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Bitcoin bulls rush into long positions ahead of May 7 Fed FOMC interest rate decision

  • Bitcoin investors increased long positions ahead of the Federal Reserve's May 7 FOMC interest rate decision expected to impact markets.
  • This event follows easing trade tensions and rising institutional demand amid Bitcoin's post-halving cycle influencing market sentiment.
  • Data shows a $189 million rise in Bitcoin futures open interest with a 15% volume increase, while bulls defend the $94,000 support level.
  • Analysts note that macro events amplify emotions but do not define Bitcoin's trajectory, with historical cycles driving long-term movements and $100K forecasts.
  • The FOMC decision and Powell's tone may trigger volatility that could influence Bitcoin's short-term direction and validate a bullish market thesis.
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Cointelegraph broke the news in on Tuesday, May 6, 2025.
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