What to know:

You’re reading the Crypto Daybook Americas, a fresh daily overview of the cryptocurrency landscape. This daily brief provides insights into recent market movements and expectations for the upcoming trading day. Subscribers receive this newsletter early each morning to stay informed.

Market Update

Currently, Bitcoin (BTC) is in a holding pattern near $104,577 as traders await U.S. inflation metrics scheduled for release at 8:30 AM. As trade tensions between the U.S. and China have eased, there is cautious optimism for potentially favorable inflation results, which could affect Federal Reserve interest rates. If positive, this sentiment may lead Bitcoin to explore new peaks and promote a shift towards altcoins.

The Bitcoin market cap has seen fluctuations, most recently peaking over $109,000 earlier this year, and its movements have mirrored notable trends in U.S. asset classes. Notably, significant price actions suggest Bitcoin could play a leading role in trends affecting other assets moving forward.

Events to Watch

• Crypto:

  • May 14: Neo’s mainnet upgrade scheduled to commence.
  • May 14: Anticipated launch of the VanEck Onchain Economy ETF.

• Macro:

  • May 13, 8:30 AM: April inflation data from the U.S. Bureau of Labor Statistics to be released.

• Earnings:

  • May 13: Semler Scientific’s financial results expected after-market.

Highlights

• Bitcoin’s dominance continues to shape the wider cryptocurrency market.
• Anticipation swells around memecoins, especially related to recent activities on platforms specializing in meme-based tokens.

Stay tuned as more developments unfold in the ever-changing crypto landscape. Feel free to subscribe to our newsletter for timely updates!