Bitcoin eyes $95K retest as traders brace for Fed rate cut volatility
Bitcoin (BTC) declined toward $95,000 as traders anticipated further macroeconomic impacts. BTC price liquidations reached 10-week highs, with BTC/USD retreating from recent multimonth highs. Key liquidity levels were identified, with dense long positions between $95.7k-$96k and heavy short positions around $96.5k-$97k. The majority of buy orders were clustered at $97,200. Analysts noted the potential for continued volatility as the $100,000 mark approached. Positions between $94K and $97K were flushed over the weekend. Michaël van de Poppe indicated that holding above $91.5-$92K would support a continuation toward a new all-time high. Expectations of volatility were heightened ahead of the US Federal Reserve's interest rate decision, with minimal odds of a rate cut on May 7.
