The US first-quarter Core PCE Price Index annualized quarter-over-quarter rate posted a preliminary reading of 3.5%, reaching a new high since the first quarter of 2024.

On May 1st, US President Trump stated that the currently brewing "Big Beautiful Bill" might potentially be "even more significant than tariffs." Trump praised Senate Majority Leader McConnell for his efforts on the legislation and added that Democrats were "attempting to block it at every turn." He warned that "if they succeed, it will lead to a 58% tax hike." Trump reiterated that the proposed spending bill would constitute the "largest tax cut in US history." (Golden Finance)

On May 1st, President Trump of the U.S. said to Musk, "You can remain here as long as you desire." Trump stated that Musk has been of great assistance and has been treated unjustly, and Musk wishes to return to his car business. (FXStreet)

On May 1st, according to TheBlock, following the release of US macroeconomic data on Wednesday, Bitcoin once dropped below the $94,000 level, with an intraday decline of 1%. Major altcoins such as Ethereum and Solana also fell in unison, and the total cryptocurrency market capitalization contracted by nearly 4%. The US economy contracted by 0.3% in the first quarter, which was lower than the expected growth of 0.2%. The year-on-year core PCE in March increased by 2.6%, in line with expectations but lower than the revised value of 3.0% in February. In April, ADP nonfarm payrolls added 62,000 jobs, a significant decrease from the 147,000 in March. 21Shares crypto investment expert David Hernandez pointed out: "Federal Funds futures indicate that the market currently expects the Fed to cut interest rates more than 4 times this year. Against the backdrop of simultaneous signals of decelerating inflation and economic recession, policymakers' balancing act will be crucial to the market tren

On May 1st, US President Trump said that there would soon be a "beautiful and significant law" which might be even more substantial than tariffs. Regarding the trade agreement, Trump declared that he thought they were progressing very well. (Golden Finance)

On May 1st, according to the analysis by The Kobeissi Letter, the expectations of the U.S. consumer economy have dropped to a crisis level: the Consumer Confidence Index has plummeted by 8 points and fallen to 86 points in April, which is the weakest level since May 2020. This also marks the fifth consecutive month of decline, with confidence declining across all age groups and most income brackets. Of concern is that consumers' expectations for the next 6 months have dropped by 13 percentage points to 54 points, the lowest level since October 2011. According to the data from the Conference Board, a reading below 80 usually indicates an impending economic recession. Americans are more pessimistic about the future of the economy than ever before.

On May 1st, Coinbase will commence providing support for Mantle (MANTLE) on the Ethereum network. Trading will initiate on May 1st, 2025, at 9 a.m. Pacific Time. If liquidity conditions are fulfilled, it may be later. Once a sufficient asset supply is established, the MANTLE-USD trading pair will be launched in stages.