The Senate Banking Committee, in all their bureaucratic glory, has penciled in a markup for Thursday, May 14, at 10:30 a.m. ET. Yes, while you’re sipping your third coffee, they’ll be deciding the fate of crypto. How thrilling! This would be the first time a full U.S. crypto market structure bill gets a committee vote. Cue the confetti… or the panic, depending on who you ask.
Solana, that flighty flirt, began a dalliance with the $88 zone, only to rise, like a phoenix from the ashes, above the $92 level, entering a short-term positive zone, where all is right with the world.
This pronouncement arrives as the long, grim shadow of the US-Iran conflict stretches over markets, and inflation, like an obstinate peasant, clings to prices with a stubborn grip, threatening to pull down the 2% target, that pale star of policy, as if it were a poor lantern in a gusty corridor.
Key Takeaways:
This week, the gods of finance demand their sacrifices: Tuesday’s CPI, Wednesday’s PPI, and Thursday’s retail sales. OPEC’s monthly tome and Powell’s final bow as Fed Chair add to the spectacle. Yet, amidst this carnival of numbers, it is Trump’s tirade against Iran that injects a note of absurdity into the proceedings.
Behold, this asset has surged from a modest $1.42 to nearly $1.50, a triumph not seen since April, when it was alas, rebuffed at the same price, and spent weeks languishing in mediocrity. How fickle the market, one might sigh!
Key Takeaways:
Key Takeaways (or as I like to call them, “The CliffsNotes for the Crypto-Curious”):
The price moved. That part nobody disputes. But what the chart is saying about that move? A tale of two wolves, one hungry, one sated, both wearing tuxedos.
Yet the astrologers of charts confess that the real test for a bullish reversal still lies ahead, like a winter that refuses to surrender its soup of frost.
