BitUnix analyst: Weak US economic data, market expectation of Fed rate cut in June, cryptocurrency market continues to fluctuate, waiting for breakthrough

According to BlockBeats, on May 1st, economic data released by the United States showed a slowdown in economic growth, continued easing of inflationary pressures, and increased market expectations for the Federal Reserve's upcoming interest rate cuts. ADP's non-agricultural employment added only 62000 new jobs, far below the expected 246000, indicating a weak labor market. The core PCE annual rate was 2.6%, slightly lower than the expected 2.9%; The monthly rate is 0.3%, indicating that inflationary pressure is still present. The annualized quarterly rate of GDP in the first quarter decreased by 0.3%, marking the first contraction since 2022, mainly due to companies importing ahead of schedule to avoid new tariffs, resulting in a surge in imports. BitUnix analysts suggest that these data exacerbate market concerns about economic slowdown and persistent inflation, with investors expecting the Federal Reserve to begin cutting interest rates in June. BTC is currently oscillating and consolidating within the range of 92K-96K. ETH is oscillating and consolidating between 1.7K-1.8K. If the Federal Reserve does indeed cut interest rates, it may boost market sentiment and push prices beyond the range. Investors should pay attention to the policy trends of the Federal Reserve in order to adjust their investment strategies.