Bitcoin News Live Update｜May 10, 2025

——Breakthrough of $100,000, Crypto Market Experiences 'Nuclear Explosion' Level Trends

1. Price Dynamics

Bitcoin Makes Historic Breakthrough: In the early hours of May 9th, Beijing time, Bitcoin's price first surpassed $100,000, reaching a high of $104,000, with a 24-hour increase of 6%. Its market capitalization exceeded $2.05 trillion, surpassing the market sizes of many countries' stock exchanges, ranking among the top five global assets.

Ethereum Follows Suit: Ethereum (ETH) also surged, with a daily increase of nearly 28%, breaking through $2,400 and setting a new high since 2024. Other mainstream cryptocurrencies such as SOL, DOGE, and ADA also saw increases of over 10%.

2. Driving Factors

Policy Benefits: The United States and the United Kingdom reached a tariff easing agreement, lowering tariffs on certain goods, cooling market risk aversion, and accelerating fund inflows into crypto assets. New Hampshire and Arizona passed legislation allowing government funds to be allocated to Bitcoin, and El Salvador continues to increase its BTC holdings.

Institutional Whales Entering: Wall Street institutions like BlackRock increased their holdings of over 100,000 BTC through ETFs in one week, holding 8% of the circulating supply; MicroStrategy announced plans to invest $84 billion in BTC over the next two years.

Federal Reserve Easing Expectations: Although interest rates remain unchanged, Powell hinted at a potential early end to the balance sheet reduction, with market expectations for interest rate cuts rising within the year, highlighting Bitcoin's anti-inflation properties as 'digital gold.'

3. Market Response and Risks

Liquidation Wave Intensifies: Over 230,000 people were liquidated across the network within 24 hours, with liquidation amounts reaching $1.014 billion, as high-leverage contract trading led to both long and short liquidations amid drastic price fluctuations.

Technical Breakthrough: Bitcoin broke through the key resistance range of $101,000-$106,500. If it stabilizes above $100,000, Standard Chartered predicts it may surge to $200,000 by the end of the year.

4. Future Outlook

Deepening Institutional Trends: The 'Bitcoinization' of corporate balance sheets, government strategic reserve plans, and continuous ETF fund inflows may further imbalance long-term supply and demand, potentially driving prices higher.

Regulatory and Volatility Risks: The US SEC may tighten ETF reviews, and DEXs face KYC pressures; easing geopolitical conflicts may lead to short-term corrections.