As of May 7, 2025, Bitcoin (BTC) is trading at approximately $96,881, reflecting a 2.8% increase over the past 24 hours. The cryptocurrency reached an intraday high of $97,513 and a low of $93,587.

Key Developments:

FOMC Meeting Anticipation: Investors are closely watching the Federal Open Market Committee (FOMC) meeting scheduled for later today. Speculation surrounds potential interest rate decisions, which could influence Bitcoin's price trajectory. Analysts suggest that dovish signals might propel BTC toward the $100,000 mark, while hawkish tones could lead to a pullback to around $91,000.

Institutional Activity: Recent movements include the activation of long-dormant Bitcoin wallets, transferring significant amounts of BTC. Additionally, major financial institutions are reportedly increasing their Bitcoin holdings, indicating growing institutional interest in the cryptocurrency market.

ETF Flows: Fidelity's Bitcoin ETF reported zero inflows on May 7, marking a pause in new capital entering this investment vehicle. This stagnation could reflect investor caution ahead of the FOMC meeting.

Overall, Bitcoin's recent performance showcases its resilience and the market's anticipation of forthcoming economic indicators. The cryptocurrency's trajectory will likely be influenced by the outcomes of the FOMC meeting and ongoing institutional engagement. #FOMCMeeting #BTC