BTC breaks through the $95000 mark

According to Cryptonews, Democratic Senator Chris Murphy has proposed the Modern Compensation and Misconduct Enforcement Act (MEME Act), which aims to prohibit senior officials such as the President, members of Congress, and their immediate family members from issuing or promoting cryptocurrency assets. Violators will face a maximum fine of $250000 and five years in prison. The bill directly targets the Trump family's recent involvement in projects such as TRUMP Meme, requiring relevant parties to return all proceeds to the US Treasury Department. Richard Blumenthal, Chairman of the Senate Investigation Subcommittee, announced the launch of an investigation into World Liberty Financial and TRUMP token developer Fight Fight Fight, with a focus on examining whether the Trump family gained undue benefits during the 50% surge in tokens on April 23 due to the "White House dinner" news. The document retrieval order has been sent to the relevant enterprise. Despite Congressman Sam Liccardo submitting a supporting bill, the legislative prospects are questionable in the context of Republican control of both houses.

Foresight News reported that according to Business Insider, digital marketing and content delivery service provider Asset Entities (NASDAQ: ASST) announced that it has reached a final merger agreement with Strike Asset Management. The merged company will operate under the Strike brand, continue to be listed on NASDAQ, and become a publicly traded Bitcoin finance company. Strive CEO Matt Cole will introduce the deal and company strategy at the Strategy World conference at 2:15 pm US time today. Strive Asset Management will drive the accumulation of Bitcoin through value-added strategies, including plans to exchange the merged company's equity for Bitcoin for the first time and provide tax-free protection for investors under Section 351 of the US tax code; Acquiring cash at a discounted price by merging with companies with excess capital; And releasing additional leverage to accumulate Bitcoin, while utilizing internal fixed income and derivative expertise to hedge risks in innovative ways.

According to BlockBeats, on May 7th, Glassnode data showed that both short-term holders (STH) and long-term holders (LTH) of Bitcoin were increasing their holdings. LTH has been accumulating continuously since early March, while STH has also started to increase its holdings in the past week. Glassnode defines LTH as investors who hold BTC for more than 155 days, while STH refers to investors who hold BTC for less than 155 days. According to its latest weekly report, LTH has increased its holdings of over 250000 BTC since early March, bringing the total holdings of this group to over 14 million BTC. This indicates that market confidence is recovering and the accumulated momentum has surpassed investors' selling and hedging tendencies, "Glassnode analysis pointed out. Although STH usually operates in opposition to LTH, they have also increased their holdings of over 25000 BTC in the past week, marking a reversal of the net reduction trend of over 200000 BTC since February 2025- a period that coincides with the 30% retracement starting point of Bitcoin. At present, Bitcoin is hovering around the $97000 mark, and this market wide increase in holdings indicates that investor confidence is recovering. However, Glassnode also pointed out that there is a significant resistance level at $99900, and on chain data shows that profit taking may occur when LTH unrealized profits reach 350%. Therefore, it can be foreseen that when the price approaches the region, selling pressure will intensify, and strong buying and selling forces will be needed to digest the selling pressure in order to maintain upward momentum

According to Bloomberg, some Democratic candidates in the New Jersey gubernatorial race are accepting cryptocurrency, a strategy that has helped Trump run for President of the United States. At least half of the six Democratic candidates have supported cryptocurrency related work, including US Congressman Mikie Sherrill, who led some polls in the primaries. Sherrill publicly stated that the crypto economy will not disappear, and we need more resources to regulate this field. Jersey Mayor Steve Fulop has pledged to allocate a portion of the state pension fund to a Bitcoin ETF if elected. On the eve of the primary election on June 10th, encryption policy became a key differentiating issue. A Rutgers University poll shows that one-third of voters have yet to determine their support. Although traditional issues such as transportation and housing remain the focus, Fulop points out that:; Democrats who refuse to understand encryption are making a fool of themselves - it's about winning over young voters;. On the Republican side, Mario Kranjac, a supporter of Trump, stated that he will follow the direction of federal policy.

Odaily Planet Daily News: According to data from Glassnode, an on chain analysis platform, long-term holders (LTHs) have cumulatively increased their holdings of over 250000 BTC since March 2025, bringing their total holdings to over 14 million BTC, demonstrating strong confidence in the market. Short term holders (STHs) have also net increased their holdings of approximately 25000 BTC in the past week, ending the previous months of continuous selling trend. At the same time, the inflow of funds into Bitcoin ETFs has accelerated in the past two weeks, and enterprise level Bitcoin reserves have continued to grow, further supporting market demand. Technical analysis shows that $99000 is considered a potential profit taking area and has become the current key resistance level. The current price is close to this level, and the market is concerned about whether it can break through and continue to rise. （CoinDesk）