Shocking! Bitcoin price breaks through $97,000, and the reason behind it is amazing!

The latest news on May 7, 2025, according to the Crypto King’s official account, the progress of Sino-US trade negotiations has pushed the price of Bitcoin above the $97,000 mark. The market reacted quickly, trading volume surged, and short positions were liquidated significantly. With the announcement of the progress of the negotiations, investors' optimistic expectations for the macroeconomic outlook were quickly reflected in the market, driving up the price of Bitcoin. In particular, market sentiment further heated up after the positive remarks of Treasury Secretary Scott Bessent.

Data shows that only shortly after the announcement of the negotiations, about $55 million of short positions were closed, showing the high leverage risk and volatility of the market. At the same time, Nasdaq futures and Bitcoin rose together, showing the synchronous reaction of digital assets and traditional markets. The price of Ethereum also broke through $1,800, and other cryptocurrencies also rose. The price of traditional safe-haven asset gold fell, and investors were more inclined to flow funds to the digital currency market.

Peter Chung of Presto Research said: "As gold prices retreated, Nasdaq futures and Bitcoin rose almost in sync, indicating that the news of the U.S.-China trade negotiations had a profound impact on the market." This trend once again proves that Bitcoin is closely related to global economic policies, and the market's enthusiasm for investing in blockchain technology and cryptocurrencies is growing.