Here's the latest Bitcoin update for May 7, 2025:

Current Price and Market Status

Bitcoin's current price is $96,810, with a 3.18% increase, reflecting a rise of $2,983.78 from its opening price of $93,826.22. The cryptocurrency has seen a high of $97,732 and a low of $93,377.¹

Market Trends and Predictions

- *Bullish Sentiment*: Bitcoin bulls are holding strong, with a cluster of long positions forming around $94,400 in the futures market, potentially pushing prices to $97,500.

- *Institutional Demand*: Ongoing institutional demand, with BTC ETFs on track to book net inflows for a fourth straight week, could help lift BTC towards $100,000.

- *Fed Interest Rate Decision*: The Federal Reserve's interest rate decision and Chair Jerome Powell's tone could spark volatility in financial markets.² ³

Key Developments

- *New Hampshire Bitcoin Reserve*: New Hampshire has signed a law allowing the state treasurer to invest 5% of public funds into Bitcoin, potentially sparking a wave of Bitcoin adoption in state finances.

- *US-China Trade Talks*: Upcoming trade talks between the US and China could de-escalate the trade war, supporting Bitcoin's price.

- *Metaplanet's Bitcoin Purchase*: Metaplanet has reached the 5,555 BTC milestone with a $53 million purchase, totaling over $536 million at current prices.⁴$BTC