Bitcoin Nears $100K as FOMC Looms—Can Bulls Break the Psychological Barrier?
Bitcoin surges to $97,000—just shy of the six-figure milestone—as traders brace for the Federal Reserve’s next move. The FOMC announcement could make or break this rally, with institutional sharks already circling the waters.
Market psychology vs. macro reality: Crypto’s latest pump ignores traditional finance’s favorite party-pooper (hint: it rhymes with ’schminflation’). Will BTC’s momentum defy gravity, or is this another ’buy the rumor, sell the news’ setup? Either way, Wall Street’s risk desks are suddenly very interested in your ’magic internet money.’
Today is expected to be highly volatile for the crypto market 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.
