The price of Bitcoin reached a daily high of $97,731.8, with a 24-hour rise of 3.08%, and a market capitalization of $1.93 trillion. Institutional funds continue to flow in, with BlackRock's Bitcoin ETF seeing a net inflow of $421 million in a single day.

Ethereum price reached $1,842.96, with a 24-hour rise of 1.69%. The Pectra upgrade brings key improvements: validator staking cap increased to 2,048 ETH, and Blob throughput doubled to reduce Layer 2 costs.

On-chain data shows that whale addresses holding 1,000-10,000 ETH have cumulatively increased their holdings by 22.54% since March, and the MVRV ratio is close to the low in March 2020, suggesting that ETH may be undervalued.

U.S. Senator proposes the "MEME Act" to prohibit the President and members of Congress from issuing Meme coins, directly targeting Trump-related token projects.

The People's Bank of China announced a 0.5 percentage point reduction in the reserve requirement ratio, releasing approximately 1 trillion yuan in long-term funds, and lowered the policy interest rate by 0.1 percentage points to support the real economy and stabilize the capital market.

The chairman of the Securities Regulatory Commission, Wu Qing, stated that the reform of the Sci-Tech Innovation Board and the ChiNext Board will be deepened, supporting the Central Huijin Investment Ltd. to play a "quasi-stabilization fund" role, enhancing market resilience. The net profit of A-share listed companies in the first quarter increased by 3.6% year-on-year.

Market expectations indicate a 96.9% probability that the Federal Reserve will keep interest rates unchanged in May, with rate cut expectations postponed to July. Analysts warn that there may be significant volatility following the FOMC meeting, and Bitcoin's low volatility may signal a trend reversal.

The Japanese listed company Metaplanet announced an additional purchase of 555 BTC, bringing its total holdings to 5,555 coins, valued at approximately $465 million, as part of its "Bitcoin financial strategy."

South Korean presidential candidate Lee Jae-myung promised that if elected, he would approve the Bitcoin ETF, promote the legalization of cryptocurrencies, and reduce transaction fees.

Futu Securities International (Hong Kong) has launched the deposit function for BTC, ETH, and USDT, allowing users to directly invest in traditional financial products (such as Hong Kong, US, and Japanese stocks) through cryptocurrency assets.

BNP Paribas collaborates with Dr. Ni's Web3 network to integrate the SEPA transfer system with blockchain technology, exploring digital asset payment solutions.

The US SEC is reviewing Bitwise's application for a NEAR spot ETF, which, if approved, will become the first ETF tracking the NEAR coin.

Coinbase will temporarily suspend Ethereum operations on May 7 to accommodate the Pectra upgrade.

Summary: Bitcoin benefits from macro policy easing and institutional accumulation, with a short-term target of $100,000 and possibly challenging higher levels in the long term; Ethereum's technological upgrades solidify its leading position in smart contracts, but market sentiment fluctuations need to be monitored. China's policy support and the Federal Reserve's interest rate decisions are the focal points, and the volatility of risk assets may intensify.

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