BTC starts May at 94,650 USD with yearly open support as the Fed’s interest rate decision looms. Bitcoin dominance is at 65%, but analysts predict a possible decline after hitting 71%. Traders hope Bitcoin maintains above 93,500 USD amid recession fears and economic forecasts.
As the Federal Reserve meets on May 7, market volatility is expected regardless of the interest rate decision. Rising recession concerns could affect Bitcoin prices as upcoming jobless claims and Coinbase’s earnings report approach. Analysts suggest monitoring these factors closely.
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