After briefly breaching $97,000, Bitcoin has slipped to around $94,000, retreating from the $98,000 resistance zone as traders brace for potential volatility tied to upcoming macroeconomic announcements.
Analysts link the pullback to rising uncertainty in the broader economy and anticipation surrounding the U.S. Federal Reserve’s next interest rate move, set to be announced on May 7. Though markets widely expect the Fed to hold rates steady, investors are watching closely for signals about the path of future monetary policy.
Despite the recent dip, on-chain data shows continued demand—Bitcoin ETFs brought in $1.81 billion in net inflows last week, highlighting persistent institutional interest even amid price fluctuations.
Technical observers are now focused on two crucial support levels. FxPro’s Alex Kuptsikevich told CoinDesk that $92,500 and $89,000 could serve as near-term floors if the decline continues.
He also warned that falling below the $90,000 threshold could trigger more significant technical damage, including a drop under the 200-day moving average.
For now, Bitcoin remains caught between bullish inflows and a cautious macro outlook, with the next moves likely to be shaped by the Fed’s tone and Jerome Powell’s post-meeting remarks.
Metaplanet has expanded its Bitcoin treasury with a new acquisition of 1,005 BTC valued at approximately $108.1 million, further cementing its status as one of the largest corporate holders of the digital asset.
Despite common fears that global crises spell disaster for crypto markets, new data from Binance Research suggests the opposite may be true — at least for Bitcoin.
A new report by crypto analytics firm Alphractal reveals that Bitcoin miners are facing some of the lowest profitability levels in over a decade — yet have shown little sign of capitulation.
Bitcoin’s network hashrate has fallen 3.5% since mid-June, marking the sharpest decline in computing power since July 2024.