The current price of Bitcoin (BTC) is approximately $103,796, an increase of about 0.72% from the previous trading day. DL News+4Investopedia+4 Financial and Business News | Financial Giants+4
Despite the recent price increase, there are still some potential bearish factors in the market that could put pressure on BTC prices:
Uncertainty in Federal Reserve Policy: Although the market expects the Federal Reserve to maintain interest rates, investors are closely monitoring Chairman Powell's remarks for clues about future monetary policy. Any hawkish comments could dampen market risk appetite and put pressure on cryptocurrencies.
Poor Coinbase Earnings Report: The recently released earnings report shows a 19% decline in trading revenue for the first quarter, and earnings per share significantly below market expectations, raising concerns about reduced cryptocurrency trading activity.
Potential Technical Pressure: Although BTC has surpassed $100,000, technical analysis indicates that the price increase is accompanied by a decrease in trading volume, which may suggest weakening upward momentum, necessitating caution for potential price corrections.
