Bitcoin Bulls Brace for May Madness: Fed Decision, Recession Fears, and The Final Countdown?

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It was spring in the land of numbers and hope. Somewhere, in the silent din of hard drives and blinking lights, Bitcoin (BTC) prepared to look May square in the eye, like a stubborn old dog scratching the dust before the storm. Yearly open support was the name of the game, and the United States – great, blustering, unpredictable – was about to shake its economic dice.

  • Price action for the great Bitcoin slumped to the weekly close with all the melodrama of a country bar at 2 a.m., but the torchbearers kept their heads high and dreams bullish.

  • All eyes fixated on the high priests of finance at the Fed, as ole’ Jerome Powell threatened to “move markets” – though nobody really said which way, and most bets were on “sideways.”

  • Jobless claims and Coinbase earnings tumbled in from stage left, ready to bring some chaos. Recession? The crowd muttered like restless livestock.

  • Bitcoin dominance, swollen to 65%, strutted on stage like a peacock, while the jealous altcoins heckled from the shadows. “Your time’s almost up!” they cried. Who can say?

  • And FOMO, like an unpredictable ghost, was lurking out of the limelight. You never invite it, but it shows up anyway with a six-pack.

Bitcoin Bulls: Hanging On Like a Cat on a Screen Door 🐈

The clock struck Sunday and, like clockwork, Bitcoin took a nosedive to $93,350 on Bitstamp. But this old hero never stays down, and sure as a sunrise in the Central Valley, it bounced back, nipping at the heels of big dreams and bigger liquidity pools.

Bids stacked up close to the spot, top and bottom, arrows cocked and ready – though some got filled and ended up like townsfolk in a gold rush: broke, but hopeful.

The wise men of CoinGlass squinted at the charts and found a cluster of ask liquidity at $96,420 – which sounds a lot like an area code for missed opportunity.

CrypNuevo, who always has an opinion, mapped out two bullish daydreams: one, to shoot for $98k and send the short sellers running for their mothers; the other, to trust in the 1D50EMA – whatever that is, it must be good.

Daan Crypto Trades, born with one eye on charts and the other on the doughnut box, saw a fresh “gap” on CME Bitcoin futures at $97,000. And everyone knows gaps never last long – they get filled like pie at Thanksgiving.

Rekt Capital, keeper of the weekly scrolls, glanced at the yearly open – a mystical line in the sand at $93,500. “Hold steady, you beautiful fool,” he thought, “and maybe the promised land lies just ahead.”

“Going forward, Bitcoin will need to hold the $93.5k Range Low to fully confirm a reclaim of the Range.”

Some say we’re set for new all-time highs. Others think it’ll tank like a sack of potatoes. The only thing everyone agrees on? You can’t look away.

#BTC

Bitcoin Price Discovery Roadmap

Bitcoin is trying to finalise its First Price Discovery Correction (green) to transition into its Second Price Discovery Uptrend (red)

(Prices and time horizons are not to scale)$BTC #Crypto #Bitcoin

The FOMC: Where Finance and Comedy Collide

Now, let’s talk about the week’s real soap opera: the FOMC. On May 7, the Fed gathers like a family reunion, with Jerome Powell presiding like the uncle everyone’s afraid of.

Hawkish, ornery, stubborn – the Fed’s got the bit between its teeth, vowing not to loosen rates despite an economy that’s wobbling like an old truck on a cattle drive. The eternal US trade war keeps inflation lurking, waiting to jump out like an IOU in your glovebox.

Donald Trump, never one to pass up a spotlight, is demanding lower rates and calling out Jerome like it’s open mic night at the comedy club.

Will the Fed lower rates, raise them, or just sip coffee and look mysterious? Place your bets, ladies and gentlemen.

🇺🇸 FOMC: This Wednesday, the Fed will decide whether to cut, hike, or keep rates unchanged.

What’s your prediction? 👇

The market expects absolutely nothing, which means everyone will be shocked when it happens. CME says only 5.2% chance of a cut. Optimists and gamblers need not apply.

Historically, Bitcoin and stocks like to get anxious ahead of FOMC meetings, hedging their bets like poker players with something up their sleeves (or absolutely nothing).

In the immortal words of analyst Michaël van de Poppe, “If a standard pre-FOMC correction takes place, then the go-to zone for entries is between $91.5-92.5K.” Just don’t tell your mother you’re gambling with the grocery money.

Whatever Powell says, someone somewhere will lose their shirt. The market loves drama, especially when it can blame a guy in a suit.

Recession Fears: It’s the Economy, Stupid! (Again…)

But wait, there’s more! Like bad weather at a picnic, recession talk is rolling in. Jobless claims drop on May 8, and Coinbase earnings too (now there’s a party you don’t want to miss).

Bitcoin, lately, is more sensitive to labor data than your cousin at Thanksgiving after too much wine. Stagflation, recession, economic slowdowns – it’s all on the menu.

Kobeissi, a reliable town crier in these parts, says 72% of Americans expect a recession in the next 12 months. The other 28% are probably too busy checking their Coinbase balances to worry.

When the outlook is grim, folks spend less. Or at least, they pretend they will until the new iPhone drops.

“All signs point to an economic slowdown.”

Meanwhile, Mosaic Asset’s newsletter offered a familiar tale: tariffs and trade wars are giving the GDP a proper knock on the head, but stocks keep crawling back. S&P 500 is recovering, proving you can’t keep a good bull down.

Since “Liberation Day” (which sure sounds like a holiday made up to sell NFTs), Bitcoin is up 15%. Well, tie me to a blockchain and call me Satoshi.

Bitcoin Dominance: The Final Countdown… 🎸

Crypto’s rumor mill has gone full tilt – altseason’s coming! Bitcoin’s market share swelled past 65%, making altcoins sweat like they’re at a spelling bee.

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Of course, some say “this time’s different.” Blackrock and Saylor are buying and tucking coins under their mattresses – not swapping for alts. HODL is the new black.

Sentiment: FOMO, Fear & Greed – the Old Family Recipe

Crypto Fear & Greed Index is chilling in “neutral.” Most folks pretend it means they’re rational. Santiment’s analysts (and their crystal balls) say the crowd used to predict doom, and – surprise! – that was “ideal buy time.”

Now, as price shivers near new plateaus, crazy-high predictions are back. Apparently, nobody remembers 2017, and that’s probably for the best.

This was the ideal buy time. After prices eventually hit a temporary plateau at the end of April, high price calls ($100K–$159K) are now greatly exceeding lower calls.

“This time it’s different, I swear.”

Bitcoin is steady. Social media chatter is up. Good news, bad news, who can really tell the difference? The bar keeps moving, and the crowd follows.

And so we wait, holding fast to our charts, our wallets, and the hope that this spring, finally, brings a harvest bountiful enough to buy a cup of coffee without a second mortgage. 🌱☕

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2025-05-05 10:15