Bitcoin Shrugs Off Growing Rate Cut Hopes as Stocks Climb
Bitcoin's price fell to $91,800 before stabilizing around $93,300, remaining flat over the day. Ethereum decreased by 1.8% to $1,760, while Solana rose by 1% to approximately $151. Federal Reserve Bank of Cleveland President Beth Hammack indicated the Fed would be "preemptive" on rate cuts as the impact of tariffs on the economy becomes clearer. The S&P 500 and Nasdaq increased by 2% and 2.6%, respectively, but both indices remain below their April 2 opening prices. Traders now see a 45% chance of two rate cuts by July, with expectations for steady rates dropping to 9%. Despite Bitcoin's price stagnation, spot Bitcoin ETFs attracted $1.8 billion in inflows over two days, the highest since early January. Analysts suggest that institutional buying is being countered by profit-taking and reduced retail activity. Trump criticized China regarding Boeing contracts in a social media post.
