Analysis: Traders focus on the Fed meeting, current key support levels for BTC are $92,500 and $89,000

PANews reported on May 5 that according to CoinDesk, Bitcoin fell below $95,000 amid macroeconomic uncertainty and expectations of the Federal Reserve meeting. Analysts warned that prices could fall further, with key support levels at $92,500 and $89,000. Despite the decline, Bitcoin ETF net inflows still reached $1.81 billion last week, indicating continued investor interest.

Alex Kuptsikevich of FxPro noted that the market has returned to a key resistance zone that served as support from December to February, with the next downside targets being $92,500 and $89,000. A break below $90,000 would cause damage on both technical and psychological levels and fall below the 200-day moving average.