$BTC

The current Bitcoin price is in the $96,000 range, closely related to the market's phased adjustment:

1. Short-term resistance suppression: On-chain data shows that the $96k-$98k range is a historically dense holding area, with about 370,000 addresses cashing out at this cost line;

2. Halving effect lag: After the halving in April 2024, the new supply will decrease by 63%, but miner selling pressure still exists, with a current daily net outflow of 1,820 BTC;

3. Institutional dynamics differentiation: BlackRock's IBIT holding growth rate has slowed to an average of 2.3% per week, while the Salvadoran government has increased its holdings by 500 coins against the trend. CoinCodex predicts a potential breakthrough of $112k in early June, and attention should be paid to the impact of the Federal Reserve's interest rate decision on dollar liquidity on May 8.