Bitcoin has once again broken the $100,000 mark, trading around $101,000 - $103,000 on Friday, May 9, 2025. This resurgence comes after a period of consolidation, fueled by a combination of factors including the Federal Reserve maintaining steady interest rates, and renewed optimism surrounding potential trade agreements, particularly between the US and the UK.
Institutional interest appears to be a significant driver, with Bitcoin ETFs seeing substantial inflows. This suggests a growing acceptance of Bitcoin as a mainstream investment. Market analysts note that Bitcoin's dominance has also increased, indicating stronger investor confidence in BTC compared to altcoins.
While some technical indicators suggest short-term overbought conditions, the overall sentiment remains bullish. Many anticipate a potential retest of Bitcoin's all-time high, reached earlier in the year. Key resistance levels to watch are around $107,000 and $110,000, while $90,000 is considered a crucial support level.