News
  • Nidhi Kolhapur
    author-profile

    Nidhi Kolhapur right arrow

    Author

    Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

    • author facebook
    • author twitter
    • linkedin

  • 1 minute read

Bitcoin Price Hits $97K: Can It Break $100K Before FOMC Announcement?

  • currency-symbol BTC $ 96,877.56 (2.81%) top gainer
Story Highlights
  • Bitcoin nears key resistance as markets await the Fed's rate decision and possible end to Quantitative Tightening.

  • Trade talks and easing tensions with China boost crypto sentiment, with altcoins turning green ahead of the FOMC meeting.

Today, the crypto market is expected to be highly volatile as all eyes turn to the U.S. Federal Reserve’s upcoming policy decision. The Federal Open Market Committee (FOMC) is holding its scheduled meeting on May 6–7 to assess the economic outlook and understand the future of U.S. interest rates. The FOMC, led by Chair Jerome Powell will announce its decision at 2 PM Eastern Time on May 7 (11:30 PM IST).

Initially, there were expectations of a full percentage point of cuts due to concerns over Trump tariffs. But now they expect a smaller 0.75% cut for the year. Powell has repeatedly said that the Fed needs to wait for clarity on Trump’s policies before making any decision. 

Some analysts also believe the Fed could signal the end of Quantitative Tightening (QT), a policy that has been draining liquidity from markets since 2022. Treasury Secretary Scott Bessent will meet Chinese officials in Switzerland this weekend to discuss any possible tariff changes.

As the US and China are looking to ease the ongoing trade tensions, Bitcoin has already started climbing again, reaching around $97,000, and many altcoins are turning green as traders prepare for possible positive news. Although Bitcoin dominance remains high—now above 65%, this could shift soon, opening the door for altcoin season.

Bitcoin Price Prediction Today:

Bitcoin is showing signs of recovery, and the price is now approaching a resistance zone between $96,100 and $97,400. If Bitcoin can hold above $95,300, the upward trend could continue, possibly forming a stronger move higher.

So far, the current bounce is looking good, but it’s too early to confirm a full trend reversal. A pullback could still happen, and how the price reacts next will help confirm whether this recovery continues or if more downside is coming.

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQs

Why is Bitcoin price up today?

Bitcoin price is up due to trade policy news, treasury adoption in New Hampshire, and $55M in short liquidations.

Why is Bitcoin price rising before the Fed meeting?

Bitcoin is climbing on hopes of a dovish Fed stance and easing U.S.-China trade tensions.

Is this the start of an altcoin season?

With Bitcoin dominance above 65%, altcoin season hasn’t started yet, but a shift could occur if capital moves into alternative cryptocurrencies.

Show More

Related Articles

Back to top button