Yes, Bitcoin (BTC) has indeed broken the $99,000 mark today, May 8, 2025, reaching an intraday high of $100,131.
This surge is attributed to several factors:
Federal Reserve's Decision: The Fed's choice to maintain interest rates between 4.25% and 4.50% has bolstered investor confidence, contributing to BTC's rise.
U.S.-U.K. Trade Agreement: A newly announced trade deal between the U.S. and U.K. has improved global market sentiment, further supporting Bitcoin's upward trajectory.
Institutional Investments: Significant inflows into Bitcoin ETFs, notably a $320 million increase on May 8, indicate strong institutional interest.
Technical Indicators: Bullish signals, such as a MACD crossover and an RSI of 78, suggest continued momentum, though the RSI also indicates potential overbought conditions.
Analysts are now eyeing the $100,000 level as a critical psychological threshold. Some projections even suggest a potential move towards $119,000 if current momentum persists.
In summary, Bitcoin's break above $99,000 is supported by favorable macroeconomic developments, increased institutional participation, and strong technical indicators, signaling a robust bullish trend.
