Bitcoin bounces as big tech earnings fuel optimism; short-term pressures remain

Your day-ahead look for May 1, 2026 What to know : Bitcoin climbed to about $77,400 alongside a broader rebound in risk assets after strong earnings from major U.S. tech companies bolstered sentiment. Despite the bounce, analysts say crypto remains under short-term pressure from reduced rate-cut expectations, spot bitcoin ETF outflows and heightened geopolitical risk, particularly around oil and the Strait of Hormuz. Traders are focused on the $80,000 resistance level for bitcoin and changes at the Federal Reserve.