The intraday fluctuation range of Bitcoin ($BTC ) is between $96,263 and $97,838, with an increase of about 0.45%.

Market sentiment is becoming cautious, with investors focusing on the upcoming draft of the U.S. cryptocurrency regulatory bill.

Technical analysis indicates that Bitcoin has broken through the descending channel and flag pattern, with a short-term target pointing towards the $100,000 mark.

However, trading volume has not significantly increased, and the seasonal effect of 'Sell in May' may bring a risk of correction.

Currently, support levels are at $92,000 and $85,000, while resistance levels are at $100,000 and $107,000.

The market is at a critical juncture, and investors need to closely monitor policy dynamics and technical indicators to respond to potential volatility.