#BTC突破99K
1. Breakthrough Background and Current Price Performance
Key Resistance Breakthrough
Bitcoin successfully broke through the $99,000 mark today (May 8), reaching a high of $99,450, the first time since mid-April. Previously, BTC oscillated in the $97,000-$98,000 range for over a week, completing a power accumulation breakthrough after multiple tests of the resistance level.
Technical Resonance Signals
The 4-hour chart shows the Bollinger Bands expanding, the MACD red bars continuing to grow, and the RSI rising to 65 (not overbought), indicating sufficient short-term upward momentum.
On the daily chart, BTC has stabilized above the EMA7 ($96,252) and EMA30 ($95,587), forming a bullish arrangement.
After breaking through the key Fibonacci retracement level of $98,800 (1.618 extension from the low of $93,398), the technical indicators confirm the continuation of the upward trend.
2. Analysis of Driving Factors
Market Sentiment and Capital Inflow
Institutional Capital: BlackRock's Bitcoin ETF has seen net inflows for 17 consecutive days, with a single-day addition of 320 BTC (approximately $31.68 million), accumulating over $7 billion in inflows this year, indicating continued institutional accumulation.
On-chain Data: The net outflow of BTC from exchanges reached 42,000 coins/week, hitting a new high since December 2024, indicating an increase in long-term holders' proportion.
Macro Policy Catalysts
The Federal Reserve's May meeting maintained interest rates, and although Powell mentioned inflation risks, the market interpreted it as “neutral to dovish,” leading to a collective rebound in risk assets.
The U.S. OCC approved banks to directly engage in stablecoin business, enhancing the interoperability of cryptocurrencies and traditional finance, indirectly benefiting Bitcoin as a safe-haven asset known as “digital gold.”
Historical Cycle Patterns
The current price trend is highly similar to the fourth quarter of 2024: breaking resistance followed by consolidation, then accelerating upward. If historical patterns hold, after breaking through $99,000, it may quickly challenge the $105,000-$112,000 range.
