$BTC Bitcoin Nears $97K: Bullish Momentum Builds in May 2025

Bitcoin (BTC) is trading at approximately $97,460, reflecting a 0.98% increase over the past 24 hours. This surge is attributed to growing institutional interest and favorable macroeconomic conditions. 

Key Drivers of Bitcoin’s Performance:

• Institutional Adoption: The approval of Bitcoin ETFs 15 months ago has facilitated increased institutional investment, with firms like EY and Capriole Investments enhancing their BTC exposure. 

• Governmental Support: In March 2025, President Trump signed an executive order establishing a U.S. strategic Bitcoin reserve, holding approximately 198,000 BTC. 

• Market Dynamics: On-chain data indicates a shift towards long-term holding, with whales accumulating over 43,000 BTC in the past two weeks, suggesting confidence in Bitcoin’s long-term value. 

Price Predictions:

• Peter Chung of Presto Research forecasts BTC reaching $210,000 by year-end, driven by institutional adoption and global liquidity. 

• Standard Chartered projects Bitcoin hitting $120,000 in the current quarter. 

• CoinCodex anticipates BTC trading between $97,646 and $180,252 in 2025, with a bullish market sentiment. 

Technical Analysis:

Bitcoin faces resistance around the $97,200 level, with sellers defending this price point. However, the overall market sentiment remains bullish, supported by increased trading volumes and positive on-chain metrics. 

Note: Cryptocurrency investments carry inherent risks. Investors should conduct thorough research and consider their risk tolerance before making investment decisions.

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