Bitcoin surged to $97,000 on May 1, wiping out its recent short-term losses and marking its highest price level since February. The leading cryptocurrency rebounded sharply from lows of $75,000 in early April, recovering nearly 28% in less than a month. This move reflects growing investor appetite amid a broader risk-on mood in financial markets.

Glassnode data indicates that short-term holders—those who bought BTC within the past month—are back in profit. Historically, this shift has reduced selling pressure and occasionally signaled early bullish momentum. If current levels hold, the market may see further upside driven by renewed confidence and sidelined capital returning.

From a macro perspective, April’s U.S. jobs data showed stable hiring with 177,000 payroll additions and a steady unemployment rate of 4.2%. This reinforces expectations that the Federal Reserve will hold rates steady in its upcoming meeting, with possible rate cuts later this year—potentially a tailwind for Bitcoin and other risk assets.

The $100K mark remains a psychological magnet for retail traders. However, investors should remain cautious, especially if macroeconomic uncertainty or Fed surprises reintroduce volatility.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.