💬 #green_lamp Why is Bitcoin rising today?

🪙 BTC is climbing again — on May 7, the price broke $97,000, gaining +3% in 24 hours.

📈 Trading volume: $31.7 billion (+37%)

What is fueling the rally?

🟠 USA vs China — is there again a 'peace'?

Rumors are circulating that Washington and Beijing are sitting down for negotiations. The US Treasury Secretary spoke of 'readiness for dialogue', and China nodded in response. The market has switched to risk-on mode, with crypto among the first.

🟠 The Fed is starting — all eyes on Powell

It’s unlikely rates will be touched (95.6% for 'no changes'), but the tone of the Fed Chair today will be key. A little more dovish tone — and Bitcoin could soar higher.

🟠 Short positions — pain

In a day, $84 million worth of short positions in BTC were wiped out. Long positions totaled only $15 million.

This resembles the short squeeze at the end of March when the price jumped by 6%.

🟠 Technicals give green light

BTC broke out of the range after a 'falling wedge' — a classic upward reversal pattern.

Key levels have already been reclaimed, including the start of the year — $93K.

Next on the path: $98K → $100,200.

⚠️ But don’t rush with the fireworks — a bearish divergence looms on the RSI.

📉 If BTC cannot hold $93K, there is a risk of sliding down to $90–87K.