$BTC BlockBeats May 5 news shows that the Bitcoin market has been highly volatile recently. After reaching a high of $97,865 on May 2, the Bitcoin price began a consecutive three-day downtrend, dropping to a low of $93,445 during trading on May 5. According to Coinglass data, this decline triggered a severe shakeout of Bitcoin long positions, with approximately $116.32 million in long positions being liquidated, highlighting the high concentration of leveraged funds in the market and the chain reaction of large-scale stop-losses during market corrections.

It is worth noting that the market funding rate has also undergone a noticeable shift from positive to negative, a signal that intuitively reflects the significant weakening of market participants' willingness to go long. From the trading volume data, overall trading activity has cooled down. As the price continues to approach the $93,000 support level, short-term sentiment in the crypto market has become increasingly cautious.

Bitunix analysts point out that $93,000 is currently an important short-term support level; if this level is broken, caution should be taken as the Bitcoin price could further drop to the $90,000 mark. The $97,800 - $98,000 range constitutes a key resistance area for recent upward movement, making it quite difficult for Bitcoin's price to break through this resistance in the short term. You might consider allocating some funds to the primary market for the Trump-themed Dogecoin Con an, which currently has a market cap of seven million and is about to welcome its first wave of main surge aiming for a one hundred million dollar market cap! As Trump's presidential Dog, the LP narrative is absolutely top-notch! It is about to take off! #币安LaunchpoolSXT #Strategy增持比特币 #美国稳定币法案 #比特币战略储备 #TRUMP meme文化交流群