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Cryptocurrency News Articles
Bitcoin (BTC) price holds steady near the $94000 mark as the broader crypto market shows signs of both resilience and hesitation.
May 05, 2025 at 02:25 pm
Bitcoin price remained in the mid-$94,000s as the broader crypto market displayed mixed signals of both resilience and hesitation.
After touching highs of nearly $98,000 last week, BTC pulled back slightly, reflecting cautious optimism amid macroeconomic shifts and geopolitical uncertainty.
With market sentiment hovering in the ‘neutral’ zone and institutional interest remaining strong, traders were keenly awaiting the Fed’s upcoming rate decision for the next major cue.
Altcoins faced mixed movements, and Bitcoin's rising dominance signaled a shift toward safer bets in a volatile market.
Crypto Prices Today: BTC Price Remains Above Key Support
Last Monday, (April 28), the overall crypto market cap stood at $2.95 trillion. BTC price today stood at around $94,100. ETH price today stood at around $1,700.
A week later, the overall market cap dipped to $2.94 trillion.
DeFi's total volume stands at $3.92 billion, at 7.03 percent of the total market 24-hour volume. In the case of stablecoins, the overall volume stands at $51.12 billion, at 91.77 percent of the total 24-hour market volume.
As per CoinMarketCap, the overall market fear and greed index stood at ‘Neutral' with 49 points (out of 100).
BTC dominance, at the time of writing, stood at 63.70 percent.
Over the past seven days, Bitcoin achieved a high of $97,760.27 (on May 2) and a low of $93,409.06 (April 30).
Ethereum, on the other hand, saw a high of $1,861.53 (May 1) and a low of $1,749.37 (April 30).
Crypto News: Biggest Stories This Week
The crypto market showed mixed signals this week as Bitcoin stabilised around the $94,500 mark.
After briefly testing the $97,000 support, Bitcoin faced resistance near the psychological $100K level, where it encountered strong selling pressure last month.
However, optimism around potential US-China trade talks and persistent institutional demand helped stabilise prices.
As Bitcoin hovers in the mid-$94,000s, traders are awaiting the Fed’s interest rate decision, which could have a major impact on market direction.
The broader market remains cautious ahead of the crucial announcement, especially with geopolitical tensions and macroeconomic uncertainty continuing to influence sentiment.
Relative Strength Index (RSI) suggests overbought conditions in the short term, while Bitcoin's rising dominance and low exchange supply bode well for long-term momentum.
Despite the stellar rally from the March lows, Bitcoin faces resistance at the $98,000–$100,000 zone, which could lead to a temporary pullback.
Bitcoin could find support around the $88,000 level, which aligns with the 200-week moving average.
Bankless co-host and crypto researcher Jason A. Paul noted that Bitcoin has entered "uncharted territory" as it trades above the $90,000 mark for an extended period.
"We've never seen Bitcoin hold this high for this long. Usually, when it gets this high, it quickly corrects back down to the $40,000–$70,000 range."
"This time, however, it seems to be holding firm despite the strong rally off the March lows," Paul stated in a recent X post.
"This could be a sign that the bull market is continuing and could lead to new all-time highs in the $100,000–$105,000 zone."
"But if the market pulls back further, the next major support level is around the $80,000 mark, which corresponds to the 2022 lows."
World's largest cryptocurrency Bitcoin dropped 1.6 percent in the past 24 hours to R87,971.9 by 00:08 ET (04:08 GMT). Smaller cryptocurrency Ether fell 0.8 percent to R69,121.0.
Bitcoin fell as much as 2.4 percent earlier in the session to a low of R87,000, the lowest since April 25. It has since rebounded and was trading at R88,000.
Bitcoin is now down about 10 percent from a seven-week high of R97,871.9 touched on Monday.
The next major support level for
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