$BTC overview -May 05th, 2025
Bitcoin is consolidating around $94,160, down slightly but showing resilience amid cautious market sentiment. Strong institutional buying, positive technical indicators (rising SMAs, neutral RSI), and supportive macro factors (low inflation, pro-crypto policies) underpin BTC’s bullish outlook. However, traders are cautious due to the upcoming FOMC meeting and tariff uncertainties. BTC is likely to test $95,900–$98,000 soon, with a breakout above signaling a move toward $104,550 or higher. Downside risks include a drop to $90,000 if macro headwinds intensify. Investors should monitor ETF flows, trade policy updates, and technical levels ($92,500 support, $95,900 resistance) for near-term direction.
