Bitcoin Price Surges, But Can It Maintain Momentum?
By: cointurk|2025/05/06 19:15:01
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Over the past month, Bitcoin’s (BTC) price has climbed by 25%, driven by U.S.-based cryptocurrency ETFs and institutional purchases. However, a decline in the Coinbase premium and weakening funding rates suggest this upward momentum may be slowing. According to the latest assessment report by 10x Research, these indicators warn of a waning rally. Currently, the cryptocurrency market is stabilizing around the $95,000 mark, with investors eagerly anticipating the next upward catalyst. Coinbase Premium and Funding Rates Decline The reduction of the Coinbase premium signals waning purchasing appetite even on the publicly listed giant U.S. crypto exchange. Additionally, market funding rates have weakened, pointing to investors and traders becoming more cautious. 10x Research highlighted these signs as indications of a fading bullish momentum. Despite these signs, the skew in the options market still carries some upwards signals, indicating potential for growth. However, it remains crucial for investors and traders to construct a strategic action plan. Identifying risks clearly and taking tactical positions are essential steps moving forward. New Pressures on Bitcoin: Fed Rate Meeting and Tariff Uncertainty On the macroeconomic front, the Federal Reserve’s interest rate decision meeting on May 7th continues feeding uncertainty and sustaining it within the cryptocurrency market. The Fed maintains a moderate path, neither aggressively hawkish nor dovish. Concerns arising from Donald Trump’s tariff measures introduced in April also add to this uncertainty. Together, these factors contribute to a slight decrease in market volatility. For the crypto market , Bitcoin’s chart positions around the $95,000 level act as a pivotal point. Bitcoin is currently unable to surpass this level and is consolidating around it. Until a new bullish trigger emerges, investors are advised to exercise caution.
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