Recently, Bitcoin has shown a fluctuating upward trend, with prices oscillating between $28,000 and $31,000. Driven by expectations of a slowdown in Federal Reserve interest rate hikes and risk aversion stemming from the banking crisis, Bitcoin briefly broke through the $30,000 mark in April, reaching a new high for the year. Institutional participation has rebounded, and news of giants like BlackRock applying for Bitcoin spot ETFs has boosted market confidence. However, regulatory pressures persist, as the SEC has sued exchanges like Binance and Coinbase, leading to short-term sell-offs that reflect the ongoing policy uncertainty in the cryptocurrency market. Technical analysis shows that $30,000 is a key resistance level; if it can be effectively surpassed, it could initiate a new round of upward movement, but caution is necessary regarding the pullback pressure from macroeconomic fluctuations and geopolitical risks.