Bitcoin $BTC Nears $100K: Bitcoin $BTC (BTC) surged past $97,000 ahead of today's U.S. Federal Reserve FOMC meeting, driven by institutional interest and speculation about monetary policy.
Ethereum's Pectra Upgrade: Ethereum (ETH) activated its Pectra upgrade, introducing features like account abstraction and improved scalability. Despite this, ETH remains below $1,800 due to global tensions.
Institutional Movements: Major Bitcoin ETFs, including those from Fidelity and WisdomTree, reported zero inflows on 7 May, indicating a pause in new institutional investments.
U.S. Crypto Reserve: New Hampshire became the first U.S. state to establish a cryptocurrency reserve, allowing up to 5% of public funds to be invested in digital assets like Bitcoin.
📊 Technical Insights
Bitcoin Support & Resistance: Key levels to watch are $60,000 as support and $73,000 as resistance. Holding above these could signal continued bullish momentum.
Ethereum's Golden Cross: ETH $ETH has maintained a 7-day Golden Cross, historically a bullish signal, suggesting potential for upward movement.
