Bitcoin Hovers Below $100K as Market Awaits Fed Signals

Bitcoin (BTC) is currently trading at approximately $93,886 as of May 6, 2025, reflecting a marginal 0.1% decline over the past 24 hours. The cryptocurrency has been consolidating just below the crucial psychological barrier of $100,000, with intraday fluctuations between $93,702 and $95,118.

Technical indicators present a mixed but stable outlook. Resistance is clearly established at $98,000 and $100,000, with the latter viewed as a pivotal breakout point. Should Bitcoin breach this threshold decisively, analysts project a potential rally toward $107,000. Conversely, downside support remains firm at $92,000, with a stronger safety net near $85,000. A drop below these levels may introduce increased bearish pressure.

The Relative Strength Index (RSI) remains in neutral territory, while the 50-day moving average continues its upward trajectory beneath the current price, suggesting a bullish bias in the medium term.

Market participants are closely watching the Federal Open Market Committee (FOMC) meeting scheduled later this week. While consensus anticipates a pause in rate hikes, any deviation or unexpected commentary could trigger notable volatility in crypto and traditional markets alike.

In parallel, institutional involvement continues to deepen. Morgan Stanley’s recent announcement of spot crypto trading on its E*Trade platform, combined with Strategy’s expanded Bitcoin holdings, signals growing confidence in the asset from major financial players. Such developments may provide foundational support for future upward momentum.

Short-term forecasts suggest Bitcoin may remain range-bound in the immediate term, with volatility largely contingent on macroeconomic signals and institutional flows. While the technical setup hints at cautious optimism, traders are advised to stay vigilant ahead of economic catalysts.

The coming days may determine whether Bitcoin can finally cross the $100,000 threshold or retreat to retest established support zones.

As of May 6, 2025, Ethereum (ETH) is trading at approximately $1,778, reflecting a 1.4% decline over the past 24 hours. The cryptocurrency has been hovering near the $1,800 mark, indicating a period of short-term consolidation within a broader downtrend.

Technical analysis reveals critical resistance levels at $1,800, $1,830, and $1,880. These thresholds are expected to pose challenges to any upward momentum unless accompanied by a strong catalyst. On the downside, support is currently found at $1,765, with additional safety at $1,735. The Relative Strength Index (RSI) stands at 42, suggesting mildly oversold conditions. Ethereum’s 50-day moving average, positioned significantly higher at $2,480, may act as a resistance ceiling if a rebound occurs.

The Ethereum community is closely watching the upcoming Pectra upgrade, slated for May 7. The update is expected to improve staking efficiency, scalability, and user experience on the network. With Ethereum still transitioning toward a more mature proof-of-stake architecture, the upgrade could have a lasting impact on both investor sentiment and developer engagement.

Meanwhile, recent blockchain data shows renewed institutional interest, with a notable Ethereum whale accumulating 1,700 ETH (worth approximately $3.1 million) after a six-month hiatus. This move suggests growing confidence among large holders as the network’s fundamentals strengthen.

Short-term forecasts indicate that Ethereum may remain range-bound unless catalyzed by a successful upgrade or further institutional accumulation. Market participants should remain alert, as ETH’s current consolidation near key technical levels could quickly give way to renewed volatility depending on external catalysts.

While ETH holds near $1,800, all eyes are on the coming days—potentially a decisive moment in Ethereum’s price trajectory for Q2 2025.