[Aladdin Observations] Bitcoin returned above $100,000 this week, with Wall Street showing caution at the end of the trading week. U.S. stocks and bonds experienced fluctuations as the world's two largest economies prepared to start trade negotiations, leading investors to avoid making higher-risk bets. The market's optimistic sentiment continued to pressure gold prices, which accumulated a decline of nearly 4% over Wednesday and Thursday, but rebounded on Friday, with a total rise of 2.64% last week. Here are the key points the market will focus on in the new week:

On Monday at 22:25, Federal Reserve Governor Cugler will give a speech;

Tuesday 20:30, US April unadjusted CPI year-on-year / adjusted CPI month-on-month / adjusted core CPI month-on-month / unadjusted core CPI year-on-year;

On Thursday at 05:40, 2027 FOMC voter and San Francisco Fed President Daly will participate in a fireside chat.

Thursday 20:30, US April retail sales month-on-month, US April PPI year-on-year/month-on-month, US May New York Fed/Philadelphia Fed manufacturing index;

On Thursday at 20:40, Federal Reserve Chairman Powell delivered the opening remarks at an event;

On Thursday, the Federal Reserve will hold the second Thomas Laubach Research Conference, which will focus on research related to monetary policy and the economy. It is expected to provide an academic perspective for the Federal Reserve's commitment to review its monetary policy framework every five years, until the 16th.

Friday 22:00, US May one-year inflation rate expectation preliminary value, US May University of Michigan Consumer Sentiment Index preliminary value.

This week, the Federal Reserve's stance is not dovish. On Friday, more than half of the policymakers at the Federal Reserve delivered public speeches, and not a single policymaker indicated that the Federal Reserve is close to cutting interest rates. Next week's economic data will provide an important perspective. The U.S. CPI for April, released on Tuesday, will offer new insights into inflation trends, while the retail sales data for April, released on Thursday, will be the latest window into consumer spending. The U.S. April CPI is expected to confirm that price pressures remain too high, and there is currently no reason to cut interest rates. Despite a short-term rise in the dollar index, it still faces selling pressure due to the stagflation risk brought about by ongoing tariffs. Additionally, the impact of macro data on Bitcoin prices, as well as whether Bitcoin can solidify the $100,000 price support range, are also worth following.