#BTCBreaks99K Bitcoin's path to $100,000: Bitcoin reaches its highest level in two months

Bitcoin (BTC) reclaimed the $99,000 level for the first time in over two months, raising optimism among analysts who expect the price to break above the $100,000 level soon.

Notably, Bitcoin's performance over the past month has been extremely impressive. It has risen by 31.8%, representing a strong recovery from its lows during liberation in early April.

Could the price of Bitcoin reach $100,000?

In early Asian trading, the largest cryptocurrency reached $99,388, marking its highest price since February 21, 2025. At the time of publishing this report, the price of Bitcoin settled at $98,874. Data from BeInCrypto showed that the cryptocurrency experienced a slight decline of 0.3% in the past hour. However, this increase fueled optimism that a rise to $100,000 is inevitable. Market participants on X (formerly known as Twitter) expressed positive expectations.

"Bitcoin is approaching the $100,000 barrier again. Tick, tick..." wrote Anthony Pompliano.

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Previously, Bitfinex's predictions indicated that if the price of Bitcoin remained above $95,000, retesting its all-time high becomes possible. This prediction seems to have become a reality as Bitcoin is now trading above this threshold.

Moreover, many market indicators and developments support the bullish trend. One analyst revealed that Bitcoin has broken through a price range where many traders were holding high-leverage short positions.

The analyst said, "There is no significant resistance until reaching around $100,000."

In its weekly newsletter, Glassnode also pointed out that the realized market capitalization of Bitcoin reached a record level of $889 billion, an increase of 2.1% over the past month. This rise reflects growing investor confidence and capital inflows.

The company indicated signs of renewed market strength, with significant capital flowing back into Bitcoin, particularly through ETFs. Over the past two weeks, more than $4.6 billion has flowed into Bitcoin ETFs.

"The newsletter noted that the total assets under management within spot ETFs in the United States have now risen to over 1.171 billion Bitcoin, which is just 11,000 Bitcoin away from its all-time high of 1.182 billion Bitcoin."

This rise in inflows has largely reversed the previous period of outflows, indicating strong demand for Bitcoin.

Glassnode added: "Strong inflows to ETFs, along with improved investor sentiment, help paint a picture of stronger tailwinds supporting the Bitcoin market."

Meanwhile, CryptoQuant highlighted that over the past three days, the number of stablecoins sent to Binance has grown significantly. The inflows peaked on May 6, when they reached nearly $1 billion, the largest single-day deposit since April.

"Stablecoin flows typically reflect investors' willingness to enter the market, as these assets are often sent to exchanges in anticipation of buying activity," the publication noted.

Additionally, the latest disclosure of Binance's reserves showed a decline in holdings of many major cryptocurrencies, including Bitcoin, Ethereum (ETH), BNB (BNB), and Solana (SOL). In contrast, the 2.6% increase in Tether (USDT) reserves stands out.

This increase in stablecoin holdings indicates increased liquidity. It suggests that traders are preparing for future transactions in the market.

In addition to the optimism, Tether (USDT.D) dominance has declined. A decrease in USDT.D typically indicates that investors are moving money from stablecoins to other crypto assets, leading to increased upward momentum.

Legislative progress represents another boost for Bitcoin. Two legal bills for Bitcoin reserves have been enacted, and many other projects are still on their way to advancing through the legislative process. This indicates increasing acceptance of Bitcoin by institutions and governments.

As Bitcoin approaches the $100,000 threshold, investors are closely monitoring whether this rise will maintain its momentum or face resistance. With market conditions improving positively, the cryptocurrency community remains tense about what could be a milestone for Bitcoin.