1. Bitcoin breaks $95,000, over 110,000 liquidations in 24 hours

Price Dynamics: Bitcoin broke the $95,000 mark this morning, reaching a high of $95,000, currently quoted at around $94,835 - $94,861, with a 24-hour increase of 1.44%. Mainstream coins like Ethereum, Ripple (XRP), and Dogecoin are also rising.

Liquidation Data: Due to extreme volatility, over 110,000 people in the cryptocurrency market were liquidated in the last 24 hours, with total liquidations amounting to $275 million (approximately 2 billion RMB), including $170 million in long liquidations and $110 million in short liquidations.

Leverage Risk: The average leverage ratio for Bitcoin futures contracts currently exceeds 20 times, with price fluctuations exceeding 5% potentially triggering large-scale liquidations. Experts warn that high leverage and high volatility pose major risks to the market.

2. Arizona, USA passes Bitcoin Reserve Bill

Policy breakthrough: Arizona House passes two bills (SB 1025 and SB 1373) allowing state treasury and pension systems to invest up to 10% of available funds in digital assets like Bitcoin, becoming the first state in the U.S. to promote public funds allocation to cryptocurrency. The bills have been submitted for the governor's signature, and if enacted, could trigger other states to follow suit.

Potential impact: This move could bring billions of dollars in institutional funds into Bitcoin, further solidifying its status as 'digital gold.' Missouri, Texas, and others are also studying similar legislation.

3. Institutions predict Bitcoin could reach $200,000 by 2025

Standard Chartered: Predicts Bitcoin will rise to $120,000 in Q2 2025 and attempt to reach $200,000 by the end of the year, driven mainly by U.S. investors' 'de-dollarization' demand and the enhanced safe-haven attributes of Bitcoin.

Matrixport: Points out that liquidity in the crypto market is improving, and if the trend continues, Bitcoin may break through the $100,000 mark in the coming months.

Technical Analysis: 10x Research believes Bitcoin faces resistance around $94,000 - $95,000 and may experience short-term consolidation before breaking through $100,000.

4. Other Important Developments

Regulation and Compliance:

U.S. Senator Elizabeth Warren calls for an investigation into the meme coin TRUMP launched by Trump, questioning its potential violation of federal anti-bribery laws.

The U.S. Congress plans to advance legislation on stablecoins and the digital asset market structure before August, with relevant hearings scheduled for May 6.

Industry Progress:

Cambridge University report: The proportion of sustainable energy used in Bitcoin mining increases to 52.4%, with natural gas replacing coal as the largest energy source.

Abu Dhabi Sovereign Fund: In collaboration with several institutions, plans to launch a dirham-backed central bank regulated stablecoin to further expand cryptocurrency application scenarios.

BlackRock IBIT ETF: Bitcoin holdings reach 573,000 coins, narrowing the gap with competitor Strategy to 20,000 coins.

5. Risks and Market Concerns

Policy Uncertainty: The EU's (Regulation on the Markets in Crypto-Assets) (MiCA) will come into effect by the end of 2024, potentially causing short-term liquidity shocks.

Technical Risks: Issues such as smart contract vulnerabilities and exchange security remain. For example, the QuantMaster project suffered losses of hundreds of thousands of dollars due to malicious code implanted by an employee.

Bitcoin is approaching the $100,000 mark driven by favorable policies and institutional funds, but high leverage, regulatory uncertainties, and technical risks remain key challenges for the market. Investors should pay attention to critical variables such as the Federal Reserve's monetary policy, institutional fund inflows, and global legislative developments.