Here are five things to know about Bitcoin this week ¹ ² ³:

- *BTC price: It’s all about $60,000*: The price of Bitcoin is hovering above $60,000, which is a critical level for bulls. A weekly close above this level is crucial for bulls to maintain momentum.

- *CPI hits as Fed’s Powell due to speak*: The Consumer Price Index (CPI) data will be released on May 14, which could impact the price of Bitcoin. The CPI data will be closely watched by investors, as it could influence the Federal Reserve's decision on interest rates.

- *Long-term holders halt 2024 BTC distribution*: Long-term holders of Bitcoin are increasing their exposure to the cryptocurrency, which could be a positive sign for the market.

- *Funding rates reset endures across crypto*: Funding rates for Bitcoin and other cryptocurrencies have reset, which could indicate a period of low volatility.

- *Fear and indecision*: The Crypto Fear and Greed Index is at 57/100, which indicates a neutral reading. The index is a sentiment gauge that measures impulsive tendencies among crypto traders, with extreme readings suggestive of a knee-jerk reversal in the market.