$BTC Bitcoin is trading around $75,170 as of April 29, marking a sharp decline from its recent high near $98,200. The drop appears to be driven by a rise in 10-year Treasury yields following stronger-than-expected consumer confidence data, which has weighed on risk assets.



On-chain data, however, remains relatively stable. Exchange reserves have fallen for five consecutive days, with over 18,000 BTC moved into cold storage since Sunday, suggesting reduced immediate selling pressure despite the price drop.

Looking ahead, the next Fed rate decision on May 6 will be a key catalyst. Unless there’s a surprise hawkish shift, Bitcoin may attempt to stabilize in the $73K–$80K range in the short term. A recovery above $82K could signal a move toward $88K–$90K. On the downside, if $73K fails to hold, a deeper pullback toward $70K is possible.

For now, patience remains the edge in a volatile market.

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CryptoDiscovery
· 19h ago
good information for sharing 💯
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