#BTCPrediction The price of Bitcoin hovers around $97,000 in a bullish sentiment and with ETF inflows.
On this Wednesday, May 7, 2025, the price of Bitcoin (BTC) is trading around the $97,000 mark. This follows a period of positive price movement, with BTC showing gains over the last 24 hours, the last seven days, and significantly over the last month and last year.
According to recent data, the price of Bitcoin has increased by about 3% over the last 24 hours, continuing a trend that saw an increase of about 2% over the past week. Over a broader period, BTC has surged by about 24% over the last 30 days and an impressive nearly 60% over the last year. The current market capitalization of Bitcoin is strong, exceeding $1.9 trillion, with a healthy 24-hour trading volume of several tens of billions of dollars.
Several factors seem to contribute to the current bullish sentiment surrounding Bitcoin. Technical analysis suggests positive short-term outlooks, with the price having broken through key resistance levels. Some analyses indicate that as long as the price remains above the support level of $93,000, the bullish trend is likely to continue, with potential resistance identified around the $97,900 level and the psychological threshold of $100,000.
On the fundamental side, growing institutional adoption continues to be an important driver. Notably, Bitcoin exchange-traded funds (ETFs) in the United States have seen substantial inflows, with some reports highlighting significant investments in these products. This growing interest from traditional finance is often interpreted as a strong vote of confidence in Bitcoin as an asset class.
Furthermore, recent news reports regulatory developments, such as the approval by a U.S. state for a Bitcoin reserve, which, while potentially localized, can contribute to the overall positive market sentiment. Geopolitical events are also cited in some analyses as having a potential, albeit complex, impact on Bitcoin price movements, with some interpreting it as a safe-haven asset.
Although overall technical and fundamental indicators appear positive in the short and medium term, the cryptocurrency market remains intrinsically volatile and subject to rapid changes based on global news, regulatory developments, and broader economic conditions.