Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13285
Markets: 101142
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
America's Social Casino

Market Cap
24h Vol
13285
Cryptocurrencies
64.44%
Bitcoin Share
CoinDesk 2025-05-07 07:46:43

Bitcoin Sees Selling at $97K, Cardano’s ADA Leads Majors Gains Ahead of FOMC Meeting

Bitcoin Sees Selling at $97K, Cardano’s ADA Leads Majors Gains Ahead of FOMC Meeting

Bitcoin surged above $97,000 late Tuesday, then slid to $96,500 in Asian hours Wednesday as India conducted airstrikes in parts of Pakistan to intensify tensions from the past few weeks. A planned meeting to discuss U.S. and China tariffs sent risk assets higher in the hours since the U.S. stock market closed on Wednesday, as reported , but those gains reversed as news of India’s “Operation Sindoor” emerged in the early hours. Traders expect to see more volatility in the days ahead as the regional tussles further damage risk-taking sentiment among traders, though eventually leading to a move higher as bitcoin is perceived as a hedge. “Volatility in the markets is soaring as bitcoin surges to $97K from the intensifying conflict between India and Pakistan,” Nick Ruck, director at LVRG Research, told CoinDesk in a Telegram message. “This is in addition to plans by the US and China to discuss a trade deal this week. This upward movement came as a surprise, as investors were de-risking positions ahead of a decision by the Fed about changing interest rates. Geopolitical uncertainty and macroeconomic volatility may send Bitcoin to new highs as a hedge against greater market risks,” Ruck added. Cardano’s ADA led gains among majors with a 3% bump in the past 24 hours, adding to gains from Tuesday. Dogecoin (DOGE), XRP, BNB Chain’s BNB and ether (ETH) added less than 2%, while legacy tokens Bitcoin Cash (BCH) and Litecoin (LTC) surged as much as 10%. The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market cap, added nearly 2%. Meanwhile, some traders said bitcoin’s surge in the past weeks was coupled with a spike in active addresses — a metric of wallet activity that some consider a sign of oncoming volatility. “Bitcoin’s recent rally to the $87,500–a spike in active addresses backs $97,500 range (now at a 6-month high) pointing to rising demand and renewed network activity,” Ryan Lee, chief analyst at Bitget Research, told CoinDesk in a Telegram message. “This surge supports a bullish case for a potential breakout toward $100K, though confirmation depends on multiple indicators aligning,” Lee said, mirroring separate analyst commentary from the past week. “Traders should also monitor macro conditions, Bitcoin dominance, currently nearing the 55% mark, and rising hash rates. Meanwhile, Ethereum trades in a narrower $1,600–$1,900 range, still lagging behind BTC’s momentum, with sentiment more muted amid fewer catalysts and cautious capital rotation into altcoins,” Lee added.

Most Read News

Moralis Money
Market Cap
24h Vol
64.44%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.