Bitcoin is striving to break above $95,000 on May 1 as expectations grow that the US Federal Reserve may cut interest rates sooner than anticipated. This shift is influenced by disappointing US GDP data and rising odds of a rate cut at the June 18 FOMC meeting, which have climbed from 57% to 60%. A sustained break above $95,000 could drive Bitcoin toward the $100,000 mark, while a drop below $93,000 may lead to declines back to the $84,000 range. Analysts highlight that the critical levels to watch are the 111-day SMA at $91,300 and the short-term holder cost basis at $93,200. Both levels were recently reclaimed, indicating strength in the price recovery. Traders are keenly awaiting the May 2 jobs report, which will further impact market sentiments around Bitcoin. Historical patterns suggest that anticipated rate cuts act as bullish catalysts for Bitcoin and other risk-on assets, as seen prior to the prior rate cut in December 2024 when Bitcoin surged significantly.

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