Bitcoin continues its strong performance today, currently quoted at $96,901, a slight decrease of 0.03% compared to yesterday, but it has accumulated a 3% increase over the week, briefly approaching the high of $98,000 during the session. On the technical front, Bitcoin has broken through the key resistance level of $95,000, with the daily chart showing the MACD golden cross and the red bars continuing to expand, while the RSI is close to the 70 overbought region but shows no significant divergence. The Bollinger Bands are opening upwards, indicating strong bullish momentum.

Core driving factors:

1. U.S. Federal Reserve's favorable policy: The FOMC meeting on May 1 maintained interest rates, and released signals that a rate cut may come earlier, stimulating the rise of risk assets, with Bitcoin's correlation to gold rising to 0.62, reinforcing its 'digital gold' property.

2. Institutional capital inflow: Grayscale Bitcoin Trust saw an inflow of $16 million in a single day, and last week Bitcoin ETF inflows exceeded $3.2 billion, with institutions accelerating their layout through compliant channels.

3. Increased on-chain activity: The number of active addresses rose to 1.1 million (a 15% weekly increase), with significant large transactions (over $100,000) increasing notably, and the 24-hour trading volume reaching $33 billion, indicating higher market recognition.

Risk warnings:

- As the price approaches the psychological barrier of $100,000, it may face short-term profit-taking pressure, with the four-hour chart showing MACD top divergence signals, necessitating caution for a technical pullback.

- The Federal Reserve's cautious stance on inflation may delay the pace of rate cuts, and if economic data exceeds expectations, it could trigger market volatility.

Market outlook: If it stabilizes above $97,000 and breaks through $100,000, it may initiate a new round of upward momentum; if there is a pullback, the support area of $94,000-$95,000 can be seen as an entry opportunity.