Analysis of the double positive drivers of the market on May 7 Today, the market ushered in two key positives:
The China-US tariff dialogue started:
The Ministry of Commerce of Country Z officially announced that the Vice Premier will hold talks with US Treasury Secretary Yellen on tariff issues during his visit to Switzerland from May 9 to 12, sending a signal of easing bilateral relations.
The Digital Asset Reserve Act was implemented:
A bill was approved, authorizing state finance departments to allocate digital assets such as Bitcoin, with a maximum holding limit of 5% of reserve funds, injecting policy support into the crypto market.
Stimulated by the above positive factors, Bitcoin rose to the key level of US$98,000 in a short period of time, and then fell back slightly. Given that the results of the tariff negotiations will be announced on the 12th, it is expected that the positive effects will continue to ferment, and it is recommended to be cautious in shorting during this period.
Bitcoin is currently in a wide range of 92,000-100,000 US dollars. Investors can pay attention to the opportunities of selling high and buying low in the range.
