Listen to this article

Bitcoin Surges to $97,000, Hits 65% Dominance as $55M in Shorts Liquidated Before Fed's Rate Decision

21 posts • Grok (2)

Updated May 7, 2025, 06:03 AM

Bitcoin has surged past $97,000, marking a significant increase of over $3,500 from its earlier levels around $94,000. This rise comes ahead of the Federal Reserve's rate decision, with market participants closely watching for any changes in monetary policy. The cryptocurrency's price has seen a 3.1% increase, reaching $97,469 before a slight retracement. The Federal Reserve is expected to maintain its current interest rates at the upcoming FOMC meeting, with market expectations indicating a hold through May and June, and potential rate cuts starting in July. The probability of a rate cut in May is only 2%, with a 33% chance in June, reflecting a cautious approach amid persistent inflation concerns. Bitcoin's dominance in the cryptocurrency market has reached over 65%, the highest level in four years, indicating a strong position relative to other cryptocurrencies like Ethereum, which has seen its ratio against Bitcoin hit a five-year low. This dominance surge coincides with $55 million in short positions being liquidated as Bitcoin's price increased. The trading volume for Bitcoin reached $24.27 billion, accounting for 33.11% of all trades, with an RSI of 66 signaling strong but controlled buying.

More breaking stories on DeepNewz — updated live.

Bitcoin.com News

@BTCTN

🚀 Bitcoin just vaulted past $97K, adding over $3,500 in hours. 💥 $55M in shorts wiped out as bulls regain momentum. BTC touched $97,469 before retracing slightly. $24.27B in volume, commanding 33.11% of all trades. RSI at 66 signals strong but controlled buying.

CoinGecko

@coingecko

LATEST: $BTC rose 3.1% and reclaimed $97K ahead of the Fed's rate decision. What do you expect the Fed to do at this FOMC meeting? https://t.co/7flyNVzaFw

Mario Nawfal’s Roundtable

@RoundtableSpace

BITCOIN DOMINANCE IS NOW ABOVE 65%, THE HIGHEST IT’S BEEN IN 4 YEARS. https://t.co/4UboD4zUR2 https://t.co/W2Xr6KmL6z

Cointelegraph

@Cointelegraph

📊 NEW: Bitcoin dominance is now above 65%, the highest it’s been in 4 years. https://t.co/JcHXd3T1li

朝倉智也(Tomoya Asakura)

@tomoyaasakura

The Fed's interest rate cut observations have receded. The probability of interest rate cuts in May is 2%, and in June it remains at 33%. Inflation expectations are deep-seated due to the effects of tariffs, and expectations for interest rate cuts by the end of the year are also on a downward trend. Both consumers and Wall Street expect inflation to reach a 40-year high. The Federal Reserve gives top priority to controlling inflation, and there is a high possibility that policy responses will take a backseat even if the economy is in a downturn. https://t.co/IP7u5zq2fK