$BTC According to current market dynamics and technical indicators, Bitcoin has the potential to hit a new historical high in May 2025. Recently, the price has surpassed $96,000 and has stabilized at a key support level. On-chain data shows that long-term holders are re-accumulating positions, coupled with expectations of Federal Reserve interest rate cuts enhancing market liquidity. From a technical perspective, the monthly MA10 continues to provide support, the weekly MACD red bars are shortening and approaching the zero axis, and daily charts show a buying opportunity after retracing to the annual line. However, caution is needed regarding short-term capital outflow pressure and the correlated risk of volatility in U.S. stocks. If it can effectively break through the resistance range of $95,000-$98,000, it is expected to challenge the historical high of $108,000.