As of May 8, 2025, Bitcoin (BTC) has surged past the 100,000 mark, reaching an intraday high of 101,879 and currently trading around 101,289.
Market Snapshot:
Price Momentum:
BTC has rebounded over 3074,434, breaking through key resistance levels without significant retracement.
Investor Sentiment:
Standard Chartered's Head of Digital Assets, Geoffrey Kendrick, revised his earlier Q2 forecast of 120,000, stating it's "too low" given the current market dynamics.
Market Dominance:
Bitcoin's market dominance has surpassed 60.
Technical Indicators:
While the Relative Strength Index (RSI) shows overbought conditions, suggesting a potential short-term correction, the overall trend remains bullish.
Outlook:
Analysts anticipate that Bitcoin could target a new all-time high of *130,000* in the coming months, driven by sustained institutional interest and favorable macroeconomic factors.
