Bitcoin Price Today: Trades Steady Near $107K Amid Fed and Inflation Uncertainty.
Bitcoin edged slightly lower on Friday, trimming recent gains as market sentiment cooled amid uncertainty surrounding the Federal Reserve’s rate-cut outlook and an upcoming key inflation report. Despite posting modest weekly gains—alongside broader cryptocurrencies—on the back of a U.S.-brokered Israel-Iran ceasefire that continues to hold, investor caution returned due to concerns over the Fed’s independence. President Donald Trump intensified his criticism of Fed Chair Jerome Powell and called for immediate rate cuts, unsettling markets. Although increased corporate interest, including fresh Bitcoin purchases by Japan’s Metaplanet, supported crypto sentiment earlier in the week, major tokens traded mostly flat to lower on Friday as attention turned to Fed policy and inflation data.
Ethereum approaches a critical resistance level at $2,461, and a breakout above this barrier could spark fresh bullish momentum.
Ethereum has rebounded nearly 10% since Monday, trading just below the key resistance level at $2,461 through Thursday and into Friday’s session. A confirmed breakout and daily close above $2,461 could pave the way for a move toward the next resistance at $2,724. Conversely, a rejection at this level may lead to a pullback, potentially retesting Sunday’s low of $2,111.
XRP is facing difficulty maintaining a break above its 50-day Exponential Moving Average (EMA) at $2.20, with the latest rejection hinting at possible short-term bearish pressure.
Ripple (XRP) found support near the $1.96 daily level on Monday and rebounded nearly 9%, but encountered resistance at the 50-day EMA, leading to a 3.68% pullback by Thursday. As of Friday, XRP is trading around $2.10. A decisive daily close above the 50-day EMA at $2.21 could pave the way for a move toward the May 23 high of $2.47. On the flip side, continued weakness may drive XRP back down to retest the $1.96 support level.
ADA faces the prospect of deeper losses.
Cardano (ADA) is up 1% as of Friday, staging a modest rebound after two straight days of losses. However, price action continues to trend lower within a descending channel, with bearish momentum still dominant. Rising profit-taking pressure has turned the MVRV ratio negative, while a drop in Open Interest signals a flush-out of bullish bets. The technical setup leans bearish, hinting at a deeper correction if the downtrend persists. A daily close below the $0.55 level could pave the way for a move toward the weekly low of $0.52, with $0.50 acting as key psychological support.