#BTCBackto100K

Bitcoin Price Closing In On $100k Retest: Smart Money Rotates Into BTC Beta Plays As STX Crypto Erupts

Bitcoin is flirting with $100,000 once more as it hovers between $99,200 and $99,700 this early European morning. Today (May 8), the lead cryptocurrency looks set to retest $100k for the first time since early February this year. In anticipation of a move above $100k, investors are rotating into Bitcoin beta play STX crypto, which soars 10% overnight.

Following yesterday’s mediocre FOMC meeting, which saw interest rates held at their current levels, BTC quickly sank from $97k to $96.1k. Many investors felt a drop back to $90k could be on the cards. However, Bitcoin has other ideas.