Bitcoin Hits $94,000: Is A Major Correction Coming?

As the crypto market begins a slight pullback at the start of this week, bitcoin records a moderate decline to 94,132 dollars. A technical correction occurring after a peak near 98,000 dollars last Friday. Should this be seen as a simple temporary slowdown or a deeper warning signal?

Bitcoin takes a step back

After flirting with 98,000 dollars last Friday, bitcoin (BTC) begins a technical correction this Monday by falling back to 94,132 dollars, a 1.45% decrease over 24 hours. The overall crypto market also falls by 1.06%, reaching a capitalization of 2.93 trillion dollars, while stock markets remain generally stable.

This BTC pullback comes after a week marked by a strong rebound driven by good U.S. employment figures for April. However, uncertainties related to Donald Trump’s tariff policies seem to weigh on risk appetite. As a result, investors turn to safe havens like gold — up 2.38% to 3,320.60 dollars per ounce — or bitcoin, despite its volatility.

Slowdown or warning signal?

This bitcoin decline happens in a context where several factors could significantly influence its development this week.

• First, the decision of the U.S. Federal Reserve (Fed) on interest rates, expected on May 7, is being closely watched. Jerome Powell’s comments could cause significant market movements and investors are likely withdrawing their bitcoin as a precaution.
• Next, recession fears are fueling demand for bitcoin, especially amidst trade tensions between the United States and China. In this environment, BTC attracts investors seeking protection against economic risks. In this specific case, this drop below 94,000 dollars would be only temporary.

Furthermore, this correction does not discourage institutional players, as Michael Saylor announced the purchase of 1,895 BTC for about 180 million dollars. His company now holds 555,450 BTC, a strong signal of confidence in bitcoin’s long-term value.

Despite an apparent correction, bitcoin therefore retains the confidence of major investors and remains supported by an uncertain macroeconomic context. The 94,000 dollar threshold could well be just a step before a new upward momentum, provided the Fed does not deliver an unexpected chill, given that Jerome Powell refuses to lower rates.