Key Takeaways:
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Data shows the Bitcoin Bulls opening long positions from $ 94,400.
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A $ 189 million increase in Bitcoin futures open interest and a 15% increase in trading volume shows long -term purchase interest.
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BTC momentum tends to be slow before the FOMC meetings and then turns after. The same can occur following the stateral reserve statements of this week.
The Bitcoin (BTC) Bulls holds strongly around $ 94,500 levels as the market awaits the Federal Open Market Committee (FOMC) meeting on May 7. Bitcoin analyst Axel Adler Jr. mentioned BTC price strength and taught a bullish cluster of long positions that make up around $ 94,400 in the futures market. A similar cluster was observed at the end of April, which pushed BTC prices to $ 97,500.
Similarly, Bitcoin Futures Open Interest (OI) has shown a rapid increase of 2,000 BTC, that is, approximately $ 189 million, in recent times. An increase in the OI and a 15% increase in the combined -with the volume indicates the same as the pressure purchase despite the price sinking.
The combined -joint rate of funding remains close to neutral, indicating a balanced emotion between longs and shorts for the past eight hours. However, funding rates have changed, with short spikes at 0.018% on May 6, suggesting a time -to -date with leveraged traders.
MN Capital founder Michaël van de poppe also recognized Bitcoin's bounce and said the BTC can continue to recover in the markets. Said the analyst,
“I think we'll continue grinding on bitcoin upward, the main factor here is that if gold starts to correct after FOMC tomorrow, indicating that there is a start of the business cycle.
Related: The Bitcoin Sell-off up to $ 93.5K is a short hiccup — data still supports new BTC highs in 2025
Bitcoin Momentum Stall before FOMC
Swissblock, a firm management firm, revealed That Bitcoin momentum usually slowed down before the last five interest rate decisions, followed by a sharp increase in price volatility. In an X review, the firm presented a monitoring chart at the 25-day Bitcoin (ROC) change rate from October 2024 to May 2025.
The price of bitcoin continues to climb the charts whenever the ROC is trending or being positive. This was mainly observed in October-November 2024, and recently in April 2025.
As a result, when the ROC tapers are completed, the BTC corrected, an outcome observed in January-February 2025. Recent data indicates that the ROC remains in an uprising in May 2025, increasing the likelihood of a acquired price for Bitcoin.
The Swissblock emphasized that the FOMC meeting was a potential catalyst for the next bitcoin transfer, mentioning that the decision of the rate and federal reserve chairman Jerome Powell could spark the volatility in financial markets.
Related: The price of Bitcoin rallied 1,550% in the last time the 'BTC Risk-Off' metric fell it
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
