Bitcoin bulls began opening margin long positions at the $94,400 line, which led to a $189 million increase in futures open contracts (OI) and a 15% increase within a few hours.
This led to a surge in trading volume to reach 1.1 billion yen. As has been the pattern around the last few FOMC meetings, Bitcoin's upward momentum slowed before the interest rate announcement and then showed sharp volatility.
This trend is likely to be repeated this week. Bitcoin is maintaining support around the $94,500 line, and the futures market is seeing long positions.
A "bullish cluster" of positive sentiment was observed in the past, as was observed in late April. Swissblock has been tracking Bitcoin's bullish behavior around the past five interest rate decisions.
The study analyzed the 25-day rate of change (ROC) of the yield curve and found that the trend of price volatility rising sharply immediately after the FOMC was repeated. Currently, the ROC in early May is showing an upward trend, and the bitcoin market is
MN Capital's Michael van de Poppe is focusing on the current rebound and said, "Gold prices are correcting after the FOMC.
If so, this will signal the start of a business cycle and Bitcoin's rally will continue."
Meanwhile, at 10:30 a.m. on the 7th, Bitcoin was trading at 10:30 p.m., up 24 hours earlier according to CoinMarketCap.
It recorded a price of $97,448 (approximately 13.94 million yen), up 2.80% and 3.16% from seven days ago.
2025/05/07 11:30 KST
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