updates

📌 Major Events in May (UTC-GMT) 📌 Thread 🧵 

Economic Events

* 07/05: Federal Funds Rate  - 6 pm
* 07/05: FOMC Press Conference - 6:30 pm
* 13/05: CPI - 12:30 pm
* 15/05: PPI - 12:30 pm
* 28/05: FOMC Meeting Minutes - 6 pm
* 30/05: GDP growth - 12:30 pm
* 30/05: Core PCE - 12:30 pm

Crypto Events

- 04/05: QuaiNetwork airdrop 
- 05/05: $IOTA mainnet upgrade includes Smart contracts, decentralization and RWA tech
- Trumps 60 day executive order on Bitcoin Strategic Reserve expire
- Hyperliquid $HYPE trading system update
- Shardeum $SHM TGE 
- Kaspa $KAS hardfork
- $ENA unlocks $50M - Already at a major support area $0.21–$0.27 range, may open a long position at this level or wait for a breakout above $0.364
- ThorChain $THOR launches a new token
- 06/05: $CSPR Casper 2.0 upgrade is going live
- 07/05: Quill Finance launches on Scroll mainnet
- Ethereum $ETH Pectra upgrade hit the mainnet 
- 10/05: $TON Toncoin Bridge is retiring
- 11/05: $LAYER unlocks $78M - It's already up a lot 200% since the TGE so I'm not longing this. I may short if we break the $2.822 area

Expected:

- Zksync $ZK update/announcment
- Illuvium $ILV Beyond Wave 4 release
- Chiliz $CHZ Major product launch

Market Overview:

The market is still on track and following a bullish path.
Pectra upgrade on the Ethereum mainnet is coming soon which could reduce selling pressure on ETH as mentioned in our latest report and be bullish in the long term.
We also have the 60 day executive order on the Bitcoin Strategic Reserve expiring on 5/5. If we get approval we could see a major spike in the crypto market especially if another altcoin ETF is announced soon
Tariffs (the buy the dip event we mentioned earlier) don't seem to be affecting the market anymore. It looks like the market has gotten used to them which is good news maybe the worst is behind us now.
Also several countries have started selling off US Treasuries, which appears to have pressured Trump into easing and changing his stance. We’re now seeing the US signing deals with many countries
We have a rate cut decision coming this month. Another pause is expected and a rate cut is anticipated next time as previously mentioned which is very bullish for the market

Now that BTC has reached the first target at the $98K resistance level we expect a slight correction followed by continuation to the upside toward the next targets
Overall the market remains in bull mode and we expect this to continue for a while

$TOTAL: it did well as expected, still on the track and broke through the resistance (the pattern was double bottom) 

$DXY: Following the projected plan and has broken through multiple support levels

$SPX: had a historic run, breaking all time highs. The current chart remains neutral until a breakout above $6K with key support at $5.8K. A confirmed bullish pattern could be forming soon

- 12/05: $APT unlocks $60M - Still holding the previous long position as it's sitting at support
- 14/05: VanEck to launch crypto related investments ETF exchange
- 15/05: Coinbase delists $MOVE
- eCash Network upgrade
- 16/05: Terra loss claims form closes
- 19/05: CME Group is set to launch $XRP futures contracts
- $PYTH unlocks $300M - May go for a long position if we break through the $0.167 area or reach $0.10
- 20/05: Zilliqa $ZIL mainnet upgrade
- 22/05: Trump scheduled dinner with the top 220 $TRUMP holders
- 29/05: MilkyWay Massdrop claims closes 
- 30/05: $FTT FTX - second round of repayments to creditors 
- 01/06: $SUI unlocks $150M - Will go long if we break the $3.58 area