On May 7th, the market heard that U.S. Treasury Secretary Becent and Trade Representative Grill will meet with Chinese officials in Switzerland this week, sparking investors' optimistic sentiment about easing U.S.-China trade tensions. Asian stocks and the U.S. dollar both strengthened, driving BTC to rebound from its $93K low on May 6th, rising about 3.2% on Wednesday morning and reaching $97,700 before the gains receded. This news briefly boosted risk assets, but the results of U.S.-China negotiations remain uncertain, and market sentiment may fluctuate with subsequent developments.
Bitunix analysts suggest: Progress in U.S.-China negotiations may boost crypto market sentiment, but uncertainty remains. If BTC can hold above $94K, it may attempt to break through the previous high. Continue tracking changes in U.S.-China negotiations and pay attention to Thursday's Federal Reserve policy discussion, and adjust positions flexibly.
