Bitcoin’s upward trajectory appears precarious as it flirts with a crucial trendline today, May 28, 2025. Despite the buoyant mood on Wall Street, driven by expectations of stellar earnings from Nvidia, the leading cryptocurrency lingers near a pivotal juncture that could spell trouble. The market’s eyes are fixated on upcoming Nvidia earnings and the Federal Reserve’s minutes, both events carrying the potential to sway the digital asset landscape.
Bitcoin’s Delicate Dance
Bitcoin’s price, hovering around $108,900, is at risk of slipping below a key support line that has underpinned its ascent since early April. A breach of this trendline often signals a shift towards bearish sentiment, and a potential reversal could be on the horizon. Despite a slew of positive news, including Circle’s IPO ambitions and Trump Media’s hefty Bitcoin acquisition plans, the crypto giant has struggled to gain significant momentum this week. This struggle is reminiscent of the seasonal patterns discussed in Bitcoin Traders Brace for ‘Sell in May and Go Away’ as Seasonality Favors Bears.
On-chain data paints a picture of shifting sands. Notably, large Bitcoin holders, those with over 10,000 BTC, have begun distributing their coins, adding to the market’s selling pressure. Glassnode highlighted this development, noting a pivot to net distribution as of May 26. Still, they underscore that the broader market remains in accumulation mode, a dichotomy that leaves the future uncertain.
Eyes on Nvidia and Fed Minutes
The cryptocurrency market is holding its breath as Nvidia prepares to unveil its earnings. Historically, there’s a positive correlation between Bitcoin and Nvidia’s performance, and the expectation of robust earnings from the AI powerhouse has market participants on edge. Nvidia’s investments in AI infrastructure and its outlook on demand, coupled with geopolitical tensions over chip exports to China, could ripple through the crypto market.
Simultaneously, the Federal Reserve’s May meeting minutes, due later today, are eagerly anticipated. These could provide clues about the central bank’s monetary policy trajectory, particularly after it left interest rates unchanged this month. Fed Chair Jerome Powell has pointed to trade tensions as a source of economic uncertainty, so any insights into the Fed’s thinking could impact market sentiment. This anticipation mirrors the focus on economic indicators highlighted in Crypto Daybook Americas: All Eyes on Jobs, Fed as Bitcoin Prepares for Breakout Rally.
XRP’s Resilient Support
Meanwhile, XRP—Ripple’s native cryptocurrency—continues to hold its ground. Trading above the 200-day simple moving average (SMA), XRP benefits from a growing narrative around XRPFi, or decentralized finance on the XRP Ledger. The excitement stems from Strobe Finance’s initiative to tap into Ripple’s EVM sidechain, aiming to unlock dormant XRP for DeFi opportunities.
A staggering 4 million inactive XRPL wallets hold an estimated $2.15 billion in XRP, a dormant treasure trove waiting for compelling DeFi avenues, as noted by Strobe Finance. This context places XRP in a bullish zone, riding above the Ichimoku cloud and the crucial SMA, both acting as strong buyer support since April.
Looking Ahead
As Bitcoin navigates these choppy waters, the market remains on tenterhooks. Will Nvidia’s earnings and the Fed’s minutes provide the clarity or impetus needed to steer Bitcoin away from the brink? Or will the looming uncertainties tip the scales towards a downturn? The coming days will likely be pivotal, with stakeholders across the crypto sphere watching closely for any signs of affirmation or apprehension.
Source
This article is based on: Bitcoin Uptrend at Risk Ahead of Nvidia Earnings, Fed Minutes; XRP Holds Key Support Amid XRPFi Narrative
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
