Bitcoin (BTC) has once again reached the $99,000 mark for the first time in over two months, sparking optimism among analysts who expect a price breakthrough above $100,000 soon.
It is important to note that Bitcoin's performance over the past month has been quite impressive. Its value has increased by 31.8%, indicating a strong recovery from the lows on Liberation Day in early April.
Is Bitcoin on the path to reach $100,000?
In the morning hours of Asian trading, the largest cryptocurrency reached $99,388, its highest price since February 21, 2025. At the time of publication, the price of Bitcoin adjusted to $98,874. BeInCrypto data showed that the token experienced a slight decrease of 0.3% over the last hour. However, this rise fueled optimism that a rise to $100,000 is inevitable. Market participants on X (formerly Twitter) confirmed a positive outlook.
"Bitcoin is knocking on the door of $100,000 again. Tick-tock..." wrote Anthony Pompliano.
Earlier, Bitfinex's forecast suggested that if Bitcoin holds above $95,000, a return to its historical highs becomes likely. This prediction seems to be materializing as Bitcoin is now trading above this threshold.
Furthermore, several market indicators and events support a bullish sentiment. An analyst found that Bitcoin has broken out of the price range where many traders held short positions with high leverage.
"There is no significant resistance up to about $100,000," noted an analyst.
In its weekly newsletter, Glassnode also noted that Bitcoin's realized capitalization reached a record level of $889 billion, increasing by 2.1% over the past month. This growth reflects rising investor confidence and capital inflow.
The company noted signs of recovery of market strength, particularly a significant influx of capital into Bitcoin, especially through ETFs. Over the past two weeks, more than $4.6 billion has flowed into Bitcoin ETFs.
"The total assets under management in U.S. spot ETFs have now risen to over 1.171 million BTC, which is just 11,000 BTC shy of the all-time high of 1.182 million BTC," the newsletter emphasized.
This surge in inflows has largely offset the previous period of outflows, further indicating strong demand for Bitcoin.
"Strong inflows into ETFs, along with improved investor confidence, are helping to create a picture of stronger tailwinds supporting the Bitcoin market," added Glassnode.
Meanwhile, CryptoQuant noted that in the past three days, the volume of stablecoins sent to Binance has significantly increased. The peak occurred on May 6, when the influx reached nearly $1 billion, making it the largest single-day deposit since April.
"Inflows of stablecoins typically reflect investors' readiness to enter the market, as these assets are often sent to exchanges in anticipation of buying activity," the post stated.
Additionally, the latest disclosure of Binance reserves showed a decline in the volumes of several major cryptocurrencies, including Bitcoin, Ethereum (ETH), BNB (BNB), and Solana (SOL). In contrast, Tether (USDT) reserves highlighted a 2.6% increase.
This increase in stablecoin volumes indicates a rise in liquidity. It signals that traders are preparing for upcoming market transactions. Adding to the optimism, Tether's (USDT.D) dominance has decreased. A reduction in USDT.D typically indicates that investors are moving funds from stablecoins into other crypto assets, further fueling the rally.
Legislative progress is another favorable factor for Bitcoin. Two bills regarding Bitcoin reserves have been passed, with several more continuing to advance through the legislative process. This indicates growing institutional and governmental recognition of Bitcoin.
As Bitcoin approaches the $100,000 threshold, investors are closely watching whether this rally can maintain its momentum or will face resistance. With favorable conditions in the market, the crypto community remains on edge in anticipation of what could become a significant milestone for Bitcoin.#BinanceSquare #Write2Earn #Squar2earn #Binance #crypto $BTC