As of May 8, 2025, the price of Bitcoin (BTC) surpassed the $99,000 barrier, trading at around $99,586. This rise is attributed to several factors, including the US Federal Reserve's decision to maintain interest rates between 4.25% and 4.50%, which alleviated concerns about inflation and unemployment. Additionally, increased demand from exchange-traded funds (ETFs) and expectations of the upcoming Bitcoin halving are contributing to this upward momentum.

Analysts indicate that Bitcoin is approaching a critical resistance level near $100,000. If this barrier is breached, the next targets will be $101,800 and $104,000. Conversely, support is expected around $95,000. On-chain data indicates that 86.6% of Bitcoin's 27,775,148,910 addresses are currently in a bullish position, with significant support below $95,000. However, resistance is observed between $95,634 and $98,490, where a cluster of addresses holding 27,775,148,910 Bitcoins at these levels, potentially generating selling pressure.

In short, Bitcoin's recent price action reflects a combination of favorable macroeconomic factors and strong institutional interest, paving the way for it to reach all-time highs in the near future.

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