Bitcoin traded in a tight band near $77,000 during U.S. morning hours as markets waited for Kevin Warsh's transition to Federal Reserve chair. The University of Michigan's May consumer sentiment slipped to a record-low 44.8, while 1-year inflation expectations rose to 4.8% and the 5-year measure to 3.9%. Rate markets were pricing in more than a 70% chance of at least one hike by end-2026.