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Crypto Week Ahead: Bitcoin Stable At Around $94,000. Check Where BTC Support Lies Now
By: abplive business crypto|2025/05/05 14:45:01
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Bitcoin continues to hold steady near the $94,000 mark as the broader crypto market shows signs of both resilience and hesitation. Over the past week, BTC touched highs of nearly $98,000 before pulling back, reflecting cautious optimism amid macroeconomic shifts and geopolitical uncertainty. With market sentiment hovering in the ‘neutral’ zone and institutional interest remaining strong, traders are closely watching the Fed’s upcoming rate decision for cues. Meanwhile, altcoins are witnessing mixed movements, and Bitcoin's rising dominance signals a shift toward safer bets in a volatile market. Before we proceed further, readers should note that the overall crypto market and coin prices are extremely volatile. There are no foolproof methods to ascertain how cryptocurrencies are expected to behave in the future. This article is aimed at helping investors stay on top of the current market scenarios and the biggest events that have already taken place as well as some upcoming occurrences that are worth noting. Investors are advised to do their research before taking any calls. Crypto Prices Over The Past Week Last Monday (April 28), the overall crypto market cap stood at $2.95 trillion. BTC price stood at around $94,100. ETH price stood at around $1,700. A week later, the overall market cap dipped to $2.94 trillion. Check Out Top Crypto Prices Today 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 Events To Note The crypto market showed mixed signals as Bitcoin hovered around $94,500 after briefly testing $97,000 support. Optimism around potential US-China trade talks and strong institutional demand helped stabilise prices. However, a sharp rejection at $98,000 highlighted resistance near the psychological $100K level. Altcoins faced broader pullbacks, with tokens like SUI and AVAX taking the biggest hits. Rising BTC dominance and a dip in total market cap signal a temporary shift back to Bitcoin as a safer bet. Meanwhile, ETF inflows and low exchange supply keep long-term momentum intact, though overbought RSI suggests short-term pullbacks. Market watchers expect Bitcoin to trade in a range, with key support at $88,000 and potential upside toward the $100K–$105K zone. The broader market remains cautious ahead of the Fed’s interest rate decision, with geopolitical tensions and macroeconomic uncertainty influencing sentiment. Altcoins like WAL and FLR showed gains, while others, including ENS and RNDR saw declines. What Crypto Traders Are Saying About Current Market Scenario Edul Patel, CEO and co-founder, Mudrex, told ABP Live , “Bitcoin is stabilising around $94,300 following a strong rally to $97,900 over the weekend, driven by stronger-than-expected US Nonfarm Payroll data, indicating a relatively stable job market. The rally was further supported by $1.81 billion in net inflows into US Spot Bitcoin ETFs, representing the third-largest weekly inflow in 2025. While some profit booking has emerged ahead of the FOMC meeting, overall sentiment remains positive. As long as BTC holds above the 20-day EMA near $92,000, the broader uptrend is likely to continue. The Fed’s tone could set the next directional cue for the market.” Srinivas L, CEO, 9Point Capital, said, “Bitcoin demonstrated impressive strength by breaking above the critical $95,000 resistance level last week. This breakout, combined with supportive macroeconomic conditions — including a softer dollar, resilient equity markets, and continued institutional participation — reinforces our positive outlook. We remain long on BTC and believe the momentum is likely to continue in the near term.” Subscribe And Follow ABP Live On Telegram: t.me/officialabplive Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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