Trump on US Q1 GDP Negative Growth: This is Biden's Stock Market, Tariff Policy Will Bring Prosperity

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.

On May 1st, according to HTX market data, due to the news of being listed on Coinbase, Worldcoin (WLD) saw a short-term surge. It broke through $1.12 and is currently trading at $1.093, with the 24-hour decline narrowed to 0.54%.

On May 1st, Ethena Labs declared that they are going to carry out the third season of ENA airdrop distribution. This will commence on May 1, 2025, at 16:00 (UTC). 3.5% of the total ENA supply will be set aside as rewards for the third quarter. There will be no period for eligibility verification, and the distribution will happen promptly on May 1st.