As of May 8, 2025, Bitcoin (BTC) is trading at $99,865, nearing the significant $100,000 milestone. This surge is attributed to several factors:(Barron's, CoinDesk)

Trade Deal Optimism: President Trump's announcement of an impending trade agreement with the UK has bolstered investor confidence, leading to increased demand for Bitcoin as a hedge against economic uncertainty. (CoinDesk)

Institutional Adoption: The approval of Bitcoin ETFs and strategic investments by institutions, such as New Hampshire's authorization to allocate up to 5% of its reserves into Bitcoin, have further legitimized and strengthened the market. (Investor's Business Daily)

Technical Indicators: Analysts note that Bitcoin is maintaining higher timeframe support levels, suggesting a strong continuation of its bullish price pattern. (Blockchain News)

However, some caution that the rally may face resistance due to overbought conditions and the potential for a "Sell in May and go away" seasonal trend. (CoinDesk)

Overall, the combination of positive geopolitical developments, institutional interest, and technical strength positions Bitcoin on the cusp of reaching a new all-time high.

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