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.
Bitcoin price enters a mild 1% on Wednesday April 30, with institutional inflows on the rise, BTC now eyes the $2 trillion market cap milestone.
Bitcoin price breaches $95,000 amid $1B inflows into BlackRock’s
Bitcoin ETF Bitcoin (BTC) surged to a local high of $95,400 on Tuesday April 29, as BlackRock’s iShares Bitcoin Trust (IBIT) recorded a historic $1 billion in daily net inflows.
This marks the largest single-day inflow since the ETF’s January launch and reflects unprecedented demand from institutional investors.
Bitcoin price action | Coingecko
According to data from Coingecko, BTC’s current market capitalization stands just under $1.9 trillion, with many analysts forecasting a breakout past the $2 trillion mark in Q2 if momentum persists.
Bitcoin ETF Flows | Farside
The $970 million inflow into IBIT on Monday, signals growing investor confidence in Bitcoin’s long-term role as a macro hedge and alternative asset.
Notably, Geoff Kendrick of Standard Chartered reiterated also his $120,000 BTC forecast by Q2 2025, citing expanding institutional adoption and macroeconomic fragility as key drivers.
In the long term, he sees the $140,000 mark as attainable if liquidity conditions improve. BlackRock’s dominant role in institutional onboarding has helped BTC become a core portfolio component across global asset managers.
As ETF inflows builds, market watchers expect more upward pressure on prices heading into the Q2, with BTC institutional demand coinciding with weak labor data published on Tuesday.
The crypto market’s bullish tilt aligns with deteriorating macro indicators that could open the door for a potential Fed rate cut.
On April 29, the U.S. Labor Department reported that March job openings fell to 7.2 million—well below the expected 7.5 million. This marks one of the lowest readings since 2021.
United States Job Openings (JOLTs) data, April 29 2025 | Source: TradingEconomics
Simultaneously, the Conference Board’s consumer confidence index dropped for the fifth straight month, hitting its lowest level since January 2021.
Historically, such weak US labor data often triggers Fed to intervene with expansionary monetary policies, which tend to favor risk-on assets like Bitcoin.
This pattern could repeat the increased money supply could propel Bitcoin price towards $120,000 as Standard Chartered analyst Geoff Kendrick predicts.
Looking ahead: What’s next for Bitcoin price in Q2 2025?
BlackRock’s $1 billion IBIT inflow on Monday may be the clearest signal yet that Bitcoin is maturing into a global institutional asset. Coupled with weakening U.S. macro data, Bitcoin price could be on the verge a breakout towards the $2 trillion market cap milestone.
With BTC price already trading above $94,000, it needs only a modest 5–6% push to reach the $2 trillion market cap milestone.
Should corporate investors continue pouring into capital ETFs in anticipation of a dovish Fed, Bitcoin price is likey to surpass the $120,000 price target in the coming week
While regulatory risks, and trade policy shocks still remain active, the unusual corporate inflows suggest’s Bitcoin next all-time high breakout could already be underway.
Bitcoin price is consolidating near $94,200 at press time after testing weekly highs at $95,500 following BlackRock’s $1 billion ETF inflow.
Technical indicators on the Bitcoin price forecast shows the upper Bollinger Band at $98,554, acting as short-term resistance. With BTC price holding well above the midline ($88,979), it reinforces a bullish narrative.
Bitcoin price forecast | Source: TradingView
Beyond that, the Relative Strength Index (RSI) at 65.59 suggests bullish momentum without veering into overbought territory, giving BTC room to push higher.
A decisive close above $95,000 could propel price toward $98,500 in the coming sessions, particularly if institutional inflows persist. Conversely, a break below the midline of the Bollinger Band could open a reversion toward $79,400, the lower band.
Solana memecoin Bonk Inu has completed the purchase of the multichain art marketplace Exchange Art. While the purchase is a surprise for community members, speculators have their eyes peeled on a potential rally for BONK price.
Bonk Inu Completes Exchange Art Acquisition
According to a post on X, Solana-based project Bonk Inu has outrightly purchased Exchange Art. While the announcement did not disclose the figures surrounding the deal, Bonk Inu says it will preserve art on the Solana network.
The acquisition will see the phasing out of Exchange Art’s leadership and replacement with a brand-new team. Internationally exhibited artist JT Liss has been tapped to lead the operations at Exchange Art amid grand plans to improve Solana’s creator economy.
“Bonk has officially acquired the art marketplace Exchange Art,” read the announcement. “The goal? To preserve and elevate the culture around creating, collecting, and appreciating art on-chain.”
Bonk Inu co-founder TheOnlyNom disclosed that the top Solana memecoin will continue Exchange Art’s streak of promoting art in the ecosystem. The co-founder confirmed plans to integrate Exchange Art with the BONK Art Masters initiative.
“It’ll continue to expand the reach of artists creating works on the platform, improving the financial incentives for both creators and collectors,” said TheOnlyNom.
Price To Rally On The Back Of The Acquisition?
At the moment, the BONK price is largely uneventful following reports of Exchange Art Acquisition. It has fallen by 6% over the last 24 hours and currently trades at $0.00001361.
The meme coin indicates no signs of an upswing, with daily trading volumes down by 30% over the last day at $107 million. The dog-themed coin has lost 77% since hitting its previous all-time high, but community sentiment remains enthusiastic.
On the other hand, Solana (SOL) price is up 2% amid frenetic meme coin activity in its ecosystem. On the back of meme coin activity on the network, pundits say SOL can rally 96% to reach $270.
Despite the buzz around dog-themed tokens, Cathie Wood predicts that memecoins will lose value in the coming years.
In a positive development for Coinbase, Alabama has officially dropped its enforcement action against the cryptocurrency exchange. This decision marks a shift in the legal challenges facing the company regarding its staking program.
Currently, only five states continue to pursue legal cases against Coinbase’s staking services.
Alabama Drops Coinbase Lawsuit Over Staking
Alabama’s Securities Commission had accused Coinbase of offering unregistered securities through its staking rewards program. The staking service allows users to lock up their digital assets to help verify transactions on a blockchain network. In return, Coinbase provides rewards to the users, and the company earns a commission for facilitating the process.
State regulators, including those from Alabama, argued that the program was an investment contract that would require registration under securities laws.
We’re halfway there: Alabama just dropped its enforcement action against @coinbase – cutting the number of states with misguided staking suits in half in just two months. 1/3 pic.twitter.com/MWVnl30BTl
While the Alabama case may have been dropped, the crypto exchange still faces legal challenges elsewhere, including in Oregon. A development came from pro-XRP lawyer John Deaton, who sharply criticized Oregon’s Attorney General Dan Rayfield’s stance in the state’s case against the crypto exchange. Deaton questioned the rationale behind the legal action, calling Rayfield’s arguments illogical and potentially harmful to the broader cryptocurrency ecosystem.
Other States Involved in Legal Actions
Several states, including California, Illinois, and Washington, filed the Coinbase lawsuit after a multi-state investigation spearheaded by the U.S. Securities Exchange Commission.
The ten states, including Alabama, brought legal suits against Coinbase for allegedly violating laws governing securities in the states through its staking program. While some have issued cease and desist letters to the crypto exchange, others have threatened to fine the company or have flat out banned the provision of staking services.
However, several states have backed down since then, including the US SEC in February this year. Kentucky, Vermont and South Carolina even dismissed their own cases against the exchange and now this is also the case with Alabama. The exchange’s legal department has continually defended the staking activity, saying it is legal and has acted against such trends.
California, Maryland, New Jersey, Washington, and Wisconsin are the only states still actively pursuing legal action against the company. As Coibase’s Chief Legal Officer says, the legal situation is shifting and he would like to see more states withdraw their actions like Alabama.
Shifting Focus to Federal Regulation
Paul Grewal argued that the current patchwork of state-level regulations on staking services is confusing consumers and businesses in the crypto space. He pointed out that four of the remaining states have imposed complete bans on Coinbase’s staking service. These actions, in his opinion, misallocate taxpayer resources.
“It’s time for these outliers to follow suit,” said Grewal. He stressed the need for a clear, federal regulatory framework for digital assets. With the recent drop of the SEC’s own federal case against the crypto exchange over staking, the focus is now on whether Congress will intervene and create a more unified approach to regulating cryptocurrencies.
Coinbase has long advocated for clearer and more consistent regulations for the crypto industry, which would help provide more certainty to both consumers and businesses. The ongoing legal battles in various states only highlight the challenges posed by the lack of a comprehensive federal framework, which the crypto community await to change under the new US SEC Chair Paul Atkins.
