The "Leap" of Bitcoin Price is Near! FOMC Decision May Determine Future Direction

Bitcoin (BTC) in the first complete week of May, as the Federal Reserve is about to announce its interest rate decision, market sentiment continues to heat up. Although BTC experienced a slight pullback on May 4th, dropping to $93,350 before rebounding slightly, the overall bullish trend remains unchanged.

This week’s focus is on Federal Reserve Chairman Powell's decision, which is expected to have a significant impact on the market. With increasing expectations of a recession in the U.S., unemployment claims and Coinbase's earnings report may trigger greater volatility. Bitcoin currently dominates the crypto market, accounting for 65%, but this situation may change soon.

Analysts remain bullish on Bitcoin, particularly due to the strong support at the opening price of $93,500 earlier this year. Despite some selling pressure in the short term, the long-term target still looks toward new historical highs. As market sentiment turns positive, FOMO sentiment is quietly building up, possibly paving the way for the next wave of increase.