Bitcoin turned some heads this May 7, 2025, with a surprise bounce that caught even seasoned traders off-guard. After a brief pullback earlier in the week, BTC shot up from around $95,000 to touch $98,500 before settling near $97,800—marking roughly a 3% gain in just a few hours.

What triggered the move? A mix of factors seems to be at play: a softer-than-expected U.S. jobs report shook traditional markets, pushing investors toward crypto as a quick hedge, while a few big whales quietly picked up coins, sparking a mini “short squeeze” in the process.

Technically, Bitcoin cleared the immediate resistance zone around $97K, which felt like opening floodgates for buyers today. Volume ticked up too, showing that this wasn’t just a fluke move.

Is this the start of something bigger? Hard to say, but the swift upswing definitely breathed new life into traders’ bullish dreams. For now, enjoy the ride—just keep your seatbelt fastened, because in crypto land, surprises are always around the corner. $BTC