The “technical picture in BTC remains poor, in spite of a less hawkish Powell, BTC failed to regain 40,000, hence this pull back,” Teong Hng, chief executive of crypto investment firm Satori Research, told Bloomberg.
On Fed day, May 4, “this was the greatest upside-day for the S&P 500 on a Fed rate hike day since Nov 1978,” according to a Twitter post by market analyst Michael Goodwell.