Bitcoin ($BTC ) Holds Steady Around $94K Ahead of Fed Decision

As of May 5, 2025, Bitcoin ($BTC ) is trading at approximately $93,937, reflecting a slight decline of 0.4% over the past 24 hours. This stability comes as investors await the U.S. Federal Reserve's upcoming interest rate decision, with expectations leaning towards maintaining the current range of 4.25% to 4.50%.

Market Sentiment and Institutional Activity

Despite the minor dip, institutional interest remains robust. Notably, BlackRock's IBIT ETF reported significant net inflows, indicating sustained confidence in Bitcoin's long-term value. Additionally, Michael Saylor's Strategy expanded its holdings by acquiring 1,895 $BTC , bringing its total to over 555,000 BTC.

Technical Outlook

Analysts suggest that Bitcoin's current price action is a consolidation phase, with potential for upward movement if it breaks above the $95,000 resistance level. Conversely, a drop below the $93,000 support could signal further downside.