Topic: #macro
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US inflation hits 3.8% in April, Bitcoin slides as Fed holds rates steady
Headline PCE inflation rose to 3.8% in April, nearly double the Fed's 2% target and its hottest pace in two years, while new Fed chair Kevin Warsh faces mounting pressure to justify holding rates steady through June.
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May Jobs Report Due Friday; April Payrolls Beat Forecast
The Bureau of Labor Statistics releases its May 2026 Employment Situation report on June 5, with April data showing 115,000 nonfarm payrolls against a 62,000-65,000 forecast. Steady growth and flat 4.3% unemployment may limit Fed rate-cut prospects, though declining labor participation signals underlying weakness.
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Bank of England holds rates at 3.75%, signals inflation tolerance
The Bank of England held rates steady at 3.75% in April 2026 and signaled willingness to tolerate inflation above its 2% target, prioritizing economic stability over aggressive tightening amid Middle East supply disruptions.
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Bitcoin ETFs post $229M outflow on 9th consecutive day of redemptions
Spot Bitcoin ETFs recorded $229 million in net outflows on May 28, extending a streak of institutional redemptions that signals declining risk appetite and caution in crypto markets amid macroeconomic headwinds.
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Bitcoin slips below $74,000 as ETF outflows stall recovery
Bitcoin dipped to $73,600 as of late May, marking the second time the asset fell below $75,000 in the month. ETF outflows totaling $2.26 billion over two weeks and heavy dealer positioning near $75,000 have stalled the market's recovery, with on-chain metrics showing a partial recovery lacking bull-market capital flow strength.
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Brent crude surges 5.8% to $114.44 as Middle East tensions roil markets
Renewed military escalations in the Middle East sent Brent crude surging 5.8% to $114.44 per barrel, triggering a broad selloff in equities. Bitcoin hovered near $66,000, showing mixed signals as investors weighed supply-chain risks and inflation concerns.
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Trump pledges Strait of Hormuz open under Iran deal, Bitcoin rebounds
President Trump declared the Strait of Hormuz would stay open to all nations under any Iran agreement, easing geopolitical risk. Bitcoin rebounded on the de-escalation signal after earlier losses during conflict tensions.
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US inflation accelerates to 3.8%, outpacing wage growth and delaying Fed rate cuts
US consumer price inflation jumped to 3.8% year-over-year in April 2026, the highest level since May 2023, while wage growth lagged at 3.6%, squeezing household budgets and pushing Federal Reserve rate cuts further into the future.
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BOJ Holds Rates at 0.75% as Oil Shock Threatens Inflation Outlook
Bank of Japan Governor Kazuo Ueda warned that surging crude prices from Middle East tensions could stoke inflation and slow growth simultaneously. The BOJ kept rates at 0.75% and lifted its FY2026 inflation forecast to 2.8%, leaving the door open to a June hike if second-round inflation emerges. Low rates may continue supporting the yen carry trade and risk assets like Bitcoin.
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ECB's Schnabel calls for June rate hike to combat 3% inflation
Isabel Schnabel, an ECB Executive Board member, says the central bank must raise rates at its June 10-11 meeting to counter euro-area inflation running at 3%, well above the 2% target. Markets price the odds of a 25 basis point hike at 85%.
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US-Iran tensions escalate as tanker boarding strains ceasefire talks
US Marines boarded an Iranian tanker in the Gulf of Oman on May 20, prompting Iran to demand $12 billion in frozen assets and threatening negotiations. The seizure marks the latest flashpoint in a fragile ceasefire and highlights crypto's role in sanctions enforcement.