Bitcoin has strongly broken through again! Against the backdrop of a complex global macro environment and a sharp rise in geopolitical risks, BTC price once broke through $97,000, setting a new interim high. At the same time, military conflicts have erupted between India and Pakistan in the Kashmir region, escalating regional tensions, with safe-haven sentiment and market volatility both rising. Crypto assets, traditional finance, policy regulation, and blockchain applications are forming a highly interconnected complex situation.
Bitcoin stands at $97,000: Is this a pullback or the starting point for a new rally?
Latest data shows Bitcoin is currently priced at $97,018.29, with a 24-hour increase of 2.42%. Although the price has broken through an important psychological barrier, short-term volatility has intensified, reminding investors to pay attention to risks. Other mainstream cryptocurrencies are also showing a steady and slightly strong trend:
ETH price is $1,819.20, up 0.2%;
BNB price is $604.18, up 1.1%;
SOL price is $147.10, up 0.6% for the day;
DOGE price is $0.1726, up 1.4% for the day;
XPR price is $2.15, up 1.2% for the day.
As BTC reaches critical resistance levels, the market is brewing a new round of directional choices. If the price can consistently stay above $97,000, it may challenge the $99,000 or even $100,000 mark. However, if it encounters resistance and pulls back, the support area will fall around $95,000.
Geopolitical risks are escalating: India and Pakistan are exchanging fire in Kashmir.
According to the latest news from the Pakistan Armed Forces News Bureau, clashes have erupted between Pakistan and India along the Line of Control in Kashmir, and Pakistan has initiated ground and air military operations. The Indian Ministry of Defense immediately confirmed the launch of Operation 'Sindur,' targeting planning and command facilities controlled by Pakistan in Kashmir.
Military conflicts have sparked global attention, which could temporarily boost the demand for safe-haven assets like gold and Bitcoin, while also disrupting regional capital flows and foreign exchange markets. Investors should closely monitor the situation's development to guard against sharp price fluctuations caused by unexpected events.
Policy regulatory direction: Democrats directly target the Trump family's crypto layout.
At the policy level for crypto assets, the U.S. regulatory direction has undergone a key change again.
CFTC withdraws appeal against Kalshi: The U.S. Commodity Futures Trading Commission has withdrawn its appeal against the prediction market platform Kalshi, meaning that the crypto contract market related to elections can temporarily continue to exist.
Democrats propose to prohibit the President and family from investing in crypto assets: Senator Jeff Merkley has initiated a bill to prohibit the President and their family from issuing, investing in, or supporting cryptocurrencies, specifically targeting stablecoins and meme coins associated with the Trump family. The bill considers such actions as a conflict of interest that threatens national security.
This policy trend indicates that as Trump and his family delve deeper into digital assets, the future struggle around 'power + crypto' will become a focal point of regulatory and political confrontation.
U.S. state governments and Bitcoin: New Hampshire opens 'strategic reserves.'
New Hampshire signs HB 302 bill, officially allowing the state treasury to hold Bitcoin, up to 5% of the total state funds, with a maximum amount of $500 billion. The bill requires Bitcoin to be held by U.S. regulatory custodians, ensuring safety through multi-signature or exchange-traded products. This means that the state-level 'Bitcoin strategic reserves' model is transitioning from policy discussion to practical implementation, becoming a new template for U.S. local governments in digital asset allocation.
Blockchain technology and application innovation: ZKsync, Adidas, and Doodles continue to make strides.
ZKsync achieves complete EVM equivalence: Developers can directly deploy Ethereum Solidity contracts seamlessly onto ZKsync without special compilers. Although some instructions are unsupported and gas fees are slightly higher, it greatly reduces the development threshold.
Adidas releases Sui chain NFT blind boxes: Adidas announces the launch of 2,600 NFT blind boxes for the (Xociety) game, officially minted on May 16, supporting the Sui public chain and enhancing Web3 game narratives.
Doodles native token DOOD launches on Solana and airdrops: Users holding Doodles NFTs can pre-register through the official website to participate in the airdrop, and new community members will automatically receive the airdrop during the token generation event (TGE).
Financial market and institutional movements: New updates on ETFs, IPOs, and lending services.
Bitwise submits spot NEAR ETF application: Bitwise has submitted an application for a NEAR spot ETF to the U.S. SEC, custodied by Coinbase Custody, enhancing alternative investment channels for crypto assets.
WLFI tests USD1 stablecoin airdrop: WLFI has launched a Snapshot proposal to airdrop USD1 stablecoins to holders, aiming to test the on-chain airdrop functionality and reward early users.
Antalpha launches Nasdaq listing: Antalpha plans to issue 3.85 million shares of common stock, expected price range of $11-13. As a lending partner of Bitmain, its listing progress has attracted market attention.
Strike enters Bitcoin lending business: Strike, founded by Jack Mallers, offers Bitcoin collateralized loans ranging from $75,000 to $2 million, with an annual interest rate of 12%, which will not affect credit scores.
Global financial focus
Gold returns to $3,400: Spot gold rebounded to $3,400, with the daily decline narrowing to 0.9%.
Jensen Huang: China's AI market is expected to reach $50 billion: NVIDIA's CEO stated that the scale of China's AI market is expected to reach $50 billion in the next two to three years, and missing this opportunity would be a 'huge loss.'
California governor sues federal government: Newsom stated that California's port cargo volume has decreased by 35% due to tariff policies, and tourist numbers have declined for two consecutive months, deciding to sue the Trump administration.
Conclusion:
As BTC breaks through $97,000, regional conflicts erupt, and policies, regulatory trends, and innovative applications intertwine, the crypto market has entered a phase characterized by a 'multi-threaded script' overlay. Whether it be demand for safe-haven assets, policy stimulus, or technological innovation, any of these could act as a 'catalyst' for price fluctuations.
In this complex environment, investors need to rely more on data-driven intelligent analysis. Mlion.ai, through on-chain tracking, news parsing, and capital flow insights, can help you find clearer signals in a rapidly changing market, making trading decisions more timely and precise.
Disclaimer: The above content is for informational sharing only and does not constitute any investment advice! Investing carries risks, and caution is required when entering the market.