#May CPI Incoming#
This Wednesday, the U.S. will release May CPI data — a key test for rate cut expectations. Cleveland Fed forecasts 2.4% YoY CPI (up from 2.3%), with core CPI flat.
💬 If inflation beats expectations, will the Fed still cut in June? Will you stay on the sidelines or take early action?
#Tech Giants Eye Stablecoins#
Apple, Google, Airbnb, and X are in talks to integrate stablecoins into their payment systems, aiming to cut fees and streamline global payments. Following Circle’s IPO surge, stablecoins are quickly gaining traction across tech and finance.
💬 Could stablecoins be
BlackRock made shocking statements about Bitcoin! "If this happens, it becomes risky not to actually own BTC."
The world's largest asset manager, BlackRock, stated that Bitcoin's (BTC) role in corporate investment portfolios is becoming increasingly critical.
The head of the company's digital assets unit, Robbie Mitchnick, stated that if Bitcoin breaks its correlation with technology stocks, "not owning BTC will become riskier."
Mitchnick stated, "The correlation of Bitcoin with technology stocks will be a critical determinant for institutional investors. If Bitcoin behaves like a technology stock, it won't be very attractive for these institutions. However, if it shows a low or negative correlation, meaning it can remain stable during sudden risky downturns, then it could become a very important asset for many institutional portfolios."
Bitcoin supporters argue that BTC has started to decouple from stocks and is moving with lower volatility, suggesting this points to Bitcoin's "safe haven" identity. This contributes to its positioning as an asset similar to gold.
Bloomberg ETF analyst Eric Balchunas, who moderated the panel featuring BlackRock representative Mitchnick, commented, "Large institutions are in search of digital gold. They want an invulnerable currency as a hedge against inflation and market fluctuations."
BlackRock CEO Larry Fink has long described Bitcoin as "digital gold," and this statement is central to the company's strategy of attracting investors to its Bitcoin ETF, which launched in January 2024 and has so far raised approximately $57 billion.