Based on current market dynamics and on-chain data, the analysis of Bitcoin's trend for the next two days (May 9-10) is as follows:

### **Short-term Bullish Momentum**

1. **Technical Breakthrough**: Bitcoin has broken through $99,000, approaching the key psychological resistance level of $100,000. If it stabilizes in the $98,000-$99,500 range, technical indicators (such as the rising moving average system and the four-hour Bollinger Band upper limit breakthrough) indicate a potential quick surge to $100,000, or even testing the $103,000-$105,000 area.

2. **Institutional Funding Support**: The US Bitcoin ETF has seen continuous net inflows (with a net inflow of $142 million on May 7), and institutions like BlackRock are increasing their holdings, combined with corporate actions (such as Metaplanet's purchase), providing fundamental support for the price.

3. **Geopolitical and Policy Catalysts**: If the China-US trade talks release signals of easing, it may boost risk appetite; Trump's friendly stance towards cryptocurrencies and the delayed expectations of Fed rate cuts have been partially digested but still provide potential emotional support for the market.

### **Pullback Risk Warning**

1. **Key Resistance and Selling Pressure**: There is historical selling pressure from long-term holders around the $100,000 mark, and the negative Coinbase Premium Gap indicates that US investor sentiment is becoming cautious, which may limit short-term breakthrough momentum.

2. **Increased Leverage Risk**: Recently, leveraged trading volume has surged by 200%. If the price fails to stabilize at critical levels, high-leverage long positions being liquidated could trigger a 'whipsaw' market; short-term support needs to focus on $95,000 (four-hour level support) and $93,000 (daily level support).

### **Comprehensive Judgment**

The trend over the next two days may show a **initial surge followed by consolidation**:

- **If it breaks through $100,000**: FOMO sentiment may push it quickly up to $105,000, but caution is needed for pullbacks triggered by profit-taking;

- **If it is blocked and falls back**: It may consolidate within the $96,000-$97,000 range, waiting for further catalysts.

It is advisable to pay attention to statements from Fed officials and the progress of China-US talks, and to closely monitor changes in volume and the bullish-bearish competition around key resistance levels.