Driven by improving macro sentiment and Bitcoin's breakout, short-term bullish momentum of WAXP is emerging. Currently, support at $0.0066 is holding; if volume continues, the target is $0.0070. The key is whether Bitcoin can stabilize above $75,000. If it retraces, watch the $0.0065 defense line. It is recommended to pay attention to the trend of major coins and capital movements, plan positions reasonably, and strictly control drawdown risk.

The latest US PCE data shows core inflation in line with expectations, alleviating concerns about aggressive Fed rate hikes and making overall crypto market sentiment cautiously optimistic. Against this backdrop, WAXP price has been fluctuating between $0.0065 and $0.0066 since April 9, with trading volumes relatively steady, reflecting that short-term capital's wait-and-see attitude toward macro uncertainties has eased somewhat, but the risk-on mode has not fully returned.

The latest US PCE inflation data met expectations, easing market uncertainty and stabilizing Bitcoin around $73,000. Core PCE rose 3% year-on-year and 0.4% month-on-month. Despite easing US-Iran tensions, potential energy price impacts remain unreflected. Investors remain cautious about Fed rate cuts. Economist Mohamed El-Erian highlights upcoming CPI data as more critical amid oil price volatility. Analyst Michaël van de Poppe maintains an $80,000 Bitcoin target if key support holds.

Analysts maintain an $80K Bitcoin target as PCE inflation data boosts market sentiment.

With Bitcoin recently breaking a four-week high and approaching the key $75,000 resistance, market risk appetite was unleashed. Historically, significant rebounds in major coins often drive small- and mid-cap tokens to follow suit. WAXP also saw obvious volume-driven gains from April 14 to 16. During this period, buying was concentrated between $0.00675 and $0.00697, with short-term bullish momentum heating up, indicating investor enthusiasm for WAXP returning amid chasing sentiment.

On the daily chart, WAXP has been consolidating sideways since late March. Recently, the price has been continuously holding above the 20-day moving average. The current short-term support is near $0.0066; if this level holds with sustained volume, the next step may be to test the $0.0070 level. If Bitcoin can continuously hold above $75,000, WAXP's upward momentum may continue; otherwise, if it falls back, beware of the risk of losing support at $0.0065.

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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