Analysis: Mixed US economic report may stimulate the Fed to turn dovish, which is good for Bitcoin

Odaily Planet Daily News: Recent U.S. economic data has been mixed, including slowing GDP growth, falling consumer spending and a weak job market, triggering market expectations that the Federal Reserve may turn to a dovish stance at its May policy meeting. Analysts believe that if the Fed slows down interest rate hikes or considers cutting interest rates, it will be beneficial to the performance of risky assets such as Bitcoin. Citi Chief Economist Andre Hollenhorst said that continued weakness in the labor market could prompt the Federal Reserve to cut interest rates faster than the market expects. Currently, the market only expects a 50 basis point rate cut by mid-2026. The price of Bitcoin has recently fluctuated between $93,000 and $95,000, and investors are paying attention to the impact of changes in the Fed's policies on its trend. (The Block)