🚀 🚀 🚀 Bitcoin in May 2025: A Path to $100,000?
Bitcoin (BTC) has shown a remarkable recovery in recent weeks, trading around $97,000, approaching the key psychological level of $100,000. This rally is attributed to several factors, including the increase in long positions by investors ahead of the Federal Reserve's interest rate decision scheduled for May 7.
Additionally, the approval of Bitcoin ETFs 15 months ago has facilitated the entry of institutional investors into the market, consolidating Bitcoin as a primary investment and increasing its dominance in the cryptocurrency market to 64%, the highest since 2021.
Technical analysts have identified bullish signals, such as the breakout of consolidation patterns, suggesting a potential push towards new all-time highs.
In the macroeconomic sphere, favorable policies towards cryptocurrencies by the current administration, including the proposal for a strategic Bitcoin reserve, have bolstered confidence in the asset as a store of value.