As of May 3, 2025, the price of Bitcoin (BTC) is fluctuating around $96,244 USD, with a daily high of $97,838 USD and a low of $95,936 USD.

🔍 Technical Analysis

• Pattern Breakout: Bitcoin has broken out of the descending channel pattern and the descending flag pattern, indicating strong bullish momentum. However, the RSI shows that the price is rising sharply, but low trading volume may be a sign to proceed with caution.

• Support and Resistance Levels:

• Resistance: $100,000 and $107,000.

• Support: $92,000 and $85,000.

🏛️ Macroeconomic Factors

• National Bitcoin Reserve Proposal: The U.S. government has signed an executive order to establish a "Strategic Bitcoin Reserve," expected to hold approximately 200,000 BTC from confiscated assets to strengthen the U.S. position in the cryptocurrency space.

• Bitcoin ETFs and Institutional Confidence: The approval of Bitcoin ETF funds has facilitated institutional investors entering the market, increasing confidence and capital flow into BTC.

📈 Price Forecast

• Short-term Forecast: BTC price may continue to rise to $100,000 in the near future if the current bullish momentum is maintained.

• Long-term Forecast: Some experts predict that BTC price could reach $150,000 to $200,000 by the end of 2025, thanks to the participation of institutions and governments.

✅ Conclusion

Bitcoin is in a strong upward trend, supported by positive technical and macroeconomic factors. However, investors need to closely monitor key support and resistance levels, as well as pay attention to trading volume to assess the strength of the trend.