GameStop trader’s cryptic return sparks memecoin rally, Bitcoin primed for volatility

The end of the crab-like movement of Bitcoin’s price might be on our doorstep, with analysts predicting the U.S. Consumer Price Index and Producer Price Index coming May 14 and 15 could have a dramatic impact. While most traders are quietly bullish based on the charts, anything unexpected in the U.S. macro data releases or said by Federal Reserve Chair Jerome Powell could knock BTC in either direction. Elsewhere, Tether’s CEO claps back at the Ripple CEO over the comments covered in yesterday’s episode, and memecoins caught a 24-hour rally, but what caused it?

Further reading:

• Bitcoin price shows strength as investors anticipate return of money printing
• Bitcoin bottomed at $56K? BTC price chart hints at breakout within days
• Japanese listed firm adds Bitcoin as reserve asset with 117 BTC
• Bitcoin miner Bitfarms CEO to depart immediately in response to lawsuit
• Tether discredits Ripple CEO comments over US scrutiny
• GameStop sparked the 2021 memecoin bull run — Will history repeat itself?
• Pepe hits all-time high, memecoins soar after famous GameStop stock trader ‘returns’

So, grab yourself a coffee, and let’s get into it!

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