Bitcoin’s dominance in the market exceeded 65%

The cryptocurrency market is expecting increased volatility due to the meeting of the US Federal Open Market Committee (FOMC), which is scheduled for May 6−7. Traders and analysts are focused on a possible decision on the discount rate, which will be announced on May 7 at 21:00 Kyiv time. Fed Chairman Jerome Powell has previously noted that further actions will depend on the clarity of economic policy, particularly in the context of Donald Trump’s tariff strategy.

Initially, the markets expected a 1% rate cut, but now they are predicting a more moderate reduction to 0.75% over the course of the year. In addition to the rate, investors are closely watching for possible hints of an end to the quantitative tapering program (QT), which has been draining liquidity from the market since 2022. At the same time, U.S. Treasury Secretary Scott Bessent is planning a meeting with Chinese representatives in Switzerland to discuss potential changes in tariff policy, which could be a turning point in the current trade tensions.

Against this backdrop, Bitcoin BTC $100,856.26 Bitcoin 4.35% Market capitalization $2 trillion VOL. 24 hours $2.6 billion has already begun to show positive dynamics, reaching around $ 97,000. The market dominance of BTC has exceeded 65%, but this may change if favorable macroeconomic signals are approved — which will pave the way for the potential start of an «alt-season» when altcoins outpace the main cryptocurrency in terms of growth.

Technical analysis shows that Bitcoin is currently in a resistance zone between $ 96,100 and $ 97,400. If it manages to gain a foothold above $ 95,300, it is likely to continue its upward movement. At the same time, analysts warn that despite the current recovery, it is too early to talk about a final trend change — a short-term correction is possible.

The cryptocurrency community is also actively reacting to the news about Metaplanet, which has acquired an additional 555 BTC after raising $ 25 million through a zero-coupon bond issue. This is another factor that reinforces positive expectations for further market movement.