Bitcoin has rebuilt a level of $ 100,000 for the first time since January, reflecting a fresh feeling among investors.
Bitcoin (BTC) retrieved a $ 100,000 point on UTC at 3:22 pm on 8 May, an intraday of $ 95,967 rose at least 4.2%, According For data from coingecko.
This marked the third time that BTC broke through six-hearted levels, since it was first received on December 5, 2024. At the highest level of a second time on 20 January ahead of the inauguration of US President Donald Trump.
Unlike the previous $ 100,000 hits, the new price spike bitcoin market dominated above 60%, reflecting the potential recession for altcoins.
Bitcoin dominance below 60% in last $ 100,000 successes
Bitcoin dominance – part of the property of the total cryptocurrency market – has been done Rapidly Get up in the last one year. During his first run in December 2024, up to $ 100,000, BTC dominance was 52%. By January 2025, the figure had increased to 54%.
The latest spike in bitcoin dominance matches historical levels in the previous 2021 when Bitcoin was trading at $ 36,000 and moving more than $ 60,000 to its previous all-time high.
“Bitcoin has been showing strength for weeks, pushing other digital tokens for weeks, pursuing other digital tokens, and flickering against geopolitical events in Asia and Middle East, which can affect it in the past.”
He said, “It is going well throughout the year with gold, now there is a case to say that Bitcoin may have proved itself as a long -term store of an economic hedge and value.”
Why is the price of bitcoin increasing now?
Bitcoin’s latest $ 100,000 success came amidst a combination of political, institutional and macroeconomic factors.
Some in the community connected the latest rapid action of bitcoin to a possible trade deal between the US and the United Kingdom, which Trump indicated on 7 May to a true social post.
“Bitcoin is hovering near $ 100,000, a major psychological level for traders, Trump indicated in a major trade deal, is likely to be with the UK,” Crronos Research Chief Investment Officer Vincent Liu told CoinTelgraph.
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Liu said the rally has also been supported in the fall of bond yields, a weak dollar and a fresh institutional flow in spot bitcoin exchange-traded funds, with a $ 1.8 billion influx in the previous trading week.
Fast speed and crypto fear and greed index Strong According to Liu, on the current score of 65 in the “green” area, some major American economic data are estimated to estimate the move of bitcoin:
“While the speed is strong, the upcoming US budget data on May 12 and the CPI (Consumer Price Index) on May 13 will be important to determine whether BTC can break and catch above this level. To maintain the rally, the trade deal will need to be developed in concrete progress.”
According to Beni Caselin, Chief Marketing Officer at VALR, there is a “good opportunity” that bitcoin will chart new heights in north of $ 110,000 instead of later, as the asset wants to consolidate its value above $ 100,000.
“Retail is only ready to come to this side as to what is traditionally the latter of the bitcoin four -year cycle, which can reach a macro top in Q4 of this year,” Casillin told the coinalgraph.
At the same time, Global Cripto regulation and many strategic bitcoin reserve initiative, Casillin has also seen a chance of “longer and quick growth beyond 2025”.
Additional reporting by Amin Hakshan.
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