Bitcoin Nears $100K Amid Institutional Buying and Market Optimism

As of May 7, 2025, Bitcoin $BTC is trading around $96,645, showing a 2% gain in the past 24 hours and approaching the key $100,000 resistance level. Institutional interest continues to drive momentum, with Metaplanet expanding its holdings to 5,555 BTC and Strategy now holding over 555,000 BTC. This surge in accumulation reflects growing confidence among major investors. Meanwhile, the mining sector shows mixed signals—Riot Platforms sold 475 BTC in April amid industry challenges, and MARA Holdings reported a 15% decline in production. Technical analysis suggests further upside potential, as bullish patterns indicate a possible breakout beyond current highs. Overall, the market remains optimistic, fueled by strong demand and institutional engagement.