Bitcoin (BTC) has surged past the $99,000 mark, approaching the significant $100,000 milestone. This rally is attributed to several factors, including the Federal Reserve’s decision to maintain interest rates, which has bolstered investor confidence in risk assets like cryptocurrencies .
Technical indicators reflect strong bullish momentum. The Relative Strength Index (RSI) on the 4-hour chart reached 78, indicating overbought conditions, while the Moving Average Convergence Divergence (MACD) shows a bullish crossover . Additionally, institutional interest remains high, with Bitcoin ETF inflows increasing by $320 million on May 8.
Market sentiment is further uplifted by President Trump’s hints at a “major trade deal” with a “highly respected country,” contributing to optimism in the crypto space . As Bitcoin hovers near $99,624, the crypto community watches closely to see if it will break the $100,000 barrier.
