Bitcoin experienced a dramatic price surge on May 7th as market volatility soared due to escalating geopolitical developments and expectations surrounding the upcoming Federal Reserve interest rate decision. Bitcoin’s price briefly dipped below $94,000 before rebounding to an all-time high of $97,700. This surge coincided with global uncertainty fueled by tensions between India and Pakistan and ongoing US-China trade negotiations. Meanwhile, gold also saw a substantial rise alongside Bitcoin as both assets benefited from increased geopolitical instability. Gold reached a peak of $3,435 before settling down. The upcoming Federal Reserve meeting is now the main focus for traders, with market sentiment awaiting any potential hints of rate changes.