Bitcoin consolidates at $94K; analysts eye breakout amid US Fed uncertainty

Flagship cryptocurrency Bitcoin continues to trade within a narrow consolidation range, showing minimal price movement. Although it briefly climbed past $97,000, it has since slipped below $95,000 and was last seen trading around $94,338.87, lower by 0.42 per cent as of 11:31 AM on Tuesday, May 6.

According to CoinMarketCap, Bitcoin has fluctuated between $93,631.90 and $95,193.19 over the past 24 hours. The world’s most valuable cryptocurrency, with a market capitalisation of $1.87 trillion, recorded a 24-hour trading volume of $22.31 billion.