#BTCBreaks99K

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

On-chain data showed Bitcoin just broke above the $99,000 level late Wednesday evening and is nearing the $100K mark. At the time of publication, the digital asset was exchanging hands at $99,330, a 2.83% increase in the last 24 hours.

Despite the virtual asset’s recent dip, which was more than 10% from its January peak, investors seem confident in the cryptocurrency’s long-term value as it moves towards the $100K level. Glassnode analytics also noted that addresses holding between 10 and 10,000 BTC added more than 81,300 BTC over the past six weeks, signaling renewed institutional and high-net-worth investor confidence.

The world’s first cryptocurrency Bitcoin, has moved above the $99,000 mark and is almost breaking above the psychological $100K level. BTC is currently trading at $99,330, with roughly $47 billion in 24-hour trading volume, almost a 50% increase in the last 24 hours.

Altcoins are also rallying in BTC’s wake, with Ethereum rising by 4.26% to $1,904, while Solana jumped by 3.7% to reach $151.61. With BTC nearing $100K, analysts argue the breakpoint could lead to a wave of FOMO among both retail and institutional investors.

The digital asset’s holders have also been aggressively collecting BTC since late March, with wallets containing between 10 and 10,000 BTC accumulating 81,338 BTC over six weeks. Data from Glassnode revealed that the number of Bitcoin wallets holding more than 1,000 BTC jumped from 1,945 on March 1 to 2,006 by May 7, the largest 30-day increase in 2025. The digital asset’s behavior reflects a similar trend seen in Q1 2024,