Bitcoin Dominance: 5 Things to Keep in Mind About Bitcoin This Week
The Federal Reserve's interest rate decision is the key macro event of the week… What does it hold for the crypto market?
Bitcoin BTC83,751 € starts the first full week of May with the support of the annual opening in sight before a key economic policy decision from the United States.
The price action of BTC tries to hold the annual opening as support after some declines in the weekly close, but the bullish outlook remains intact.
The interest rate decision from the U.S. Federal Reserve is the key macro event of the week; Chairman Jerome Powell says it is something that "will move the markets."
Unemployment benefit claims and Coinbase earnings add to a mixed bag of potential volatility triggers as recession rumors grow stronger.
Bitcoin's dominance reaches 65% for the first time in over four years, but analysts believe its days are numbered.
The Bitcoin "FOMO" continues to wait as sentiment shifts to positive.
Bitcoin traders remain bullish
Bitcoin saw some selling pressure at the weekly close on May 4, hitting lows of $93,350 on Bitstamp before recovering, according to data from Cointelegraph Markets Pro and TradingView.
