US Inflation Expectations Rise to 4.8%, Impacting Bitcoin Dynamics
- Rising Inflation Expectations: The one-year inflation expectation in the US for May has increased to 4.8%, up from a preliminary reading of 4.5% and 4.7% last month, indicating that households and traders are increasingly doubtful about inflation returning to the Federal Reserve's 2% target, which may lead to heightened demand for Bitcoin as a hedge.
- Bitcoin's Correlation with Inflation: Research indicates that since 2020, Bitcoin has become more correlated with inflation expectations, behaving more like a high-risk asset rather than a reliable inflation hedge, suggesting that investors may need to reassess their strategies in light of persistent inflation pressures.
- Declining Consumer Confidence: 57% of consumers report that high prices are eroding their personal finances, up from 50% last month, with sentiment among independents and Republicans dropping to the lowest levels of the current presidential administration, reflecting the economic stress impacting market sentiment.
- Complex Macro Environment: Despite rising inflation expectations, analysis suggests that Bitcoin's performance may be influenced by higher real yields and tightening liquidity, leading to increased volatility and risk, prompting investors to approach potential policy changes with caution.
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Technical Analysis for ONDO
Technical Sentiment Analysis for Ondo (ONDO). As of , Ondo (ONDO) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 4 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ONDO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ONDO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ondo (ONDO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.184 | 0.259 | 0.327 | 0.401 | 0.469 | 0.544 | 0.612 |
| Fibonacci | 0.259 | 0.313 | 0.347 | 0.401 | 0.456 | 0.489 | 0.544 |
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