Bitcoin Price Hits $97K: Can It Break $100K Before FOMC Announcement?

Monicah W

The post Bitcoin Price Hits $97K: Can It Break $100K Before FOMC Announcement? appeared first on Coinpedia Fintech News

Today, the crypto market is expected to be highly volatile as all eyes turn to the U.S. Federal Reserve’s upcoming policy decision. The Federal Open Market Committee (FOMC) is holding its scheduled meeting on May 6–7 to assess the economic outlook and understand the future of U.S. interest rates. The FOMC, led by Chair Jerome Powell



Finance



will announce its decision at 2 PM Eastern Time on May 7 (11:30 PM IST).

Initially, there were expectations of a full percentage point of cuts due to concerns over Trump tariffs. But now they expect a smaller 0.75% cut for the year. Powell has repeatedly said that the Fed needs to wait for clarity on Trump’s policies before making any decision. 

Some analysts also believe the Fed could signal the end of Quantitative Tightening (QT), a policy that has been draining liquidity from markets since 2022. Treasury Secretary Scott Bessent will meet Chinese officials in Switzerland this weekend to discuss any possible tariff changes.

As the US and China are looking to ease the ongoing trade tensions, Bitcoin has already started climbing again, reaching around $97,000, and many altcoins are turning green as traders prepare for possible positive news. Although Bitcoin dominance remains high—now above 65%, this could shift soon, opening the door for altcoin season.

Bitcoin Price Prediction Today:

Bitcoin is showing signs of recovery, and the price is now approaching a resistance zone between $96,100 and $97,400. If Bitcoin can hold above $95,300, the upward trend could continue, possibly forming a stronger move higher.

So far, the current bounce is looking good, but it’s too early to confirm a full trend reversal. A pullback could still happen, and how the price reacts next will help confirm whether this recovery continues or if more downside is coming.

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Analyst Predicts XRP Price To Reach $1,000 If This Happens

Analyst Predicts XRP Price To Reach $1,000 If This Happens

Financial commentator Patrick Bet-David says the XRP price can rise to $1,000 per token if manages to snag a portion of SWIFT’s transaction volume. Only 5% of SWIFT’s volume will see token prices soaring to $100 with Bet-David highlighting potential stumbling blocks.

XRP Price To Clinch $1,000 In The Near Future

According to Bet-David, XRP has a chance to reach the $1,000 mark after a lengthy period in the doldrums. To achieve the milestone, the financial commentator disclosed that XRP will have to match SWIFT’s transaction volume but even a slice will send prices rallying.

SWIFT, a global payments processing platform, processes $5 trillion daily or $1.24 quadrillion annually. Bet-David argues that the XRP price can reach $100 if the XRP Ledger can handle between 5%-10% of SWIFT’s daily volume. Per the analyst, the ledger will have to process $125 million annually to reach 10% of SWIFT’s transaction volume.

In order to reach $1,000 per token, the XRP Ledger has to fully match the entirety of SWIFT’s transaction volume. At the moment, the XRP Ledger only handles a fraction of the volume but rising institutional adoption sees it inch forward.

Stablecoins on the ledger like RLUSD are tipped to lead the charge to grab a portion of SWIFT’s daily transaction volumes. There is growing enthusiasm that XRP can be the cornerstone of US financial policy as it turns toward stablecoin adoption. For Bet-David, a jolt will come in the form of an SEC case dismissal, setting it up for borader institutional investment.

“Analysts estimate that a $10 trillion market cap could push XRP’s price to $100 per token, with full replacement potentially driving it to $1,000,” said Bet-David.

XRP Recovers After A Steep Price Crash

XRP price is trading at $2.20 climbing by an impressive 6% over a 24-hour period. The recovery follows a week marred by declining values and rising whale activity in the ecosystem.

Despiute the small rally over the day, XRP has lost over 10% in the last seven days, sparking fears that XRP has topped in this cycle. Despite the decline, the network has a streak of positives going on for it as a silver lining for investors.

XRP active addresses surged to 1.15 million in the middle of a steep market correction, signaling a market frenzy. In upbeat XRP news, Franklin Templeton has filed for an XRP ETF, accentuating a wave of positivity for the beleagured network.

In conservative fashion, market expert Dark Defender says XRP can hit $280 by 2027 if the 2017 bull run repeats itself.

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IMX Surges 10% As Immutable Partners with Ubisoft for a New Mobile Game

Immutable (IMX) is up 10% today after announcing a partnership with Ubisoft. The pair is releasing a new mobile game based on the “Might and Magic” series as part of Ubisoft’s broader Web3 strategy.

Immutable is planning to expand its gaming operations after the SEC dropped an investigation against the firm last month. The company is yet to announce more details about this new project.

Ubisoft Extends Its Web3 Venture

The past few years have been financially straining for Ubisoft, one of the largest and most popular AAA studios in the gaming industry. Known for its beloved gaming series, such as Assassin’s Creed, Tom Clancy’s Rainbow Six, Far Cry, and more, the studio has been slowly expanding into the blockchain space for some time now.

Ubisoft hasn’t directly partnered with Immutable before, but it has shown a lingering interest in the intersection of Web3 and gaming. The firm leveraged Ethereum’s blockchain technology six years ago, a partnership that is active and ongoing.

Today, the studio announced a new mobile game, which both parties seem optimistic about.

“Partnering with Ubisoft is a defining landmark for Immutable. There are clear synergies between Immutable Passport, Immutable Play, and Ubisoft Connect. By bringing these together into a combined offering for Might and Magic Fates players, we’re hoping to smoothly onboard into the Immutable ecosystem the 138+ million Ubisoft Connect users,” said Justin Hulog, Immutable’s Chief Studio Officer.

Earlier this year, Ubisoft was on the brink of fiscal insolvency. Unsuccessful gaming titles and a lack of sales almost paralyzed the company. The gaming community has constantly criticized the studio for forcing microtransactions without prioritizing gameplay.

However, the success of its latest release, Assassin’s Creed: Shadows, helped Ubisoft somewhat recover. Yet, the company still needs additional revenue streams to regain forward momentum.

For Ubisoft, a partnership with Immutable might provide the key. Blockchain gaming fell slightly in Q1 2025, but it started the year in an inflated market.

Blockchain Gaming in 2025
Blockchain Gaming in 2025. Source: DappRadar

Immutable, for its part, has a lot to gain from the Ubisoft partnership. The blockchain gaming company received a Wells Notice from the SEC last year, but the Commission dropped its investigation in March.

Soon after, the firm started accelerating its Web3 expansion. The Ubisoft deal is a major accomplishment, and it helped push its IMX token upwards by 10%:

immutable imx price chart
Immutable (IMX) Daily Price Chart. Source: BeInCrypto

That said, the press release is very light on details about the actual game and the specific Web3 connection. Ubisoft’s announcement calls Might and Magic “one of the strongest IPs in gaming” but doesn’t mention Immutable’s role in the project.

The new title is set to be a card-based game with potential crypto-backed rewards. More details are expected in the coming days.

The post IMX Surges 10% As Immutable Partners with Ubisoft for a New Mobile Game appeared first on BeInCrypto.

US States Accelerate Crypto Mining and Bitcoin Reserve Bills in March 2025

March 2025 is witnessing a significant wave of changes in how US states approach cryptocurrency. Several states are actively introducing and passing legislative initiatives to promote crypto adoption.

Recent developments over the past week indicate a clear shift. US lawmakers no longer see cryptocurrency solely as a speculative asset but as a strategic part of the financial future.

Kentucky: Protecting Bitcoin Rights and Crypto Mining

One of the most notable advances this month comes from Kentucky. On March 24, the state governor signed the “Blockchain Digital Asset Act” (HB701) into law after the state Senate passed it with an overwhelming 37-0 vote.

This law protects residents’ right to self-custody Bitcoin while also legalizing and incentivizing crypto mining. It signals that Kentucky aims to safeguard individual rights in the crypto space and position itself as a potential blockchain mining hub.

With abundant energy resources from coal and hydropower, the state has a competitive advantage in attracting crypto-mining companies. Data shows that Kentucky accounts for 11% of the US Bitcoin hashrate.

North Carolina: Crypto in Pension Funds and Strategic Reserves

North Carolina lawmakers are taking things a step further by proposing cryptocurrency integration into the public financial system.

According to Bitcoin Law, Bill H506, introduced on March 24, allows up to 5% of the state’s public funds to be invested in digital assets. Similarly, Bill S709, which also permits a 5% public fund allocation, was submitted to the Senate on Tuesday.

Additionally, Bill H92 proposes allocating up to 10% of public funds to purchase digital assets as a strategic reserve.

If passed, these initiatives would mark a major turning point. North Carolina could become one of the pioneering states using cryptocurrency to protect public funds from inflation and economic volatility. Lawmakers are accelerating discussions, with expectations of a decision in the coming weeks.

Arizona: Advancing Toward Digital Asset Reserves

Arizona is also joining the race. The state’s House Rules Committee recently approved two bills: The Digital Assets Strategic Reserve Fund Bill (SB1373) and The Arizona Bitcoin Strategic Reserve Act (SB1025).

SB1373 allows the creation of a digital asset reserve funded by assets seized in criminal cases managed by the state treasurer. The treasurer can invest up to 10% of the reserve annually and lend assets to generate additional revenue as long as financial risks remain controlled.

Meanwhile, SB1025 permits the Arizona state treasury and pension system to invest up to 10% of their funds in Bitcoin. If a federal Bitcoin reserve fund is established, Arizona’s Bitcoin reserves could be securely stored in a separate account within that fund.

Additionally, last week, the Oklahoma House passed the Strategic Bitcoin Reserve Bill (HB1203).

This bill allows the Oklahoma State Treasurer to invest public funds from the State General Fund, Revenue Stabilization Fund, and Constitutional Reserve Fund in Bitcoin and other large-market digital assets (those with a market cap exceeding $500 billion), as well as stablecoins.

Half of the US States Have Introduced Bitcoin Reserve Bills

According to Bitcoin Law, 23 out of 50 US states have introduced Bitcoin reserve bills. Matthew Sigel, Head of Digital Assets Research at VanEck, believes that if enacted, these bills could drive significant Bitcoin purchases.

us state bitcoin reserve map
States Have Introduced Bitcoin Reserve Bills. Source: Bitcoin Law

“We analyzed 20 state-level Bitcoin reserve bills. If enacted, they could drive $23 billion in buying, or 247,000 BTC. This sum is independent of any pension fund allocations, likely to rise if legislators move forward,” Sigel predicted.

With support from the Trump administration, including the establishment of a Federal Strategic Bitcoin Reserve on March 7, states are seizing the opportunity to reshape their financial policies.

The post US States Accelerate Crypto Mining and Bitcoin Reserve Bills in March 2025 appeared first on BeInCrypto.