Global Market Highlight

Economic data from May 2025 presents a mixed picture for the U.S. economy. Initial jobless claims fell slightly to 227,000, just below expectations, while the four-week moving average edged up to 231,500. Meanwhile, the S&P Global Manufacturing and Services PMIs both rose to 52.3, indicating a return to expansion driven by stronger domestic demand and business confidence. 

However, the sharpest drop in foreign orders outside the pandemic period, linked to ongoing tariffs and unpredictable policy, reflects mounting external pressures. These concerns are echoed in financial markets, where investors have begun a broad sell-off of U.S. Treasury bonds amid rising fears over the country's fiscal health. 

President Trump’s sweeping tax-and-spending proposal, projected to add $3.8 trillion to the national debt, combined with a weak bond auction and a Moody’s downgrade, has further shaken confidence. As yields surge and safe-haven status erodes, the situation underscores the urgent need for clearer fiscal direction to stabilize markets and sustain growth.

US Extends Tariff Talks Deadline with EU to July 9, 2025

President Donald Trump has agreed to extend the deadline for tariff negotiations with the European Union to July 9. The decision comes after threats to raise import tariffs on EU goods to 50% starting June 1 due to slow progress in talks. The move followed a “very good” phone call with European Commission President Ursula von der Leyen, who welcomed the extension and said the EU is ready to speed up negotiations.

Trump has long criticized the US-EU trade relationship as unfair, especially in the automotive and agricultural sectors. While some tariffs were suspended to allow room for talks, the 25% tariffs on EU steel and aluminum remain in place. The EU has paused its retaliatory tariff plans for now but is still considering further actions if negotiations fall through.

BTC Technical Analysis

Bitcoin is currently in a strong uptrend, forming consistent higher highs and higher lows since early April. The upward-sloping trendline (purple dotted line) has been respected multiple times, indicating ongoing bullish momentum and strong buyer interest.

Currently, the price is hovering around 109,600 USDT, with the recent high at 111,980 USDT. Despite some minor pullbacks in recent candles, the latest daily candle shows a long lower wick, indicating strong buying pressure and rejection of lower prices. As long as the price stays above the ascending trendline and doesn’t break below the 105,000–106,000 USDT support area, the bullish structure remains intact.

The medium-term outlook for Bitcoin remains bullish. If support holds, BTC could potentially target the next resistance zones near 115,000 and 120,000 USDT. However, caution is advised if the price breaks the trendline or if upward moves begin to lose volume and momentum.

ETH Technical Analysis

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Ethereum is showing a strong bullish breakout structure after a prolonged accumulation phase between approximately $1,750 and $1,850 (marked by the purple horizontal support zone). After multiple failed attempts to break below that range, ETH finally surged with a powerful bullish candle in early May, signaling the start of a new upward trend.

Currently, ETH is trading around $2,561, the structure remains bullish, with the potential for continuation toward the next psychological resistance levels around $2,800. However, if the price fails to break out and falls below $2,400 with high volume, short-term caution is warranted. For long-term holders, maintaining a position while monitoring support levels is advisable as long as the overall uptrend remains intact.

SOL Technical Analysis

Solana is maintaining a clear bullish market structure, characterized by consistent higher highs and higher lows. The price is currently trading at $176.73 and is respecting a rising dotted trendline, which has served as dynamic support since mid-April. As long as SOL holds above the $174 level and respects the ascending trendline, bullish momentum remains intact.

The key level to watch is around $164; a breakdown below this level would indicate potential trend exhaustion. However, as of now, the price action supports a bullish continuation toward $200 in the medium term. The long-term outlook remains constructive as long as SOL stays above its key support zones and maintains the current trend trajectory.

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Disclaimer:
This material is for general information and is not investment advice, a recommendation, or a solicitation to buy and sell any cryptocurrencies, digital assets, securities, or derivative instruments, or to make any investments. Any opinions or estimates are the best judgment of the research team as of the date of preparation and are subject to change without notice. Mobee is not obligated to update this report based on information and events that occurred after this report was created and published. Any suggestions or recommendations in this report may not be appropriate for certain users.

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