#MostRecentTrade

While I don't have a crystal ball to definitively say if Bitcoin will break $99,000 USD today, May 8, 2025, here's what the current information suggests:

Positive Factors and Current Price Action:

* Bullish Momentum: Several sources indicate that Bitcoin has been showing strong bullish momentum recently. Some reports even mention Bitcoin briefly surpassing the $99,000 level earlier today.

* Positive Market Sentiment: The US Federal Reserve's decision to hold interest rates steady, coupled with acknowledging economic strength, has reportedly boosted positive sentiment in the cryptocurrency market.

* ETF Inflows: Cumulative inflows into Bitcoin ETFs have reached new all-time highs, indicating strong institutional participation.

* Corporate Accumulation: Companies like Metaplanet are continuing to add Bitcoin to their holdings.

* Technical Analysis: Some analysts believe that if Bitcoin can effectively stabilize above the $98,800 resistance (mentioned in one analysis), the next target could be around $102,000.

Factors to Consider:

* Psychological Resistance: The $100,000 mark is a significant psychological resistance level, and some selling pressure might occur as the price approaches it.

* Short-Term Holder Cost Basis: The current Bitcoin price is near the cost basis for short-term holders (around $95,000), making the market sensitive to price fluctuations.

* External Factors: Events like Federal Reserve policy announcements and geopolitical news (like potential significant news from the Middle East mentioned in one report) could introduce volatility.

* Overbought Conditions: As noted in the BNB analysis, high RSI levels can sometimes indicate a potential for a pullback. We'd need to see the RSI for Bitcoin to assess this.

Price Predictions for Today (May 8, 2025):

* One prediction suggests a potential close around $98,089 - $101,150.

* Another report mentioned Bitcoin reaching $99,400 after the Fed announcement but then slightly retreating to around $98,863.