Critical data ahead: EU CPI and US PCE
Last week saw minimal macroeconomic activity. Moving forward, attention will be on critical events, including the release of EU CPI and US PCE data.
Crypto and blockchain events this week (May 24th~ 31st)
Meanwhile, here are the biggest crypto and blockchain events happening around the world this week so that you can stay informed.
Market overview
Bitcoin continues to exhibit a narrow trading range. Its value dipped to a recent low of $66,312 but did not breach the $66,000 support level. Two primary trends are currently anticipated:
Bitcoin could dip below $66,000 after a correction, followed by a bullish trend, possibly extending its consolidation phase.
Bitcoin could exceed $71,000, possibly indicating a false breakout, followed by a retracement for further consolidation, or a direct push past the previous high of $73,777.
Ethereum maintains strong performance, with the ETH to BTC ratio expected to rise until S-1 filing approval, targeting $4,900 in the medium term, suggesting new opportunities for Ethereum holders.
Visit WOO X Research for additional insights
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