Bitcoin, Ethereum, XRP, Dogecoin Start FOMC Week Sluggish: 'Dips Are Gifts, Resume Up Only,' Trader Says

Author: Khyathi Dalal | May 05, 2025 02:14pm

Major cryptocurrencies are off to a muted start this week as traders brace for the FOMC meeting and key macroeconomic data that could shape the market’s next move.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$94,789.50	-0.6%
Ethereum (CRYPTO: ETH)	$1,823.86	-0.2%
Solana (CRYPTO: SOL)	$146.88	-0.01%
XRP (CRYPTO: XRP)	$2.15	-0.6%
Dogecoin (CRYPTO: DOGE)	$0.1722	+0.2%
Shiba Inu (CRYPTO: SHIB)	$0.00001284	+1.3%

Notable Statistics:

• IntoTheBlock data shows large transaction volume decreasing by 3.5% and daily active addresses falling by 11.6%. Transactions greater than $100,000 are down from 7,749 to 6,732 in a single day. Exchanges netflows are up by 53.8%.
• Coinglass data reports 76,897 traders were liquidated in the past 24 hours for $224.40 million.

Notable Developments:

• Corporations Will Pour $330 Billion Into Bitcoin By 2029: Bernstein
• Bitcoin’s Key Level Is $96,500, Analyst Warns, But Here’s What Could Trigger A Breakdown
• US Stablecoin Legislation Will Transform Crypto, Says Sui Foundation’s Christian Thompson
• Elizabeth Warren Slams ‘Shady’ Deal Involving Trump Family-Backed USD1 As Democrats Withdraw Support For Senate Crypto Bill (CORRECTED)
• Strategy Acquires 1,895 BTC For $180 Million As Bitcoin ETFs Bounce Back With $1.8 Billion Inflow
• Ripple Commits $25M To US Teachers And Classrooms Via RLUSD Stablecoin

Top Gainers:

Cryptocurrency	Price	Gains +/-
Four (CRYPTO: FORM)	$2.57	+16.5%
Core (CRYPTO: CORE)	$0.7388	+11.8%
Bittensor (CRYPTO: TAO)	$378.01	+9%

Trader Notes: Crypto trader Kaleo remains bullish, calling recent Bitcoin dips "gifts" and reaffirming his "resume up only" stance.

#Bitcoin / $BTC

Dips are gifts, resume up only. pic.twitter.com/VBl8TciRQm

— K A L E O (@CryptoKaleo) May 5, 2025

Stockmoney Lizards offered a cautionary take—predicting many will correctly call Bitcoin to $150,000 this cycle but still lose money by overtrading.

potential retracement to $89,000 aligns with the 61.8% Fibonacci retracement, and the trader urges calm: trust the market structure, don't overreact.

Crypto Bully shared that he took profit and hedged before the current pullback.

He remains unworried unless BTC breaks below $88,000, which coincides with VWAP from the lows, a key fib level, and a high-volume node.

He expects a period of consolidation or slow upward grind heading into the FOMC meeting.

Meanwhile, Roman flagged last week's failure to close above resistance as a warning sign.

The current move looks like a bearish retest, and low volume on both daily and weekly timeframes suggests the uptrend lacks conviction.

Without stronger buying pressure, Roman expects further downside in the short term.

$BTC 1W

Last week we failed to close above resistance and as it stands we are still seeing a breakdown and bearish retest.

I keep saying volume on 1D and 1W are not confirming a strong uptrend.

Lower is likely for now. pic.twitter.com/GiyDteZZrh

— Roman (@Roman_Trading) May 5, 2025

Read Next: 

• Bitcoin Could Hit $450,000, Raoul Pal Says: ‘Don’t Screw This Up’

Image: Shutterstock

Posted In: $BTC $CORE $DOGE $ETH $SHIB $SOL $TAO $XRP