising concerns about a potential recession.

As expected, the Fed signaled further rate hikes this year, with officials seeing the terminal rate at a higher level than the current range, according to the minutes of the latest meeting released on May 4.

Pointing to the divergence in Fed and market expectations, traders now see a greater chance of a pivot towards rate cuts later this year.

According to analysts, the door is open for a July or September rate cut if the signals of an impending recession grow stronger.

Meanwhile, confirmed that talks with the U.S. will resume. Both economies have been hit hard by the trade war, and the potential thaw in relations was welcomed by markets.

Bitcoin responded with a sharp move upward on May 6, briefly touching the $97,000 level.

The bill (HB302) allows the state treasurer to purchase Bitcoin or any digital asset with a market cap over $500 billion, currently only Bitcoin, and hold it in a trust at market rate. Purchases are capped at 5% of total state funds.

The Pectra upgrade, originally planned for May 9, will be executed on May 7. It includes 11 changes aimed at improving user experience, validator operations, and Layer 2 scaling.

Ethereum co-founder Joseph Lubin highlighted it as a pivotal moment in the journey toward a fully decentralized global system.

However, despite this significant technical development, there was minimal impact on $ETH prices, which remained largely unchanged.

U.S. asset manager Bitwise has filed for a spot $NEAR ETF, continuing the trend of major asset managers focusing on U.S.-based crypto assets.

Moreover, the SEC has delayed its decision on Canary Capital’s proposed spot $LTC ETF, requesting more public comments and citing concerns about market manipulation.

Hedera recently announced support for ERC-20 tokens through HashPack and SaucerSwap integration.

EVM compatibility is also now live via WalletConnect, Fireblocks, and Copper, following the successful Chainlink CCIP integration.output: The Fed voted to keep interest rates unchanged at 4.25% to 4.5% during its latest meeting, as anticipated.

The decision comes amid a mixed economic picture, with strong jobs data and sticky inflation providing some support for further tightening.

However, other data showed signs of slowing activity, raising concerns about a potential recession.

As expected, the Fed signaled further rate hikes this year, and officials see the terminal rate at a higher level than the current range, according to the minutes of the latest meeting.

Pointing to the divergence in Fed and market expectations, traders now see a greater chance of a pivot towards rate cuts later this year.

According to analysts, the door is open for a July or September rate cut if the signals of an impending recession grow stronger.

Meanwhile, confirmed that talks with the U.S. may resume soon. Both economies have been hit hard by the standoff, and the potential thaw in relations was welcomed by markets.

Bitcoin responded with a sharp move upward on May 6, briefly touching the $97,000 mark as the news broke.

The bill (HB302) allows the state treasurer to purchase Bitcoin or any digital asset with a market cap over $500 billion, currently only Bitcoin, and hold it in a trust at market rate. Purchases are capped at 5% of total state funds.

The Pectra upgrade, originally planned for May 9, will be executed on May 7, two days earlier than anticipated.

The upgrade includes 11 changes aimed at improving user experience, validator operations, and Layer 2 scaling.

Ethereum co-founder Joseph Lubin called it a major step toward a fully decentralized global system. However, despite this technical leap, $ETH prices remained largely unchanged.

U.S. asset manager Bitwise has applied for a spot $NEAR ETF.

The move follows the trend of major asset managers focusing on U.S.-based crypto assets.

The SEC also announced that it has delayed its decision on Canary Capital’s proposed spot $LTC ETF, and is requesting more public comments. The regulator also cited concerns about market manipulation in its announcement.

Hedera recently announced support for ERC-20 tokens through HashPack and SaucerSwap integration.

EVM compatibility is also now live via WalletConnect, Fireblocks, and Copper, following the successful Chainlink CCIP integration.