As of this Wednesday, April 29, 2026 morning, Bitcoin price is positioned above $77,000.
Thus, digital currencies are showing a recovery in price. Recall that yesterday, as reported by CriptoNoticias, prices fell below $76,000 following the news that the United Arab Emirates will leave the Organization of the Petroleum Exporting Countries (OPEC).
The following graph shows the situation so far. Bitcoin movements in the past 7 days:
As shown in this news headline, this rise in Bitcoin occurred on the same day. Federal Reserve President Jerome Powell gives his final speech on interest rates. Starting next month, the organization’s chairmanship will be in the hands of Donald Trump’s proposed candidate, Kevin Warsh, although legislative approval for his appointment is still pending.
According to the survey, market expectations are that the Fed is not expected to announce any interest rate changes today. These will continue at around 3.75% year-over-year. Anyway, Powell’s remarks in his speech could shake up markets (including the price of Bitcoin).
The situation is not good on geopolitical issues.. According to a Wall Street Journal report, “President Trump has instructed his advisers to prepare for a prolonged blockade of Iran (…) aimed at attacking the regime’s coffers in a risky attempt to force a nuclear surrender that Tehran has long rejected.”
While this is happening, oil prices are rising. As of this writing, a barrel of Brent crude oil is above $114, a level not seen since 2022, as seen in the chart below.
CriptoNoticias explains: oil price rise (The alarming situation of global inflation) Usually those are not good things for Bitcoin.
Therefore, if there is a difficult geopolitical and macroeconomic environment; Why are digital currencies increasing in price so much? Zaheer Ebtikar, director at Split Research, believes that “the oversupply has finally cleared and sellers wary of macroeconomic changes and quantum uncertainty have already exited, making the market on the seller’s side much smaller than it was just a few months ago.” According to him, this “makes Bitcoin much less sensitive to regulatory noise and central bank policy.”
As a trader and analyst, Michael van de Poppe isn’t worried about Bitcoin’s volatility todayThis is likely due to the accumulation of important announcements to be made in the future.
The FOMC will be held today, and GDP statistics will be released tomorrow. There are many important events coming up and the market often collapses before them. The rise is strong and indicates that further gains are expected in the future. On shorter time frames, the lows and highs are getting higher and higher, supporting my theory that Bitcoin’s target range for May is $85,000 to $88,000.
Michael van de Poppe.
at the moment, Bitcoin shows resilience and strength in an adverse economic environment. You will have to wait over the next few hours or days to see how the price changes.
