$BTC Bitcoin (BTC) Surpasses $97,000 Amid Market Optimism
As of May 7, 2025, Bitcoin (BTC) has surged past the $97,000 mark, reaching a 24-hour high of $97,513. This upward movement reflects a 2.41% increase, with the current price hovering around $96,645.
Analysts attribute this rally to positive developments, including reports of potential reconciliation between the U.S. and China, which have bolstered investor confidence. However, caution is advised as the momentum may be short-lived without further catalysts.
Traders are closely monitoring key support levels, particularly around $95,200. A sustained position above this threshold could indicate continued bullish sentiment, while a drop below may suggest a return to consolidation.
Additionally, the market is awaiting the Federal Reserve's interest rate decision scheduled for later today. Any indication of rate cuts could further influence Bitcoin's trajectory. $BTC $
