$BTC

Bitcoin (BTC) is showing promising trends as of May 8, 2025. The price has climbed to $99,611, reflecting a 3% increase in the last 24 hours and 4% over the past week, with a market cap of $1.98 trillion. After the recent FOMC meeting, on-chain data like the Age Consumed metric indicates reduced selling pressure from long-term holders, signaling a potential breakout above $100,000. Institutional interest is rising, with exchange outflows suggesting investors are holding rather than selling. Posts on X highlight optimism, noting Bitcoin’s illiquidity as supply dwindles while demand from institutions and ETFs surges. Additionally, a crypto-friendly U.S. administration, including Trump’s strategic Bitcoin reserve plans, is boosting sentiment. Analysts from sources like CoinGape and Bloomberg note macro stability and de-escalating U.S.-China trade tensions as further catalysts for BTC’s upward momentum.