As of May 7, 2025, Bitcoin (BTC) is trading at approximately $96,896, reflecting a 2.89% increase from the previous close.
This upward movement is attributed to several factors:
Institutional Investment: Japanese firm Meta planet acquired 555 BTC, valued at ¥7.6 billion, boosting market confidence.
Geopolitical Developments: Optimism over US-China trade talks has led to increased demand for riskier assets, including Bitcoin.
Technical Indicators: Chart patterns suggest a potential rally towards $109,000, reminiscent of previous bullish cycles.
Analysts predict that if current support levels hold, Bitcoin could surpass the $100,000 mark, with some forecasts reaching up to $250,000 by the end of 2025.