Crypto Price Wrap: Bitcoin (BTC) Dominance Soars Ahead of FOMC
On May 6, 2025, Bitcoin (BTC) maintained a price range near $95,000 while its market dominance surged to over 65%, its highest since January 2021. This increase is attributed to traders rotating into BTC amid a decline in large-cap altcoins and traditional stock indices. Analysts anticipate upcoming volatility following the Federal Reserve's policy meeting. Market strategist Joel Kruger noted the current market is in a holding pattern, waiting for significant economic updates or the FOMC decision on May 7. Vetle Lunde from K33 reported that BTC's volatility has been unusually low, indicating it may soon experience a sharp price movement as traders react to market shifts. Despite prices remaining stable, the dynamics suggest traders are positioning for potential gains in a changing market landscape, with Lunde advocating for aggressive spot exposure ahead of the FOMC meeting.
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