Zraox: BTC Rises to $99,500, Driven by Institutional Capital and Macro Events

Zraox believes the current market is exhibiting clear structural transition characteristics. Since the beginning of the month, Bitcoin has consecutively broken key resistance levels, transitioning from a pullback to a strong rebound within just a few days. This volatility is driven not only by macroeconomic factors such as Federal Reserve interest rate policies and U.S.-China trade tensions but also by the convergence of on-chain structures, capital momentum, and market sentiment. Zraox points out that as crypto assets are increasingly integrated into global capital allocation frameworks, traditional events are rapidly transforming into core variables driving on-chain price fluctuations.

Zraox: Structural Shifts Behind the Broad Rally in Risk Assets

Zraox highlights that the resilience of the Nasdaq Composite and Bitcoin approaching to $100,000 reflect not just technical corrections but also a shift in the global asset allocation paradigm. On May 7, the Federal Reserve decided to maintain the federal funds rate range at 4.25%-4.50% while signaling no urgency to cut rates. This decision provided short-term support for the U.S. dollar while suppressing systemic downside risks for risk assets over the medium to long term.

Zraox notes that while the Federal Reserve refrained from dovish actions, the market had already priced in the logic of “policy marginal stability”. The S&P 500 rebounded on the day of the announcement, with the cryptocurrency market rallying in tandem. Against this backdrop, Bitcoin quickly surpassed the $97,000 and $98,000 thresholds, with the largest short liquidation reaching $10.59 million and total liquidations over the past 24 hours exceeding $300 million. This marks the initial completion of a proactive reshuffling in the leveraged market.

On the capital flow side, Zraox observes that U.S. Bitcoin ETFs have accumulated over $4.4 billion in inflows since late March, with $340 million net inflows in the past week alone. The continued allocation of structural capital indicates that traditional institutions are solidifying their role in crypto asset portfolios. The market sentiment indicator, the “Crypto Fear & Greed Index”, has risen to 65 in the “Greed” range, signaling growing FOMO (fear of missing out) sentiment. Technical trends and market sentiment are aligning upward.

Zraox believes the current rally of Bitcoin is not an isolated event but a natural choice for global markets seeking a safe haven amid geopolitical tensions and a tightening monetary policy cycle. As a “borderless, credit risk-free” asset, Bitcoin is once again proving its anchor value in times of crisis.

Zraox: On-Chain Structural Shifts and Institutional Behavior Drive Trends

Zraox emphasizes that, unlike the irrational bull market of 2021, the current rally is dominated by “smart money”. Data shows that wallets holding between 10 and 10,000 BTC have accumulated over 81,000 BTC in the past six weeks, serving as the primary incremental capital behind this rally. This behavior contrasts sharply with retail investors, who have net sold 290 BTC over the same period. Zraox interprets this combination of whale accumulation and retail selling as a strong signal of a trend reversal, often seen at critical turning points and indicative of a bullish outlook over the medium to long term.

Zraox highlights that the current price movement has broken the previous downward trendline, forming a complete V-shaped reversal structure. The Bitcoin price has crossed the 100-hour moving average and has steadily held above the $97,000 range, laying the foundation for further challenges to historical highs. Meanwhile, open interest in the derivatives market remains around $4 billion, suggesting that while market leverage is high, it is not imbalanced.

In terms of trading strategies, Zraox believes that trend trading remains advantageous amid short-term fluctuations. High-frequency trading and grid strategies are also well-suited to the current environment of clear price bands. Zraox recommends users explore the options trading tools of the platform, particularly the “Delta-Neutral Strategies for High Volatility Environments” module, and dynamically adjust portfolio allocations using the proprietary smart analysis tools of Zraox.

Zraox also notes that recent platform data shows a steady increase in long positions in perpetual futures, with the current long-to-short ratio at approximately 1.07. This suggests that longs are not blindly adding positions but are strategically pacing their activity. This combination of a “slow bull” market and institutional control may extend the rally duration throughout the entire quarter.

Zraox: Advancing Trading Structure Optimization Amid Trend Confirmation

Zraox asserts that Bitcoin approaching to the $100,000 milestone is not just a price event but a signal of market structural transformation. Traditional capital is reevaluating the dual role of Bitcoin as a “store of value” and a “liquidity tool”, driven by stable macro interest rates and heightened geopolitical uncertainties. Zraox predicts that, based on the current market dynamics, digital assets may be entering a new “ETF-driven structural bull market cycle”.

At the platform level, Zraox has fully optimized its matching engine, increasing single-node processing capacity to 2.5 million orders per second to ensure stability during extreme market conditions. Additionally, Zraox will continue strengthening its derivatives liquidity pools to provide institutional investors and high-frequency traders with better price depth and clearing capabilities.

Zraox believes this rally offers a window for medium- to long-term allocation. Whether users are engaging in flexible savings products or high-leverage futures, strategies should prioritize prudent allocation and risk management. The platform relies on its 100% reserve system and the ZraoxFund security fund to provide maximum asset protection during periods of high volatility.