The rapid surge today, with the first state in the U.S. signing a Bitcoin strategic reserve and the favorable stimulus from the China-U.S. tariff negotiations, also includes factors from yesterday's short sellers covering their positions.

The impact from the news is uncertain; even if the 97800 level is broken, it may just be a short-term 'false breakout'.

It is expected that a strong resistance level will form around 98500.

In contrast, the speech by Federal Reserve Chairman Powell and the evening's interest rate meeting are the key factors influencing market sentiment.