From May 6 to 12, $BTC 2025, the Bitcoin (BTC) market exhibited a pattern of 'initial suppression followed by rise' and then high-level fluctuations. In the first half of the week, affected by profit-taking and technical adjustments, the price briefly dipped to $93,438. However, starting from May 6, bulls gained strength, breaking through the psychological barrier of $100,000, and reached a weekly high of $103,756 on May 9. Subsequently, the price fluctuated narrowly in the range of $103,000 to $105,000, closing at $103,864 on May 12, with a weekly increase of 10.20%.

Market driving factors include:

1. **Macroeconomic positives**: Optimistic expectations for China-US trade negotiations and the US-UK tariff agreement boosted risk appetite;

2. **Institutional movements**: Goldman Sachs increased its holdings in Bitcoin ETFs (28%), and support for Bitcoin policies from the US Vice President enhanced market confidence;

3. **Technical aspects**: After breaking through key resistance levels, a bullish arrangement was formed, but the RSI being overbought (75.14) indicates short-term pullback risks.

Although institutional ETF fund inflows are still below 2024 levels, market sentiment remains 'greedy' (index 70), and on-chain data shows that long-term holders continue to increase their positions, supporting price resilience. Caution is needed regarding the potential disruptions to future trends due to geopolitical and regulatory uncertainties.