$BTC

According to market dynamics on May 9, 2025, the analysis of Bitcoin (BTC) news today is as follows:

1. Macroeconomic and Policy Benefits

Expectations for Fed Rate Cuts Rise

CME interest rate futures show that the probability of a rate cut in June has risen to 78%, with expectations for liquidity easing strengthening, driving funds towards Bitcoin and other risk assets. Coupled with the preliminary approval of the Bitcoin Reserve Bill in Texas, if five more states follow suit, it is expected to bring in $5 billion in buying power annually.

Accelerated Compliance Processes

New Hampshire has passed a state-level Bitcoin Reserve Bill, and Japanese listed company Metaplanet and other institutions continue to increase their BTC holdings, with a total holding exceeding $536 million. The U.S. SEC's softened stance on state-level crypto reserve plans injects confidence into the market.

2. Market Sentiment and Capital Dynamics

Institutional and On-Chain Data Support

The number of non-zero Bitcoin addresses has reached 48.5 million (a historical high), with long-term holders (HODLers) accounting for 69.1%, limiting selling pressure.

The probability of an Ethereum spot ETF approval has risen to 70%. If approved, it may trigger a capital siphoning effect, indirectly boosting BTC market enthusiasm.

Short-Term Sentiment Fluctuations

After Bitcoin broke through $100,000, the total liquidation amount across the network within 24 hours reached $968 million, with short sellers liquidating $836 million (the highest in six months), leading to increased risks from high-leverage trading in the market.