This week, all eyes are on the US macroeconomic developments, with a slew of updates expected to captivate global attention. Federal Reserve Chairman Powell's speech and the Consumer Price Index (CPI) data are particularly significant, as they may hint at future interest rate changes.

Powell's speech on May 14 will be closely watched for clues on the Fed's next move, as markets have shown extreme sensitivity to his tone. The CME Group's FedWatch Tool indicates that investors see little chance of a rate cut in June, but this probability increases in September.

Meanwhile, crypto markets remain neutral, with funding rates unaffected by near-term price movements.Bitcoin's price movements have been contained within a set corridor, but volatility is evident elsewhere in the crypto market.

The Crypto Fear and Greed Index has fluctuated between different states this month, currently standing at a neutral 57/100. Research firm Santiment has linked the decline in Bitcoin's on-chain activity to investors' fear and indecision, with total on-chain actions dropping to levels last seen in 2019.