Key takeaways:

Bitcoin holds $95,000 as Fed rate cut odds rise to 60% for June 18 and US economy slumps.

Breaking $95,000 could push BTC price toward $100,000, while dropping below $93,000 may bring the $84,000 back into the picture.

Key Bitcoin levels to watch remain around the long-term holders’ cost basis.

Bitcoin (BTC) is once again attempting to break above $95,000 on May 1 as markets price in that the US Federal Reserve might cut rates sooner than expected.

BTC/USD daily chart. Source: Cointelegraph/TradingView

Fed rate cut will drive BTC price higher

Data from Cointelegraph Markets Pro and TradingView showed Bitcoin edging higher hours after dipping below $93,000 following US GDP data that reflected a shrinking economy. 

A contracting economy will likely prompt the Fed to lower rates to stimulate activity sooner rather than later. This reduces yields on traditional assets like bonds, pushing investors toward Bitcoin and risk-on assets.

The odds of a Fed interest rate cut at the June 18 Federal Open Market Committee meeting have increased over the last week, from 57% on April 30 to 60% on May 1. 

Fed target rate probabilities for June 18 Fed meeting. Source: CME FedWatch

Rate cut expectations have historically been a bullish catalyst for risk-on assets and Bitcoin. For example, Bitcoin rallied more than 20% ahead of the last Fed rate cut on Dec. 18, 2024.

“Bitcoin surges back toward $95K, rebounding from bearish US GDP data,” said pseudonymous Bitcoin analyst BTCmoonmath in a May 1 post on X, adding:

“Traders anticipate a Federal Reserve’s easing and rate cuts in the future, despite a shrinking economy and low consumer confidence.” 

Focus now shifts to how the May 2 jobs report, which reveals how many jobs were added to the US economy in April, will impact the crypto market and, in turn, Bitcoin price.

Related: Bitcoin ‘aging’ chart projects sixfold BTC price rally above $350K

What next for Bitcoin price?

Currently, $95,000 is the key level traders are watching, and many analysts believe that a sustained push through the resistance zone above this area opens the door for a swift move higher.

“The price has recently surged above both key technical levels and is now attempting to consolidate within this zone,” Glassnode said in its latest Week Onchain report.

The market intelligence firm referred to the 111-day simple moving average (SMA) at $91,300 and the short-term holder (STH) cost-basis at $93,200. Bitcoin reclaimed these levels in the recent upward swing, highlighting the degree of strength behind the move.

“These are levels that must be broken and held for further price appreciation, as a rejection of this level would push the price back into bearish territory, and return many investors to a state of meaningful unrealized loss.”BTC/USD chart showing STH cost basis and 111-day SMA. Source: Glassnode

“Bitcoin is ready to blast through $96,000,” popular analyst AlphaBTC said in his latest analysis on X. 

According to the analyst, a decisive break above $95,000 could see BTC move out of consolidation, with the next logical move being toward the $100,000 psychological level.

“This is what I would like to see if Bitcoin can follow through today. A nice big squeeze into the low 100Ks.”BTC/USD four-hour chart. Source: AlphaBTC

Conversely, the analyst said that a drop below April 30 lows at $93,000 could see BTC/USD sink deeper toward the $84,000 and $88,000 range as shown in the chart above.

Fellow crypto analyst Daan Crypto Trades said added that if price consolidates without rejection and keeps grinding upward, then that should position BTC for a move higher toward the $100K region, he explained to his followers on X. 

BTC/USD hourly chart. Source: Daan Crypto Trades

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Banking giant Morgan Stanley reportedly plans to list cryptocurrencies on its E*Trade investment brokerage and trading platform.

According to a May 1 Bloomberg report, the firm intends to list crypto assets on E*Trade in 2026. The plan is still in early development, and the bank is said to be exploring partnerships with established crypto firms to power the service. Internal discussions about cryptocurrency support reportedly began in late 2024.

E*Trade homepage. Source: E*Trade

This would not be Morgan Stanley’s first exposure to digital assets. The bank’s wealthiest clients have had access to crypto exchange-traded funds (ETFs) and futures for some time, with the firm’s advisers allowed to pitch Bitcoin ETFs since August 2024.

Related: Morgan Stanley to explore crypto offerings for clients — CEO

Regulatory tailwinds push crypto forward

The news follows previous reports that Morgan Stanley was considering adding cryptocurrency trading to its E*Trade online brokerage platform in early January. The reports at the time cited the expectations of a friendlier crypto regulatory environment.

The move comes amid an increasingly favorable regulatory environment in the United States following the election of President Donald Trump, who campaigned on a pro-crypto platform and is personally involved in several blockchain ventures.

Related: Morgan Stanley discloses $188M in BlackRock Bitcoin ETF holdings

The first 30 days of the Trump administration brought significant changes to the local crypto industry. More recently, US crypto proponents have shown optimism following the swearing-in of pro-crypto Securities and Exchange Commission Chair Paul Atkins.

The SEC had significantly changed its stance even before Atkins took office. In late February, the agency had already paused multiple cryptocurrency enforcement cases with imminent deadlines.

This is a developing story, and further information will be added as it becomes available.

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Crypto exchange MEXC has announced a $300 million ecosystem development fund aimed at supporting Web3 projects over the next five years.

The initiative, unveiled at Token2049 in Dubai, is designed to support early-stage blockchain technologies, public chains, wallets, and decentralized tools critical to shaping the future of crypto infrastructure, according to a press release shared with Cointelegraph.

Selection criteria for projects looking to participate in the initiative will be announced soon.

“We are committed to strategic investment, focusing not just on exciting ideas and talented developers, but on initiatives with clear long-term potential,” MEXC chief operating officer Tracy Jin said.

She added that the priority is to back projects capable of achieving AAA status within three to five years.

Related: Binance rolls out Fund Accounts for asset managers, bridging crypto-TradFi gap

MEXC fund to invest $60 million annually

Jin explained that the exchange aims to invest approximately $50 to $60 million annually, depending on the availability of suitable projects and partners and the company’s strategic focus at the time.

“We may accelerate the investment pace if a project aligns well with our current business priorities. Otherwise, we will proceed steadily according to the original plan.”

She added that MEXC is actively exploring early-stage projects focused on blockchain networks, decentralized finance (DeFi) infrastructure, and stablecoins. She said these areas are essential for advancing crypto adoption.

During a fireside chat at the Token2049 conference in Dubai on April 30, Jin emphasized that stablecoins are a key priority for MEXC due to their essential role in enabling stable pricing and trade across crypto markets.

In February 2025, MEXC invested $20 million in USDe, a DeFi-native synthetic dollar from Ethena Labs, alongside a $16 million direct investment in Ethena itself.

Related: Binance, KuCoin, MEXC report service issues due to AWS network interruption

Projects need to prove their worth

The exchange also clarified that its $300 million fund will not operate through open applications but will instead adopt a selective, invitation-only approach.

According to the company, the traditional “submit a form and get funded” model no longer works in 2025. “A project that can’t make itself known or find a way to present to MEXC’s investment team is unlikely to earn our attention,” Jin said.

MEXC is one of the largest crypto exchanges in terms of trading volume. Over the past 24 hours, it has ranked as the 7th largest cryptocurrency exchange by spot trading volume, processing over $3.2 billion in trades, according to data from CoinMarketCap.

Source: CoinMarketCap

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