According to Michaël van de Poppe (@CryptoMichNL), Bitcoin is maintaining its position above a crucial support area, indicating ongoing market strength. Meanwhile, Ethereum is outperforming Bitcoin at the start of the week, coinciding with a notable upward move in the CNH/USD exchange rate. Traders should closely monitor Bitcoin's support levels and Ethereum's relative strength, as well as the impact of Chinese Yuan volatility on crypto market flows (Source: Twitter/@CryptoMichNL, May 5, 2025).

According to Crypto Rover on Twitter, Bitcoin has reached a new all-time high of $97,000 as of May 1, 2025 (source: Crypto Rover Twitter). This significant price milestone signals increased institutional and retail trading activity, with heightened volatility expected in the short term. Traders are closely monitoring resistance near the $100,000 level and support at $95,000 for potential breakout or correction signals. The rapid price movement has led to increased trading volumes and renewed interest in Bitcoin derivatives, making risk management and stop-loss strategies critical for active traders (source: Crypto Rover Twitter).

According to Michael Saylor's recent tweet, banks are now authorized to support Bitcoin, potentially leading to increased institutional adoption and liquidity in the cryptocurrency markets. This development is expected to influence Bitcoin trading volumes and volatility, as traditional financial institutions begin to offer Bitcoin-related services. Traders should monitor this trend closely as it may present new opportunities and challenges in the crypto market landscape.