$BTC

BTC

Bitcoin (BTC) is currently experiencing a significant market surge, approaching the $97,000 mark as of May 2, 2025. The cryptocurrency has shown impressive momentum in recent days, continuing its upward trajectory after breaking out from the $89,000-$91,000 consolidation range[1][6].

The world's leading cryptocurrency has a current market capitalization of approximately $1.89 trillion, with a 24-hour trading volume of around $44.6 billion[6]. Bitcoin remains firmly positioned as the dominant cryptocurrency, commanding the largest market share in the crypto ecosystem[2][5].

Several factors are driving Bitcoin's current price surge, including growing institutional interest, increasing adoption among retailers, and its perception as a hedge against inflation[1]. The demand-supply dynamics are particularly notable, with U.S. spot Bitcoin ETFs accumulating significantly more Bitcoin than what's being mined, creating a substantial demand-supply gap that's pushing prices higher[3].

According to technical analysis, Bitcoin is displaying clear bullish signals. The price is well above all key EMAs (20-day, 50-day, 100-day, and 200-day), forming a golden crossover structure[6]. Near-term resistance stands between $96,500 and $97,500, with the psychological barrier of $100,000 looming ahead[6].

Price predictions for May 2025 suggest Bitcoin could reach between $97,000 and $103,000, with some analysts forecasting it could breach the $100,000 mark by mid-May[6].