$BTC Bitcoin Holds Steady Near \$94K Ahead of Fed Decision

As of May 6, 2025, Bitcoin (BTC) is trading around \$94,182, reflecting a modest 0.44% dip over the past 24 hours. The leading cryptocurrency has seen relatively stable price action, ranging between \$93,702 and \$95,118 today, as traders brace for potential market-moving news from the Federal Reserve.

The focus is firmly on the FOMC meeting taking place May 6–7, with expectations that interest rates will remain unchanged. However, market sentiment hinges on Fed Chair Jerome Powell’s comments — any hint of dovishness could fuel a crypto rally. Investors are watching closely for signals of a policy pivot that might reignite risk appetite.

Meanwhile, institutional adoption remains a strong narrative. BlackRock’s iShares Bitcoin Trust ETF added a staggering 41,452 BTC (worth \$3.92 billion) over the last two weeks, bringing its total holdings to over \$58 billion. This aggressive accumulation signals growing confidence from traditional finance players.

However, not all regulatory news is bullish. In Florida, two proposed bills aiming to create a state-held Bitcoin reserve have been indefinitely postponed, reflecting continued caution among U.S. policymakers.

Technically, Bitcoin faces resistance at the \$99,900 level, a key zone traders are eyeing. If BTC can break through that, it may clear the path toward new all-time highs.

Checkdot is SAFU, research on CheckDot.