May 8th Bitcoin Market Overview

The market welcomes two major pieces of news: Trump will announce a significant trade agreement with major powers, while David Bailey plans to establish a $300 million Bitcoin investment company.

Driven by positive news, the Bitcoin price quickly rebounded after a dip to $93,000, reaching a high of $98,800, just a step away from the key resistance level of $100,000.

The current price is approaching strong resistance levels, increasing the risk of chasing gains in the short term.

It is recommended that investors hold Bitcoin in moderation; even a small allocation (such as 0.01-0.1 BTC) can capture potential upside, while closely monitoring market fluctuations and managing position risk appropriately.