Bitcoin (BTC) Update — May 7, 2025

Current Price: ~$94,960

24h Change: +0.7% gain

Today’s Range: $93,587 (low) to $95,118 (high)

Key Levels:

Resistance Zone: Around $96,000 — if BTC breaks above, it may push toward $98,000.

Support Zone: Between $91,800–$92,500 — this has held strong since late April.

Technical Notes:

The MACD indicator has turned slightly bearish on short-term charts.

Bollinger Bands show midline support near $92,000.

On-chain data shows over 88% of BTC holders are still in profit, which supports positive sentiment.

Market Outlook:

The Federal Reserve’s FOMC meeting today could create volatility, depending on their economic signals.

If no major surprises come from the Fed, BTC may continue consolidating under $96,000 before attempting another breakout.