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Crypto markets may be impacted by two significant economic developments this week. After showing signs of strength last week, Bitcoin is currently in a temporary stop. However, a shift in the market's momentum can provide Bitcoin and other cryptocurrencies a brief lift.

What Can We Anticipate From the Upcoming Macro-Economic Happenings?

On May 1 at 18:00 GMT, the US Federal Reserve will announce its decision on interest rates. This usually causes volatility in the forex markets, but it has little effect on the cryptocurrency markets these days. The expectation that interest rates will remain stable between 5.25% and 5.50% for a considerable amount of time may be one explanation for this.

After the May policy meeting, there is a 97.3% probability, according to the FedWatch Tool, that interest rates will remain unchanged. This implies that there won't likely be any abrupt ups and downs for Bitcoin.

What Should We Anticipate in Terms of Bitcoin’s Performance?

The price of bitcoin is consolidating, with equal lows and lower highs occurring slightly above the weekly imbalance, which runs from $53,120 to $59,111. 

As previously said, a decline into the aforementioned zone presents a favorable purchasing opportunity for a scenario with a higher possibility of reversal. Neither are there any signals to purchase Bitcoin at this moment, even when looking at shorter time periods like the hourly chart. 

Usually, there is a bullish divergence observed on shorter time frames before the larger time frames begin to exhibit signs of improvement. On the one-hour chart, however, this is not the case for Bitcoin, indicating that it may decline lower before investors find it desirable to purchase BTC.

There's a chance that when the week commences, there will be a sharp rise in selling pressure that drives the price of Bitcoin into the previously indicated imbalance zone. This may be an opportunity for investors to purchase Bitcoin at a discount. In light of this, investors should watch for an opportunity to purchase the early-week decline, which may result in a subsequent increase.

Final Words 

Meme coins have taken notice of Bitcoin's recent period of stability and have responded accordingly. Following a low point during the third week of April, Bonk (BONK) saw a more than twofold increase in value. In the same way, double-digit improvements were substantial for Shiba Inu (SHIB).

Crypto trading can be a bit risky and it requires assistance from relevant tools that can help you make the most out of your efforts. This is where the Alpha AI trading bot comes into play as it can provide you with the right tools and software to carry out fundamental and technical analysis. This will help you make the right decisions without making any mistakes. 

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