Bitcoin Rises on News

⬛Overnight on May 7, Bitcoin surged by $4,000, reaching $97,500. The rally was driven by news of upcoming trade negotiations between the U.S. and China, which boosted investor sentiment and eased market tensions. By morning, BTC had corrected slightly to $96,700, still up 2.5% over the past 24 hours.

⬛Amid Bitcoin’s strength, the overall crypto market gained 1.7%, pushing total market capitalization to $2.99 trillion. Despite a $85 million outflow from ETFs, BlackRock’s IBIT fund continues to attract inflows. The Fear & Greed Index climbing to 67 points confirms growing bullish sentiment, though regulatory uncertainty remains a risk.