🔮 What Today's CPI Numbers Mean For BTC Price - Will The Fed FInally Cut?

🎵The best part of waking up is Pep Talk in your cup 🎵

State of the Market: Bitcoin's Inflation Blues: Is this the Pump we've been waiting for? 📉👀

Are we still expecting Uncle Powell to pump our bags? Why is Bitcoin so correlated to US equities? Why does John Wick not open a dog shelter? We have the answers to at least two of these questions. 🤔

Bitcoin got the inflation blues on Tuesday. ☹️ Higher-than-expected U.S. wholesale inflation numbers sent its price tumbling below $62K 📉. There are still inflation concerns, and April's Producer Price Index (PPI) rose by 0.5%, surpassing economists' forecasts of 0.3%, signaling persistent inflation. It seems our favorite crypto is still feeling the effects of those pesky macroeconomic factors 🌍.

The upcoming CPI release is like a fortune cookie for Bitcoin's future 🥠, so all eyes are on that! 👀

We've moved on from the spot Bitcoin ETF hype. It's all about the macroeconomics picture now 🧐. Check out today's chart to see how Bitcoin's been mimicking the stock market lately 👯‍♀️.

Inflation's the Word on the Street. This week, it's all eyes on those inflation reports 👀 (CPI anyone? 🙋‍♂️🙋‍♀️). They're basically the crystal ball for Bitcoin's next move 🔮. Oh, and forget about those Fed rate cuts ✂️. Inflation's being a stubborn little bugger 🐜, so it's unlikely we'll see any relief there.

Everyone's on Inflation Watch (Will the Fed stand and cut, or will it hike rates again?)

The whole world's was betting on 3.4% inflation for CPI and 3.6% for core CPI. And that is what happened; CPI numbers came as expected! This was the first dip since January 2024. Bitcoin immediately reacted and pushed for $64K, and SP500 reached an all-time high during the market opening 🥳 But hold your horses! 🐴 Is this the confirmation that inflation is giving up or that is still high? The inflation is still above 3%, a little bit too far from the 2% Fed target.

Is the Fed willing to cut rates? Market is positive right now, but remember, investors need to digest the data and wait for Uncle Powell's move. The Fed can consider the inflation to be still too sticky and might start talking about rate hikes again. 😱😱😱

Chart of the day.

Our beloved digital gold isn't just a pretty face. It's like a canary in the coal mine for the entire market. When Bitcoin sneezes, the rest of the financial world reaches for a tissue 🤧.

Remember when Bitcoin hit its all-time high in March? 🚀 That was right after a massive ETF inflow and a dip in the US Dollar Index (DXY) 💵📉. This tells us two things:

-Bitcoin loves a good party when the dollar's feeling down 🎉

-Bitcoin and the DXY are like oil and water 💧🔥

But here's the kicker: Bitcoin and US equities are currently two peas in a pod 👯‍♂️. This means the market is holding its breath for that CPI data drop 🌬️. Will inflation cool down or keep things sizzling? 🔥

In the meantime, let's keep an eye on Bitcoin's dance moves 🕺. It might just tell us where the whole market is headed next! 🌍

Most important news of the day.

Guess who's back on the scene? Roaring Kitty 🐈‍⬛, the meme stock maestro himself! 🎩 After a three-year hiatus, his return to Twitter (now X) has sent GameStop (and other meme stocks) to the moon! 🌙 Looks like the 2021 meme stock mania is making a comeback! 🎉

Meanwhile, in the crypto mines, things are getting a little less difficult (for miners, that is). 😎 The recent drop in Bitcoin mining difficulty is the biggest we've seen since the crypto winter ❄️, giving lower-cost miners a chance to shine. ⛏️

In a not-so-fun turn of events, Alexey Pertsev, a developer for the Tornado Cash privacy tool 🌪️, was sentenced to prison in the Netherlands. This has the crypto community worried about the future of privacy-focused software development. 😬

The State of Wisconsin Investment Board just made history as the first U.S. state pension fund to invest in spot Bitcoin ETFs 🤑. Could this be a sign that more institutions are warming up to crypto? 🤔

Beware, internet friends! Hackers are getting sneaky with AI-powered 🤖 social engineering tactics 🦹. The vast majority of cyberattacks now involve these tricks, so stay vigilant and keep your digital defenses strong! 🛡️

Our Daily Pick: Friend.Tech, the new social media where your attention is $$$ 🤑

Tired of scrolling through endless social media feeds for free? 🥱 Friend.Tech is here to shake things up! 🚀 This hot (not so) new app on Coinbase's Base network turns your attention into a commodity. 💰

How does it work? 🤔 

Keys to the Kingdom: Buy "Keys" to your favorite creators' profiles. 🔑 These Keys aren't just for show, they unlock exclusive chats and other perks. 😎

Tokenized Attention: Each Key is like a share in a creator's social token. 📈 The more popular the creator, the more valuable their Keys become! 🤑

Decentralized Vibes: Built on Base, Friend.Tech gives creators more control over their content and earnings. 🙌

🦹‍♂️ The Mysterious Masterminds

Turns out, the mastermind behind FriendTech 🤯 is none other than 0xRacerAlt 🏎️, the same genius who brought us TweetDAO and Stealcam. 📸 Talk about a social experiment trifecta! 🏆

TweetDAO, back in 2022, was like a Twitter account on steroids 💪, where NFT holders could tweet their little hearts out. 🐦 Now, FriendTech is taking the social scene by storm 🌪️. Looks like this 0xRacerAlt knows a thing or two about building a community. 🤝

Friend.Tech Superpowers 💪

🤑 Creators Get Paid: Finally, a way for creators to monetize their influence beyond ads and subscriptions! 💰

🤫 Exclusive Access: Key holders get to chat with their favorite creators like they're BFFs. 👯

📈 Potential for Profit: Buy low, sell high! If a creator blows up, so does the value of their Keys. 🚀

🤔 But is it all sunshine and rainbows?

🥷 Anonymous Team: The lack of transparency has some people worried. 🤷

⚠️ Privacy Concerns: There have been reports of privacy and security risks. 🚨

❓ Will it Last?: The project was launched almost a year ago, and they’ve had a bumpy ride so far. Only time will tell if the Friend.Tech model is sustainable. 🤔

🚀 The Future of Friend.Tech 🚀

Despite the challenges, Friend.Tech is an exciting new experiment in social media and more than a decentralized social media. 🧪 It's a chance for creators to take control and for fans to connect with them on a deeper level. 💖 Who knows, maybe this is the future of social networking? 🔮

Enjoy hump day 😉 

-Pep