[Crypto Daily Update | May 7, 2025]
BTC holds steady around $96.9K ahead of tonight’s FOMC meeting. A breakout or breakdown could follow depending on Fed Chair Powell’s tone.
ETH trades at $1,817, with mixed sentiment as the Pectra upgrade activates today. Coinbase will temporarily pause ETH transactions.
XRP dips to $2.15, slipping below key support. Ripple’s latest market report hints at institutional interest.
4. U.S. Fed Watch:
All eyes on the FOMC rate decision tonight (11 PM PKT). 94% chance rates stay unchanged—but Powell’s words could shift the market.
5. Ethereum Upgrade Alert:
ETH’s Pectra aims to boost scalability. Temporary trading pauses expected on major exchanges like Coinbase.
6. Regulation Radar:
Congressman Tom Emmer pushes “Anti-CBDC Surveillance State Act,” opposing government control via digital currencies.
7. Institutional Moves:
New Hampshire becomes first U.S. state to create a Bitcoin reserve, allocating up to 5% of state funds to crypto.
8. Promo Watch:
Paradex is offering a 20% discount across its store—ending 6 PM UTC today!
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