Bitcoin’s uptrend stands on shaky ground before Nvidia’s earnings and the Fed’s policy minutes.

Bitcoin’s Rally Shows Signs of Strain Ahead of Fed Minutes and Nvidia Earnings

Bitcoin’s bullish run encountered resistance early Wednesday as the cryptocurrency hovered around $108,900, nearing a crucial trendline established since April lows, according to Coingecko data. A break below this trendline could indicate a potential reversal in momentum.

Despite encouraging headlines—including Circle’s IPO filing and Trump Media’s $2.5 billion bitcoin acquisition plan—bitcoin prices have failed to sustain notable gains this week. On-chain analytics reveal that major holders (wallets with over 10,000 BTC) have shifted to net selling since May 26, increasing downward pressure, though overall market accumulation continues.

Market Focus on Fed Meeting Minutes and Nvidia Earnings

Investors are closely awaiting the Federal Reserve’s May meeting minutes due later today, which may shed light on future monetary policy and interest rate directions. Fed Chair Jerome Powell previously linked tariffs to inflation risks and mentioned stagflation concerns, but recent tariff delays could temper market reactions.

Simultaneously, Nvidia’s upcoming earnings report is expected to boost investor sentiment, with strong growth anticipated from AI-related hardware demand. The company’s commentary on AI market trends and challenges with China’s chip restrictions will be particularly influential.

XRP Retains Key Support Levels Amid Growing DeFi Interest

XRP managed to hold above its 200-day simple moving average, supported by rising enthusiasm around XRPFi—Ripple Ledger’s decentralized finance ecosystem. Strobe Finance highlighted that over $2 billion in XRP remains idle across roughly 4 million dormant wallets, vastly outnumbering the 1.7 million active ones. Unlocking this dormant capital through innovative DeFi solutions could accelerate liquidity and yield opportunities on the XRP network.