Bitcoin Surges 5% to $95,000 Ahead of FOMC Meeting

Bitcoin (BTC) has surged to $95,000, marking a significant milestone as the cryptocurrency continues to build a bullish trend ahead of the upcoming Federal Open Market Committee (FOMC) meeting. The cryptocurrency's price has been in a fragile but critical zone, with conflicting technical signals and growing macro uncertainty shaping short-term expectations. The Directional Movement Index (DMI) shows a notable shift, with the Average Directional Index (ADX) climbing sharply to 25.93, indicating a trend is starting to gain traction. However, the bullish strength (+DI) has bounced to 12.2, while the bearish strength (-DI) remains at 19.17, suggesting that sellers still have the upper hand.

The Ichimoku Cloud chart for Bitcoin reflects a market in consolidation, with price action sitting very close to the blue Kijun-sen, which typically represents medium-term trend momentum. Trading beneath this line suggests that btc lacks the strength to reclaim bullish momentum in the short term. The white candlesticks hovering near the cloud’s lower boundary indicate indecision among traders, with no clear breakout in sight. The green Kumo (cloud) itself is relatively thin, hinting at a fragile support zone that could easily be broken if bearish pressure returns. The red Senkou Span B is acting as dynamic resistance, capping any upward attempts. For a stronger bullish signal, BTC would need to close decisively above both the Kijun-sen and the entire cloud.

Bitcoin price has remained resilient above the $90,000 level since April 22, repeatedly holding support near $92,945 despite broader market uncertainty. The exponential moving averages (EMAs) still reflect a bullish structure, with short-term averages positioned above long-term ones. However, there are early signs of weakening momentum, as the short-term EMAs have begun to slope downward, indicating that buyers may be losing strength soon. If BTC fails to hold its key support, a drop toward $88,839 could follow, breaking the structure that has held for over two weeks.

Ask Aime: What should I do with my Bitcoin now that it's at $95,000?

Some analysts remain confident in Bitcoin's ability to reclaim the $100,000 mark. According to the analyst's forecast, Bitcoin is well-positioned to reclaim the $100,000 mark, even as markets brace for volatility surrounding the upcoming FOMC meeting. The analyst believes that there is a great deal of buying interest around the $90,000-$93,000 range, so a dip to those levels is nothing to be concerned about – it will likely bounce back. Overall, the BTC/USD chart is looking strong as it continues to print higher lows. If the Fed surprises with some dovish tones as well as guidance for rate cuts in June, there’s room for Bitcoin to rally all the way back up to that $100,000 level, which remains a liquidity magnet. However, even if the Fed strikes a hawkish tone, the impact on BTC will likely be minimal. There’s simply too much positive momentum – spot BTC ETFs are hoovering up assets, corporates are building up BTC treasuries and the correlation between Bitcoin and stocks is breaking down. On top of this, historic data shows that BTC has posted gains during nine out of the last 12 Mays. So, despite the likelihood of heightened volatility, the near future is looking promising.

A recovery in momentum could first drive BTC to retest resistance at $95,657, with a breakout potentially leading to $98,002 and eventually a challenge of the psychological $100,000 level. With macro headwinds and technical crossroads converging this week, the next move will likely hinge on how BTC responds to its support zone and how broader market sentiment reacts to Fed commentary.