$BTC May 9 Cryptocurrency Market Analysis (300 words)

Today, the crypto market experienced a strong surge, led by bullish momentum, with BTC breaking through the $100k mark, hitting a three-month high. The bullish trend has fully upgraded, and market sentiment is leaning towards optimism. Bitcoin's current price is around $102,900, with a 24-hour increase of approximately 4.3%. It rose from a low of $98,500 to a high of $103,767. After breaking through, buying pressure continued to strengthen, showing robust support. Ethereum surged significantly, reaching $2,470, up nearly 28%. Mainstream coins generally increased by 8%-16%, with SOL and DOGE leading the gains. The altcoin sector fully warmed up, with activity significantly rising.
The entire network experienced about $972 million in liquidations over the past 24 hours, with over 80% of these being short positions liquidated, indicating a sharp decline in bearish momentum. The Fear and Greed Index stands at 68, indicating a bullish zone, with sufficient buying power for further upward movement. On the news front, the US and UK reached a trade agreement, creating a more favorable macro environment. BTC spot ETFs are also performing strongly, with institutional buying remaining robust. Ethereum's Pectra upgrade has been implemented, releasing positive technical signals and further boosting the market.
From a technical perspective, BTC is in a bullish daily pattern, with a volume breakout on the 4-hour chart. Resistance is at 105,000-106,000, and support is at 100,000-99,000. ETH faces resistance at 2,500-2,550 and support at 2,380-2,350. The short-term strength continues, favoring a low-buying strategy, avoiding chasing highs. Light positions can be taken on dips around 100,000-100,500, with strict stop-losses. Watch for a strong breakthrough at 105,000.
⚠️Risk reminder: Cryptocurrency volatility is extremely high. The above analysis is for market reference only and does not constitute investment advice.