**Key points:**

* Bitcoin attacks liquidity clustered close to spot price into the weekly close.

* Market commentators eye significant BTC price levels below $95,000.

* The Fed’s upcoming interest rate decision is the key macro event to watch next week.

Bitcoin (BTC) fell toward $95,000 into the May 4 weekly close as traders braced for more macro-induced downside.

_BTC/USD 1-hour chart. Source: Cointelegraph/TradingView_

## BTC price liquidations mount after 10-week highs

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retreating from multimonth highs toward the May open.

Hitting liquidity clustered around spot price, Bitcoin created a recipe for volatility as market participants discussed key levels.

“Dense longs cluster 95.7k-96k, heavy shorts 96.5k-97k right around current price (~96.2k),” popular trader TheKingfisher wrote in part of ongoing analysis on X.

> “These are price magnets. Expect chop/volatility as they get tested.”

_BTC liquidation heatmap. Source: CoinGlass_

The latest data from monitoring resource CoinGlass showed price colliding with buy liquidity, with the majority of asks clustered around $97,200.

With the past week seeing multiple liquidity “grabs,” some saw the potential for that behavior to continue as the key $100,000 mark edged closer.

> $BTC > > Gap and tap before liquidity grab at $100k is what I’m looking for here > https://t.co/akVEzc3Aaj pic.twitter.com/igCptK8VIp > > — NiFτy (@niftyinvest) May 4, 2025

“Positions from $94K-$97K flushed at weekend,” popular trader BitBull summarized.

Assessing the potential for a fresh dip, crypto trader, analyst and entrepreneur Michael van de Poppe said that BTC/USD had plenty of room to retest support while still maintaining its recent comeback.

“What I’d prefer to see on $BTC is that we’re holding above $91.5-92K,” he told X followers on the day.

> “That validates for me the continuation towards a new ATH as the previous > range support becomes support again.”

_BTC/USDT 1-day chart. Source: Micha el van de Poppe/X_

## Bitcoin downside expected into Fed rate cut decision

Expectations of volatility were high heading into the new week, with the US Federal Reserve due to decide on interest rates.

_**Related:**__**Bitcoin hodler unrealized profits near 350% as $100K risks sell-off**_

As Cointelegraph reported, the stakes for market sentiment are high before the event. Recession warnings and pressure from President Donald Trump combine with hawkish signals from Fed officials.

> NOTE: In less than a month, Trump has pressured Powell and the Fed to lower > interest rates three times already… pic.twitter.com/qaQc7zJnuw > > — Andre Dragosch, PhD⚡ (@Andre_Dragosch) May 2, 2025

The latest data from CME Group’s FedWatch Tool nonetheless maintains minimal odds of a rate cut on May 7.

_Fed target rate probabilities for May 7 FOMC meeting. Source: CME Group_

“Remind yourself that Crypto & Altcoins have the temper to be correcting in the week prior to the FED meeting,” Van de Poppe commented.

> “I suspect that we’d be having the end of that correction around Tuesday and > go up from there.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.