Here’s a roundup of the most significant cryptocurrency news for today, May 7, 2025, along with relevant visuals:
📈 Market Highlights
Bitcoin$BTC Surges Past $97K Ahead of Fed Decision
Bitcoin's price has climbed above $97,000, driven by investor anticipation of the Federal Reserve's interest rate decision scheduled for today. Analysts suggest that a dovish stance from the Fed could propel BTC toward the $100K mark, while a hawkish tone might lead to a pullback to around $91.5K.
Ethereum's$ETH Pectra Upgrade Launches
Ethereum has officially launched its Pectra upgrade, aiming to enhance scalability and user experience. The update is expected to influence ETH's market performance in the coming days.
🏦 Institutional Developments
Fidelity's Bitcoin ETF Records Zero Inflows
Fidelity's Bitcoin ETF reported zero daily inflows on May 7, indicating a pause in new capital entering the fund. This development may reflect investor caution ahead of the Fed's announcement. Blockchain News
Strike Introduces BTC-Backed Loans
Bitcoin payments company Strike has launched a new service allowing customers to obtain loans using Bitcoin as collateral, expanding the utility of BTC in financial services. Decrypt
📰 Political and Regulatory Updates
Senate Democrats Oppose Crypto Regulation Bill
Senate Democrats are rallying against the bipartisan GENIUS Act, a proposed regulatory framework for stablecoins. Concerns have been raised about potential conflicts of interest involving President Trump's business ventures in cryptocurrency. CBS News
📷 Visual Highlights
Federal Reserve's Impact on Crypto: An image depicting Federal Reserve Chairman Jerome Powell, symbolizing the Fed's influence on the cryptocurrency market.
Obol Token Listing: A promotional graphic announcing the listing of Obol Token ($OBOL) on Binance Alpha & Futures.
Ethereum's Pectra Upgrade: An illustration showcasing Ethereum's new Pectra upgrade, emphasizing its potential impact on the network's scalability.