Bitcoin tops 97 thousand dollars in an increase on Tuesday night

Bitcoin (BTC) in the tears tonightRising to 97388 As of Tuesday evening at 8:30 pm East time.

This last gathering comes amid an increasing anticipation around Tuesday Federal Reserve Federal Reserve DecisionWho believes many analysts Inject more fluctuations– And an opportunity – to the encryption markets.

This gathering extends in a multicoin for a multi -week Bitcoin race above $ 90,000 and confirms the renewed investor confidence, even with the wider financial markets remaining on monetary policy signals.

FOMC decision waving on the market on the markets

the Federal Open Market Committee (FOMC) It is scheduled to announce the recent policy decision on Tuesday, May 7, and Bitcoin merchants are closely watching. While it is widely expected that the Federal Reserve maintains fixed interest rates, the markets are increasingly determined by the Dofish language that can hint on price cuts in the future.

According to a recent report from CointelegraphBitcoin “rushing to long sites” in anticipation of favorable micro signals. The data indicates that interest rates and open financing for futures have increased significantly, indicating a strong circulating conviction that BTC can provide its gains after the meeting.

Bitcoin dominance up to the highest 4 years

In a sign of the increased investor confidence in Bitcoin on Altcoins, BTC dominance– A share of the total maximum of the cryptocurrency market – has risen to levels that have not been seen since 2021.

per CoindskThis height in hegemony coincides with a broader risk feeling in the market. With the uncertainty about interest rates and economic growth, Capital revolves more speculation and return to Bitcoin, which is seen as “digital gold” by many institutional investors.

One analyst said: “Bitcoin is a safe haven in Crypto while uncertainty in the macro.” “Its dominance indicates a re -customization to the quality.”

Institutional flows add fuel to the fire

Increasing the reinforcement of the future, based in the United States Bitcoin etfs Record More than $ 420 million in flows Over the past 24 hours, according to Blockchain analysis data. Driving the package Blackrock’s ISHARES Bitcoin Trust (IBIT) With more than 529.5 million dollars in one -day flow.

This increase in institutional demand indicates that traditional financing continues to assemble bitcoin on declines – an ascending pressure on taking price measures before the main economic stimuli.

What is the following for Bitcoin? 100 thousand dollars on the horizon

If the Federal Reserve indicates more expectations or hints in mitigation later this year, Bitcoin can speed up its rise over $ 100,000 – a level that sees many of the following major resistance investors.

The main short -term price levels to watch:

• Support: 94,000 dollars and 92,500 dollars
• resistance: 98,500 dollars and 100,000 dollars of psychological level
• dominance: 55.3 % (higher since April 2021)

Since the fluctuations accumulate in the May 7 Declaration, merchants must prepare for rapid prices in either direction. However, the basic momentum and standards over the chain are highly preferred to continue in the upward trend at the present time.

Final ideas

The Bitcoin rally reflects $ 97,000 tonight than just a technical momentum – it is an increasing story of confidence before the axis federal reserve decision.

With high institutional flows, BTC dominance increased, and the increasing financial leverage on futures markets, all eyes on FOMC.

If the macro conditions are aligned, the next station for Bitcoin may be $ 100,000 – and perhaps after that.

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