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Today, the crypto market is experiencing a rebound, with Bitcoin breaking above 97,000 and slightly retracing, while Ethereum (ETH) stands at 1,850 USD. Overall market sentiment has shifted towards greed.
Key Driving Factors:
1. China's Easing Policy Stimulus: The People's Bank of China announced today a reduction in the reserve requirement ratio and interest rates (the reserve requirement ratio lowered by 0.5%, policy rate reduced to 1.4%), releasing liquidity, boosting market risk appetite, and pushing BTC to surge by 3% during the Asian trading session.
2. Expectations for China-U.S. Economic and Trade Talks: Chinese Vice Premier He Lifeng will meet with U.S. Treasury Secretary Yellen from May 9 to 12, and the market interprets this as a signal of easing trade tensions, driving BTC prices to rise.
3. Institutional funds continue to flow in: BlackRock increased its holdings by 6,954 BTC in a single day, with the total net asset value of the ETF reaching 111.1 billion USD, indicating strong confidence in institutional positions.
4. Technical Breakthrough: BTC breaks through the key resistance of $97,000, with support at $93,523 and a short-term target of $100,000; ETH benefits from the upgrade, with support at $1,798 and resistance at $1,852.
Market Outlook:
The Federal Reserve's interest rate decision will be announced tonight. If the current rate (4.25%-4.5%) is maintained, the market may experience short-term fluctuations; if a dovish signal is released, BTC may accelerate its assault on 100,000.
Investment Advice:
Short-term follow BTC's breakthrough at 97,000 USD, and ETH can be positioned for upgrades at lower levels; be wary of volatility risks after the Federal Reserve's decision and manage positions wisely. Market sentiment is warming up, but be cautious of high-level pullbacks; those who are conservative may wait for clearer trend signals.