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Bitcoin Price Outlook for May

May 15, 2023


At the halfway point of May, bitcoin has fallen to a two-month low, as market sentiment shifted bearish, following April’s strong gains.

With several key data points all being released in a short window, it was somewhat expected that price uncertainty would be present.

The Fed increased interest rates by 25 basis points, days after non-farm payrolls rose to 253,000, versus expectations of 180,000.

Since then, inflation fell to 4.9% in April, with many still uncertain as to what the Federal Reserve will do during June’s meeting.