Bitcoin Dips Below $94,000 As Traders Eye Potential Short-Term Top
Posted On May 6, 2025
Bitcoin (CRYPTO: BTC) is down 0.5% over the past 24 hours as traders eye a potential local top one day before the Federal Reserve announces its interest rate decision
What Happened: Crypto trader Astronomer said on Tuesday there’s a chance Bitcoin may form a short-term top around the FOMC meeting.
He cautions this signal is weak by itself and shouldn’t trigger trades without supporting data.
The keyword is “may,” reiterating his approach of acting only on firm signals and logic-based setups.
While FOMC events have historically triggered >85% accurate reversals, this time the strong quarterly uptrend could override that pattern. …
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