The much-anticipated March PCE inflation data has come out in line with expectations, leaving market participants wondering about the Federal Reserve’s next move. This inflation metric is the Fed’s most preferred inflation gauge and suggests that Chair Jerome Powell and the FOMC will likely keep rates unchanged at the May meeting.
US PCE Inflation Data Comes In At 2.3%
U.S. Bureau of Economic Analysis data show that the March U.S. inflation data came in at 2.3% year-over-year (YoY), in line with expectations, and 0% month-over-month.
Meanwhile, the core PCE data came in at 2.6% YoY, the lowest since June 2024. This development is significant as this data is what the Fed uses as its primary inflation gauge and could determine its decision at the May FOMC meeting.
With the PCE inflation data stalling, Powell and the FOMC look unlikely to cut interest rates at the May meeting holding between the 6th and 7th.
USDC issuer Circle has secured in-principle approval from Abu Dhabi’s financial regulator. This move marks a key step for the fintech giant in expanding its presence across the Middle East and Africa (MEA). Besides, the approval also highlights the UAE’s role as a leading hub for regulated digital finance innovation.
USDC Issuer Circle Wins Major Approval In Abu Dhabi
The stablecoin issuer revealed that it had received initial regulatory clearance from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). The FSRA approval allows the company to progress toward a full Financial Services Permission (FSP) to operate as a money services business in the UAE.
This marks a major step forward for the USDC issuer, which was formally incorporated in ADGM in December 2024. CEO Jeremy Allaire highlighted the UAE’s openness to regulated innovation. He stated the country is becoming a global model for building a resilient Internet financial system.
Meanwhile, Allaire said this approval helps the fintech firm to build lasting ties in markets that support blockchain-based finance. He also emphasized the firm’s long-term commitment to compliance and transparency, stating that regulatory clarity can drive meaningful innovation.
Dante Disparte, Circle’s Chief Strategy Officer, echoed this sentiment. He said the move is not just a regional milestone but a strong global message that oversight and innovation can go hand-in-hand. According to Disparte, the firm’s infrastructure is designed to support the safe adoption of stablecoins worldwide.
ADGM also welcomed the development. Arvind Ramamurthy, its Chief of Market Development, said the company’s approach fits perfectly with ADGM’s goal to become a global fintech hub. He noted that Circle’s presence will boost the growth of future-ready financial services across the region.
New Collaboration To Boost Fintech Innovation
In addition to the regulatory win, Circle announced a strategic tie-up with Hub71, Abu Dhabi’s global tech ecosystem. The two plan to collaborate on programs inside ADGM’s digital sandbox.
This includes grants, mentorship opportunities, and access to venture capital for startups working in Web3 and digital assets. The fintech firm will also become a part of Hub71’s digital assets network, connecting with over 500 startups and global investors.
Meanwhile, this news follows Circle’s launch of a global payment network last week. The move sparked speculation that the stablecoin issuer may be gearing up to compete with Ripple in the cross-border payment space.
Besides, the broader stablecoin market has also gained notable traction recently. This comes as analysts at Citigroup project the stablecoin market could reach $1.6 trillion by 2030. A recent Bitcoin price analysis also showed that BTC could hit $475K if this Citigroup prediction holds true, reflecting how the stablecoins might influence the market trajectory.
Shiba Inu (SHIB), the popular dog-themed meme coin, is making waves with its recent price momentum following the formation of a bullish price action pattern on the daily time frame. The past few days have been favorable for the meme coin, as it has broken out from a descending trendline that acted as a resistance level and further confirmed a breakout from a bullish inverted head and shoulders pattern.
SHIB Technical Analysis and Upcoming Levels
Following the breakout, SHIB turned bullish, partially shifting its market sentiment from a downtrend to an uptrend. According to CoinPedia’s technical analysis, if Shiba Inu’s price continues to rise and closes a daily candle above the $0.0000138 level, there is a strong possibility that the meme coin could surge by 45% to reach the $0.000020 level in the future.
Despite this positive development, Shiba Inu remains below the 200 Exponential Moving Average (EMA) on the daily time frame, keeping the meme coin in a downtrend.
As of now, SHIB’s Relative Strength Index (RSI) stands at 55, indicating strong momentum for the meme coin and suggesting that it has enough room to rise significantly.
Shiba Inu (SHIB) Current Price Momentum
At press time, SHIB is trading near $0.0000139, registering a price surge of over 2% in the past 24 hours. Meanwhile, the meme coin’s trading volume has increased by 6% during the same period, indicating heightened participation from traders and investors compared to the previous day.
Key Liquidation Levels
With this bullish price action, intraday traders appear to be strongly betting on the long side, as reported by the on-chain analytics firm Coinglass.
Data reveals that traders are currently over-leveraged at $0.0000132 on the lower side and $0.00001413 on the upper side, having built $1 million in long positions and $270.50K in short positions.
Additionally, this over-leveraged level suggests that bulls are currently dominating the asset and could support the meme coin in its upcoming rally.
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Shiba Inu (SHIB), the popular dog-themed meme coin, is making waves with its recent price momentum following the formation of a bullish price action pattern on the daily time frame. The past few days have been favorable for the meme coin, as it has broken out from a descending trendline that acted as a resistance …
Bitcoin (BTC) is down 6% over the past eight days after reaching new all-time highs, and recent technical signals suggest growing uncertainty in the market. Whale activity, which briefly declined, has started to recover, hinting that some large holders may be returning to accumulation.
However, bearish indicators are mounting, with the Ichimoku Cloud showing weakness and BTC trading below key support levels. As price hovers just above $104,584, the threat of another death cross and deeper downside remains unless bulls can reclaim momentum above resistance.
Bitcoin Whale Count Rebounds After Strong Decline
The number of Bitcoin whales—addresses holding between 1,000 and 10,000 BTC—has rebounded slightly to 2,006 after falling to 2,002 earlier this week.
This brief dip followed a sharper decline from 2,021 on May 25, marking a notable short-term reduction in large holders. However, the recovery suggests that some whales may be returning to accumulation.
While the fluctuation was small, such changes are closely monitored, as they often precede shifts in market sentiment or price action.
Monitoring whale behavior is essential due to their outsized influence on Bitcoin’s liquidity and volatility. A decline in whale count can indicate profit-taking or distribution, often signaling caution or a potential market cooldown.
Conversely, a stabilization or rise—like the one observed now—can ease investor concerns and support price resilience at elevated levels.
The number of large holders recovering after a sharp drop may signal renewed confidence among key players, reducing the immediate risk of heavy selling pressure and helping Bitcoin maintain its current range.
Technical Indicators Turn Bearish as BTC Struggles Below Key Levels
The Ichimoku Cloud chart for Bitcoin shows a short-term bearish structure.
Price action is currently positioned below the Kumo (cloud), which is shaded in green and red—indicating that Bitcoin is trading in a zone of weakness relative to historical and projected momentum.
The cloud ahead is red, suggesting that the trend bias for the near future remains bearish unless a reversal breaks through the upper boundary.
The Tenkan-sen (blue line) is below the Kijun-sen (red line), confirming short-term downward momentum. Both lines are angled downward, another bearish signal.
The Chikou Span (green lagging line) is below both price and the cloud, reinforcing that current momentum lacks bullish confirmation.
The future cloud also narrows, which may hint at a potential equilibrium or a consolidation zone ahead. For now, the Ichimoku components align with a bearish outlook. A bullish shift would require the price to break above the cloud and flip the future Kumo from red to green.
Bitcoin Faces Potential Death Cross
Bitcoin price recently formed a death cross, and technical indicators suggest another one could be on the horizon. Price is currently trading just above critical support at $104,584, which has acted as a short-term floor.
If this support fails, the next downside targets sit at $102,135 and potentially as low as $100,694 if the selling pressure intensifies.
The presence of back-to-back death crosses, combined with weakening price action near these levels, raises the probability of a deeper correction in the short term.
On the bullish side, if Bitcoin can mount a recovery and establish strong momentum, it may retest resistance at $106,726.
A break above this level could trigger a sharper move toward $110,728, with a further upside possibility of reaching $112,000 if the rally accelerates.
