Bitget Daily Digest (May 8)｜Fed Holds Rates Steady for the Third Time, Trump Says He Will Announce Big News Today

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远山洞见2025/05/08 01:44

By:远山洞见

Today’s Preview:

1.Trump: A major announcement will be made at 10 PM tonight.

2.U.S. Initial Jobless Claims for the week ending May 3 to be released today (prior: 241,000).

3.U.S. April NY Fed 1-Year Inflation Expectations to be published today (prior: 3.58%).

4.Ethereum Name Service (ENS) unlocks 1.45 million tokens worth ~$26.2 million.

5.ZK Nation Airdrop Hack: Proposal to convert recovered ETH to ZK opens for voting around 2:00 AM on May 8.

Macro & Hot Topics:

1.The Federal Reserve has kept the federal funds rate target at 4.25%-4.50% for the third consecutive time since January.The FOMC statement warns of rising risks from unemployment and inflation. Economic outlook remains uncertain.

Fed Chair Powell said there’s no rush to adjust rates. Trump’s calls for cuts have no impact. Inflation has significantly declined, though short-term expectations are up. Tariffs are a primary driver of inflation expectations, with greater-than-expected impact.

2.Eric Trump, EVP of Trump Organization, said at Token2049 Dubai:“I love Bitcoin. I believe it’s digital gold. I personally hold a large amount of BTC, and so does my father. I expect exponential growth in the coming years.” He introduced World Liberty, aimed at "taking over the financial world" by modernizing the current “broken system.” Details remain unclear, but he hinted it could be one of the fastest-growing crypto projects.

3.Ethereum Mainnet has activated the Pectra Upgrade, the most significant since The Merge in 2022.Includes 11 EIPs focused on improving staking, UX, and Layer 2 scalability.Sets foundation for the upcoming Fusaka Upgrade (Verkle Trees, PeerDAS).

Most notable: EIP-7702, allowing EOAs to temporarily execute smart contract functions, enabling features like gas sponsorship and key recovery via social contacts.

4.MOG Coin is sparking a cultural wave in elite tech circles, blending "mogging" (becoming faster/stronger) and accelerationism into the mog/acc movement.

Influencers like Garry Tan and Elon Musk are using Pit Vipers sunglasses avatars.Solana projects like Raydium and Jupiter have joined the meme movement.It contrasts with Vitalik’s 2023 “defensive accelerationism (d/acc),” focusing on cautious innovation.MOG’s strategy of turning abstract philosophy into viral visuals is reminiscent of Dogecoin's early success.

5.CoinDesk: Despite only a 3.8% YTD rise in BTC (vs. gold’s 29%), BlackRock’s IBIT ETF saw $6.96B in net inflows, surpassing SPDR Gold Trust’s $6.5B.Suggests strong institutional conviction in BTC’s long-term value.Analysts expect BTC ETF AUM to triple gold ETFs within 3–5 years.

6.President Trump will hold a major press conference at 10 AM ET (10 PM Beijing time) in the Oval Office to announce a significant trade agreement with a “respected major country.”

Market Trends:

1.BTC surged short-term to $97,000 with dominance at 64.4%; Altcoin Season Index rising.$ALPACA leads after a sharp reversal; $PIXFI and other small caps show volatility.

2.Fed Holds Steady, next FOMC meeting: June 17–18.

Bitget Daily Digest (May 8)｜Fed Holds Rates Steady for the Third Time, Trump Says He Will Announce Big News Today image 1

3.Bitget BTC/USDT liquidation map:

At $97,132: a 1,000-point drop to $96,132 would liquidate $44M in longs.A rise to $98,132 would trigger over $570M in short liquidations.Shorts far outweigh longs – leverage should be managed cautiously.

Bitget Daily Digest (May 8)｜Fed Holds Rates Steady for the Third Time, Trump Says He Will Announce Big News Today image 2

4.In the last 24 hours: BTC spot inflow: $2B, outflow: $2.12B, net outflow: $120M.

Bitget Daily Digest (May 8)｜Fed Holds Rates Steady for the Third Time, Trump Says He Will Announce Big News Today image 3

5.Top net outflow futures in the past 24H: $LAYER, $FARTCOIN, $XRP, $ADA, $SUI – potential trading opportunities.

Institutional Insights:

K33 Research: Hold assets in May, Trump’s policies could catalyze a summer crypto rally. Link

QCP Capital: FX market and NH state legislation support BTC rise. Link

Greeks.live: Traders preparing for potential downside. Link

News Updates:

1.Eric Trump: Owns large BTC holdings; so does Donald Trump.

2.U.S. Senate to vote on the GENIUS stablecoin bill Thursday.

3.EU to decide on new countermeasures against U.S. tariffs.

4.Powell: Trump’s rate cut demands don’t influence the Fed.

Project Updates:

1.Uniswap DAO delegate Pepo resigns, alleging centralization by the Foundation.

2.Arbitrum DAO considering lowering proposal quorum from 5% to 4.5%.

3.Vaulta: EOS tokens to be swapped for Token A on May 14 (1:1 ratio).

4.Elon Musk and Garry Tan support “Mog/Acc” identity; MOG price surges.

5.World Network launches flagship store in SF, with Orb device for human verification.

6.Ethereum devs activate Pectra with 11 upgrades enhancing UX, staking, and L2.

7.BlackRock’s BTC ETF inflows surpass world’s largest gold ETF in 2024.

8.Movement Labs rebrands to Move Industries, rolling out new governance and roadmap.

9.Aave proposes LP lending module for Uniswap V4 to boost GHO and revenue-sharing.

10.Ozean & Paimon Finance launch HYD token, tied to Blackstone’s $50B private credit fund.

Highlights on X

1. @Guilin_Chen_: Misaligned opportunity in range-bound market

BTC has ~5% upside left; altcoins have seen deep pullbacks and offer better risk-reward. Focus shifts to SOL and ETH for potential leadership.

Link

2. @Bitfool1: BTZ rebound driven by strong hands + MCP narrative

BTZ surges as MCP story gains traction, positioning it as a modular anti-bot platform on BSC. Backed by tech, narrative, and meme synergy.

Link

3. AB Kuai.Dong: Movement saga nears conclusion?

Series of events since Feb indicate deep internal turmoil; from AMA defenses to token dumps, and now potential CEX suspensions.

Link

4. YettaS: Tether's grand BTC financial strategy via SPACs?

Tether moves BTC off-balance-sheet via 21 Capital’s U.S. SPAC listing, aligning with upcoming regulations while maximizing arbitrage and influence.

Link

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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