$BTC
It appears the hashtag #BTCBreaks99k is currently trending as Bitcoin has indeed broken above the $99,000 mark today, Thursday, May 8, 2025.
Key Points:
* New Milestone: Bitcoin has surged past $99,000, reaching a new all-time high and approaching the significant $100,000 level.
* Market Optimism: This surge follows the Federal Reserve keeping interest rates unchanged and positive remarks from President Trump regarding a potential "major trade deal," contributing to a more optimistic market outlook.
* Investor Celebration: Investors are reportedly celebrating this milestone, and analysts are focusing on the possibility of Bitcoin reaching $100,000.
* Market Resilience: Bitcoin's recovery to this level indicates strong market resilience. After a brief dip following the Fed's announcement, Bitcoin quickly rebounded.
* Bullish Sentiment: The Crypto Fear & Greed Index has moved into "Greed" territory, and spot Bitcoin ETFs have seen significant inflows, suggesting renewed institutional interest.
* On-Chain Data: Positive on-chain data indicates sustained accumulation of Bitcoin, suggesting the breakout is driven by long-term conviction rather than just speculation.
* Technical Analysis: Bitcoin has broken out of a recent trading range and is eyeing the $100,000 psychological level. Analysts note key resistance around $100,000 and potential further targets if this level is broken. Support is seen in the lower $90,000s.
Current Bitcoin Price:
As of late Thursday, May 8, 2025 (around 10:00 PM +06 in Rajshahi), the price of Bitcoin is hovering around $99,200 - $99,800, according to various sources.
Bitcoin Price Predictions for 2025:
Many analysts remain optimistic about Bitcoin's price for the remainder of 2025, with some even suggesting much higher targets. Here's a brief overview of some predictions:
* Short-Term Bullishness: Several analysts predict Bitcoin could reach the $100,000 - $110,000 range in the near term, with some suggesting a potential rise to $125,000 - $1
