Bitcoin moved closer to $95,000 as traders prepared for potential volatility tied to an upcoming Federal Reserve interest rate decision. As the weekly close approached, BTC was seen testing liquidity around this critical price point, with several traders anticipating fluctuations. Notably, trader TheKingfisher highlighted significant long and short positions clustered between $95,700 and $97,000, suggesting that these levels could act as price magnets. While Bitcoin's price has retracted from multimonth highs, expectations remain high for the $100,000 target as traders assess potential bottom levels. Crypto analyst Michaël van de Poppe noted that holding above $91,500 to $92,000 could validate a continuation towards new all-time highs. As the Federal Reserve convenes, with minimal odds for a rate cut on May 7, market sentiment is poised for a shift, particularly in the days leading up to the meeting, with traders cautious of corrections.

Source 🔗