Key Highlights:

• You are reading Crypto Daybook Americas, a morning briefing summarizing overnight changes in the cryptocurrency market and expectations for the day ahead. Crypto Daybook Americas lands in your inbox at 7 a.m. ET for a comprehensive market overview. If you’re not subscribed yet, click here.

• The current outlook for Bitcoin (BTC) remains positive despite a recent decline to $95,000 from highs exceeding $98,000, alongside a drop in the total cryptocurrency market capitalization below $3 trillion.

• Notably, U.S.-listed spot Bitcoin ETFs saw substantial net inflows—$1.8 billion last week, translating to over 18,500 BTC. This figure is six times the amount mined within the same period, per sources like Farside Investors and HODL15Capital.

• An increase in on-chain activity suggests a bullish sentiment, with active BTC addresses surpassing 800,000. While this figure is shy of previous peaks, it indicates an uptick in engagement and potential market demand.

• For Ethereum (ETH), the volume of ETH within accumulation addresses surged by 22% to 19.04 million in two months, as it prepares for the upcoming Pectra upgrade, aimed at enhancing scalability and efficiency.

• The Federal Reserve’s interest rate decision is anticipated this Wednesday, with expectations for it to resist calls for rate cuts amid ongoing inflation worries.

• “Volatility is coming,” warned PowerTrade, highlighting key economic data releases and the Fed’s impending decision as pivotal moments this week.

What to Watch:

• Crypto Events:

  • May 5: The Crescendo network upgrade launches on the Kaspa mainnet, enhancing performance.
  • May 6: Casper Network introduces its 2.0 mainnet upgrade.
  • May 7: The Pectra hard fork activates on Ethereum.
  • May 8: Judge John G. Koeltl is set to sentence Alex Mashinsky, former CEO of Celsius Network.

• Macro Events:

  • Upcoming U.S. economic activity data scheduled for release.
  • The Federal Reserve’s statement on interest rates will occur on May 7, along with a live-streamed press conference.

• Earnings:

  • May 6: Expected earnings from Cipher Mining.
  • May 8: Earnings reports from CleanSpark and Coinbase Global.

Market Movements:

• Bitcoin is currently priced at $94,447.49, down 1.27%.
• Ether is at $1,819.25, down 0.77% since the previous close.

Key Stats:

• BTC Dominance: 64.65
• Ethereum to Bitcoin Ratio: 0.01928

Stay informed and engaged as these developments unfold.