$BTC Bitcoin (BTC) is currently trading at approximately \$99,540, marking a 2.5% increase over the past 24 hours. The cryptocurrency has reached an intraday high of \$100,131, reflecting strong upward momentum.

This surge is attributed to several factors:

* **Macroeconomic Developments**: Investor optimism has been bolstered by a comprehensive trade agreement between the U.S. and U.K., reducing uncertainty around trade policies and tariffs.

* **Institutional Adoption**: Major financial institutions, including BlackRock, have increased their Bitcoin holdings, signaling strong institutional demand;

* **Technical Indicators**: Bitcoin has broken out from a descending channel and pennant pattern, signaling bullish momentum.

Analysts predict that Bitcoin could reach \$121,243 by May 12, 2025, representing a potential 24.86% increase from current levels.

In summary, Bitcoin's recent performance is driven by favorable macroeconomic conditions, increased institutional interest, and positive technical indicators, suggesting a continued bullish trend.