The post Bitcoin (BTC) Uptrend at Risk Ahead of Nvidia (NVDA) Earnings, Fed Minutes; XRP Holds Key Support Amid XRPFi Narrative appeared on BitcoinEthereumNews.com.

Bitcoin’s upward trend continued to show signs of weakness early Wednesday, even as Wall Street tech stocks surged overnight in anticipation of upbeat earnings from AI giant Nvidia (NVDA). The leading cryptocurrency by market value traded near $108,900 at press time, teasing a downside break of a trendline characterizing the uptrend from early April lows, according to data source Coingecko. Bullish trendlines indicate areas of strong demand, thus a move below one is generally seen as a sign of a potential reversal and a possible start of a downward move. BTC’s at trendline support. (TradingView) Prices have not been able to make significant gains this week despite a flurry of positive news, including stablecoin issuer Circle’s plans to file for an IPO and Trump Media’s plans to raise $2.5 billion to purchase bitcoin. On-chain activity suggests that large investors have recently begun distributing coins, contributing to the market’s selling pressure. “As of May 26, the >10K BTC cohort has pivoted to net distribution (~0.3), signaling a notable shift in positioning among the largest holders,” Glassnode said on X. The firm, however, added that overall, the market remains in an accumulation mode. Focus on Fed minutes and NVDA earnings Later Wednesday, the spotlight will be on minutes of the Federal Reserve’s May meeting, which will offer detailed insights into the committee’s stance on monetary policy and potential clues about future interest rate decisions. The central bank left the benchmark interest rate unchanged early this month, with Chairman Jerome Powell pointing squarely to President Donald Trump’s tariff war as a source of inflation and uncertainty. Powell also “stagflation” aloud. The minutes are likely to reiterate the same, although the recent tariff delay by Trump means the market may not pay much attention to hawkish messaging. Meanwhile, AI major Nvidia’s earnings announcement could…

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Filed under: News - @ May 28, 2025 12:22 pm