Bitcoin price is critical support: Eyes Fed and Nvidia

Crypto markets started next week cautiously. Bitcoin (BTC) price is traded around $ 108,900 as of Wednesday morning, while the ongoing rise since the beginning of April has approached the trend support. This trend line represents strong demand zones according to technical analysis. Breaking may indicate the loss of rise acceleration and the beginning of a potential decrease trend.

Bitcoin, despite the positive news flow this week did not gain significant momentum. For example, developments such as Stablecoin exporter Circle’s public offering plan and Trump Media’s $ 2.5 billion Bitcoin purchase fund did not create a strong reaction in the market.

WALLINALS ARE THE DISTRIBUTION

On-Chain Analysis company Glassnode announced that the large wallets that hold over 10,000 BTC as of May 26 have started to distribute net. This means that sales pressure may increase. Despite the distribution, the company emphasizes that there is still a tendency to accumulation in the market.

What will the Fed minutes say?

The focus of the investors has minutes about the May meeting of the US Federal Bank (FED), which will be announced today. This document will reveal how the Committee’s approach to the interest policy and how President Jerome Powell evaluates “Stagflation” concerns.

Powell said in his latest statements that the trade wars initiated by President Donald Trump with customs tariffs created pressure on inflation. However, Trump’s postponement of some tariffs leads to comments that the hawk (Hawkish) messages in the minutes may be less effective in the market.

Nvidia earnings can affect the crypto

Another focal point in the crypto market will be the artificial intelligence giant Nvidia (NVDA). The company’s income report, which will be announced on Wednesday evening, will reveal the return of investments made in AI infrastructure. Since there is a historical positive correlation between Nvidia shares and Bitcoin, the powerful earning report can also support digital assets.

In addition, the company’s projections on how to take positions against chip exports to China and the future projections for AI demand will be effective on the perception of investor.

XRP: It remains on support with defi hope

Ripple’s local presence has managed to stay on the 200 -day simple moving average (SMA) in the XRP. Technical indicators indicate that the price is still in the Taurus area with the Ichimoku cloud.

There is a rising narrative behind this movement: Xrpfi - Defi applications on the Ripple network. According to a blog post released by Strobe Finance, Ripple’s Defi projects using the home chain of EVM aims to direct large amounts of idle XRP to products that provide return.

“Our community research shows that more than 4 million passive XRP wallets have an XRP of approximately $ 2.15 billion. This is a great potential waiting to be evaluated with defi,” the statement said.

In summary:

Bitcoin is technically testing trend support.

Nvidia earnings and Fed minutes will play a key role in determining the market direction.

Glassnode reports that large investors are on sale.

XRP manages to remain above technical support with XRPFi expectations.

Bitbiet continues to closely monitor these important developments that will determine the direction of crypto markets.

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