Three tests land in a week. The first is jobs data, with the April payrolls printing coming up, the first reading after a delay caused by the 2025 federal shutdown.
A weaker than expected figure allows the Federal Reserve to reduce its coverage sooner. A fort delays him. The second is additional insight into Bitcoin Treasury trading.
Strategy, Coinbase, MARA, CleanSpark, Hut 8 and Core Scientific all report their first quarter results this week. Riot has already sold 3,778 BTC last quarter for an average price of $76,626. MARA sold 15,133.
The third is the Fed itself. San Francisco Fed CEO and President Mary Daly and Chicago Fed President Austan Goolsbee speak on central bank independence to Hoover on Friday, the same week that Jerome Powell is stepping down as chairman (but not the Fed itself) under pressure from the White House.
“Investors are not strongly positioned and volatility remains low, creating an asymmetric setup: Markets appear stable on the surface but could react quickly to any catalyst that forces a reassessment of risk,” Jennifer Hanny, partner at Echo Base, told CoinDesk.
What to watch
(All times ET)
- Cryptocurrency
- May 4: Coinbase will delist dai (DAI) and convert remaining tokens to USDS.
- May 4: ZKsync Lite will be completely deprecated.
- Macro
- May 4, 11:30 p.m.: Reserve Bank of Australia interest rate decision is. 4.35% (previous 4.1%)
- May 5, 9:00 a.m.: US JOLT job offers for March (previous 6.882 million)
- May 5, 9:00 a.m.: US ISM services PMI, est. April 54 (previous 54)
- May 6, 4:00 a.m.: Euro zone producer price index over one year for March (previous -3%); MoM (previous -0.7%)
- May 6, 7:15 a.m.: change in ADP employment in the United States for April (previously 62,000)
- May 6, 6:50 p.m.: Minutes of the Bank of Japan monetary policy meeting
- May 7, 7:30 a.m.: First unemployment claims in the United States for the period ending May 2 (previous 189,000)
- May 7, 3:30 p.m.: Balance sheet of the US Fed for the period ending May 6 (previously $6,700,000 billion)
- May 8, 7:30 a.m.: Unemployment rate in Canada for April (previous 6.7%)
- May 8, 7:30 a.m.: US nonfarm payroll numbers for April est. 73,000 (previous 178,000)
- May 8, 7:30 a.m.: US unemployment rate for April est. 4.3% (previous 4.3%)
- May 8, 7:30 a.m.: Average hourly earnings in the United States in monthly terms for April est. 0.3% (previous 0.2%); YoY (previous 3.5%)
- May 8, 9:00 a.m.: Michigan U.S. Consumer Sentiment Report for May (previous 49.8)
- May 8, 6:30 p.m.: The presidents of the US Fed, Mary Daly and Austan Goolsbee, will participate in a conference on “Independence, structure and future risks for central banks”.
- Earnings (Estimates based on FactSet data)
- May 5: Strategy (MSTR), Post-Market, -$12.95
- May 5: PayPal Holdings (PYPL), pre-market, $1.27
- May 5: Cipher Digital (CIFR), pre-market, -$0.08
- May 5: MARA Holdings (MARA), post-market, -$0.45
- May 6: Cabane 8 (HUT), pre-marketing, -$0.34
- May 6: Core Scientific (CORZ), post-market, -$0.04
- May 7: Coinbase Global (COIN), post-market, $0.26
- May 7: Block (XYZ), post-market, $0.60
- May 8: TeraWulf (WULF), pre-market, -$0.19
- May 8: CleanSpark (CLSK), post-market, -$0.23
Token Events
- Votes and calls on governance
- Lido DAO is voting on an urgent proposal to temporarily lower the EarnETH first loss protection trigger below the standard 1% threshold, ensuring full compensation to users if the rsETH shortfall is resolved via DeFi United. Voting closes on May 6.
- Beefy DAO votes to authorize its Treasury Board to conduct private, discretionary redemptions of BIFI whenever the token’s price falls below its calculated “fair value.” Redeemed tokens will be retained as non-circulating supply. Voting closes on May 6.
- World Liberty Financial votes to restructure acquisition of locked WLFI tokens. Early supporters will receive a 4-year vesting schedule, while insiders will be required to burn 10% of their allocation and agree to a 5-year investment. Voting closes on May 6.
- Arbitrum DAO votes to release 30,766 ETH frozen by its Security Council after Kelp DAO exploit on DeFi United recovery fund. Voting closes on May 7.
- CoW DAO is voting on whether to use its legal defense reserve to reimburse users who lost $1.2 million when the cow.fi domain was hacked on April 14. Voting closes on May 7.
- Mantle DAO votes to lend up to 30,000 ETH to Aave in the form of a 36-month structured credit facility, pegged to Lido’s stETH staking yield plus a 1% spread, as part of DeFi United’s rsETH recovery. Voting closes on May 8.
- Unlocks
- May 5: Ethena (ENA) will unlock 2.12% of its circulating supply worth $17.34 million.
- May 6: Hyperliquide (HYPE) will release 0.18% of its circulating supply worth $17.5 million.
- Token Launches
- May 5: A snapshot of the Virtual Protocols OPG drop should take place.
- May 8: SoSoValue’s final testnet airdrop should be complete.
- May 4-10: BNB’s 35th quarterly burn is scheduled to take place.
