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According to the CME FedWatch Tool, the probability of the Fed standing pat in September increased from 35.2% to 50.2% in the week ending May 24.

US-BTC-spot ETF market flow data reflected in the effects of the Fed rate path on demand for BTC. Net inflows trending lower on Wednesday and Thursday. Nevertheless, the BTC-spot ETF market recorded total net inflows of $1,056.7 million in the week ending May 24, supporting BTC at current price levels.

US consumer confidence numbers (May 28) and the US Personal Income and Outlays Report (May 31) could further influence sentiment toward the Fed rate path. An unexpected pickup in consumer confidence, upward trends in personal income/spending, and sticky inflation may sink bets on a September Fed rate cut.

Market sentiment toward the Fed rate path overshadowed Republican Party front-runner Donald Trumps support for the crypto market.

However, ethereum (ETH) had a contrasting Sunday session, gaining 2.01% to end the week up 24.59% to $3.826. Progress toward a US ETH-spot ETF market drove buyer demand for ETH.

BTCsat above the 50-day and 200-day EMAs, sending bullish price signals.

Originally posted here:
Bitcoin (BTC) News Today: Fed Rate Outlook Weighs on BTC, Trump's Support Unheeded - FX Empire