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## Crypto Daily Digest: Goldman Sachs expects the Fed to cut interest rates three times this year, and the report says BTC is expected to continue its bull market after stabilizing at $95,000
According to Farside Investors data, the total outflow of US <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> spot ETFs yesterday was $105 million. Among them, Fidelity FBTC outflow was $57.8 million, and Grayscale GBTC had a net outflow of $16.4 million. The inflow and outflow data of ETH ETF yesterday was almost negligible.

**Goldman Sachs: The Fed is expected to cut interest rates three times by 2025**

On May 5, Goldman Sachs predicted that the Federal Reserve would cut interest rates by 25 basis points in July, September and October respectively, due to the recession risks brought about by tariffs and trade uncertainty. Jan Hatzius, chief economist of Goldman Sachs, said that the Fed's attitude was more cautious than the market expected. Although the Fed's threshold for rate cuts is higher than in 2019, Goldman Sachs believes that rising unemployment may still prompt the Fed to act despite higher inflation.

**Analysis: Bitcoin's strength dampened Altcoin rally hopes**

Matrixport posted on the X platform that over the past year, crypto Twitter has been calling for Altcoin rebounds almost every month, but to no avail. But the Altcoin rebound is not driven by chart patterns or some assumed lag behind Bitcoin's actions. Instead, they rely on the decline of Bitcoin dominance and the rise of total <a href="/price" target="_blank" class="blog_inner_link">crypto market</a> cap. As Bitcoin dominance climbs, <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> underperforms, and few other cryptocurrencies emerge as credible competitors in this cycle. Without a strong alternative narrative or leadership, other cryptocurrencies may continue to lag behind. Our other crypto performance model currently supports this view and remains bullish on Bitcoin.

**Report: If Bitcoin stabilizes at $95,000, the bull market structure is expected to continue**

An institution recently released a report saying, "Bitcoin closed up 14.08% in April, not only surpassing its historical average April performance, but also successfully reversing the deep correction at the beginning of the month. It rebounded from the April low of $74,501 to nearly $98,000, an increase of more than 32%, demonstrating its resilience in the face of macroeconomic turmoil and shifting risk sentiment. Bitcoin’s $95,000 mark, the lower edge of the previous three-month range consolidation, has become a key technical support level. If this level can be maintained, especially when the current price continues to be above the cost price of short-term holders ($93,340), it may lay the foundation for a return to all-time highs.

## Market Trends: BTC re-entered the $9,5000 mark, PARTI 24-hour increase exceeded 35%
### Market Hotspots
PARTI rose above $0.34, with a 24-hour increase of more than 35%. As a token for the <a href="/web3" target="_blank" class="blog_inner_link">Web3</a> creator economy, the token focuses on the decentralized content platform ecosystem, but the token economic model has not yet been fully implemented, and its actual application support capabilities need to be tested.

ICX rose by more than 20%. This token is a representative of South Korea's local public chain. It performed well in the bull market in 2018, but its market popularity and trading activity are still inferior to other mainstream projects, and it is more suitable for the attention of medium and long-term investors.

### Mainstream Coins
BTC continued to fluctuate and re-crossed the $95,000 mark during the session. The latest data showed that BTC's market share briefly exceeded 65%, setting a new high since February 2021. Analysts believe that $95,000 will be an important mark for BTC. If it can stand firm, the bull market still has hope of continuing.

ETH's potential is obviously insufficient. It fluctuated downward against the backdrop of BTC's rebound, falling below $1,800 during the session. The weak inflow and outflow data of ETFs indicate the continued weakness of market attention.

Altcoins rose and fell differently, while sectors such as AI and CeFi rebounded slightly. Analysis pointed out that as BTC's market share increased, the hope of Altcoins breaking out became increasingly slim.

## Macro News: US stocks showed signs of weakness, S&P ended nine-day winning streak
The sharp rally in U.S. stocks showed signs of weakness on Monday. Despite the release of some better-than-expected economic data and the Treasury Secretary's new commitment to a trade deal, the S&P 500 fell 0.6%, ending its nine-day winning streak, while the Dow Jones fell 0.2%, or about 99 points.

On May 5, Eastern Time, data released by the Institute for Supply Management (ISM) showed that service industry activity in April accelerated again after a decline in the previous month, and rising tariffs led to rising raw material prices. The data showed that the U.S. ISM service industry PMI index in April was 51.6, returning to the expansion range (above 50), significantly higher than the expected 50.2, and the previous value was 50.8, which unexpectedly fell to a nine-month low.



<div class="blog-details-info">
<div>Author:**Orisi T.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. All investments carry inherent risks; prudent decision-making is essential.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>


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Daily News | BTC Re-entered the $95K Mark, Analysts Say the Hopes for Altcoins to Explode Are Weakening