Bitcoin, Ethereum, XRP, Dogecoin Continue Trading Sideways As Fed Keeps Interest Rates Unchanged

Author: Khyathi Dalal | May 07, 2025 03:52pm

Major cryptocurrencies are trading slightly higher following the Federal Reserve keeping interest rates unchanged and China's liquidity boost to stimulate its economy.

Cryptocurrency	Price	Gains +/-
Bitcoin (CRYPTO: BTC)	$96,034.89	+1%
Ethereum (CRYPTO: ETH)	$1,792.80	+0.2%
Solana (CRYPTO: SOL)	$145.55	+0.4%
XRP (CRYPTO: XRP)	$2.10	-1.6%
Dogecoin (CRYPTO: DOGE)	$0.1700	+0.6%
Shiba Inu (CRYPTO: SHIB)	$0.00001262	+0.3%

Notable Statistics:

• IntoTheBlock data shows large transaction volume decreasing by 9.4% and daily active addresses growing by 3.2%. Transactions greater than $100,000 are down from 9,843 to 9,668 in a single day. Exchanges netflows are down by 140.2%.
• Coinglass data reports 102,179 traders were liquidated in the past 24 hours for $239.75 million.

Notable Developments:

• Ethereum’s Pectra Upgrade Goes Live: Here’s What You Need To Know
• Michael Saylor Calls Bitcoin The ‘Corporate Survival Strategy’ For 96% of Companies
• RabbitX Founder Eyes Real-World Assets And Liquidity Tokenization As The Future Of Perpetual Trading
• Treasury Sec Scott Bessent: US Should Be The ‘Premier Destination For Digital Assets’
• Anthony Scaramucci Gives Donald Trump ‘B+ Or A-‘ On Crypto But Warns Presidential Meme Coin, DeFi Project Risk Derailing Policy Progress
• Bitcoin Is No Longer Just Digital Gold — Native Staking, Yield Are Redefining Its Role, Says Core DAO
• Have Bitcoin? Need Cash? Strike Launches New Product Allowing Users To Borrow Up To $2 Million

Top Gainers:

Cryptocurrency	Price	Gains +/-
EOS (CRYPTO: EOS)	$0.7813	+13.8%
Stacks (CRYPTO: STX)	$0.8459	+10.2%
Zcash (CRYPTO: ZEC)	$39.78	+9%

Trader Notes: Crypto trader McKenna emphasized that Bitcoin's explosive rise from $15,000 post-FTX to $110,000 has occurred despite interest rates holding steady at 4.25%–4.5%, underscoring that the rally is not rate-driven.

Instead, he credits the move to structural adoption, particularly by institutions, and Bitcoin’s growing role as a non-sovereign store of value and hedge against capital controls.

The parabolic trend, he notes, reflects a global shift in perception rather than temporary macro factors.

Inmortal echoed this long-term bullishness, pointing out that after long stretches of vertical accumulation, there's usually a "banger move" and we may still see more upside before a major deviation.

Even in vertical accumulations we get this banger at some point.

We may have more upside before we have a deviation, but when it comes, I'll go big.$BTC pic.twitter.com/3tGmUp5kMD

— Inmortal (@inmortalcrypto) May 7, 2025

ShardiB2 kept it simple: "Bitcoin daily looks fine — Above blue line, green dots," signaling a continued uptrend.

$BTC daily looks fine

Above blue line, green dots pic.twitter.com/TtEi2sFvEI

— Don't follow Shardi B if you hate Money (@ShardiB2) May 7, 2025

Meanwhile, Crypto Seth advised traders to stay focused amid expected short-term volatility following Jerome Powell's speech. "This BTC cycle isn't done, we've still got more to go," he asserted, urging market participants to keep their eyes on the bigger picture.

Read Next: 

• Bitcoin Hovers Around $97,000, But A Correction May Be Around The Corner, Traders Warn

Image: Shutterstock

Posted In: $BTC $DOGE $EOS $ETH $SHIB $SOL $STX $XRP $ZEC