#BTCBreaks99K And it's not déjà vu! Bitcoin just returned to $100,000 on May 8 at 3:22 PM UTC, according to CoinGecko data. This is the third time in history it has hit this mark… but this time the context is VERY different ⚠️.
BTC rose 4.2% intraday, from $95,967, in a move supported by market dominance that exceeded 60%, something we haven't seen since early 2021.
What is driving this bullish madness? Let's break it down:
1️⃣ Dominance at 60%: BTC became the alpha of the market 🦍📊
During the previous peaks of $100K (in December 2024 and January 2025), BTC's dominance was 52% and 54% respectively. Now it has surpassed 60%, showing that money is flowing into BTC and not into altcoins.
This level hasn't been seen since January 2021, when BTC was trading at $36,000 and began its journey toward the previous ATH of $69K. Does this mean that altcoins are in danger? Many believe that the 'altcoin season' will have to wait… or may not come.
2️⃣ Trump and the 'deal' with the UK: was that what ignited the fuse? 🇺🇸🤝🇬🇧🔥
On May 7, Trump hinted at a major trade deal on Truth Social, probably with the UK. Although there are no concrete details, traders reacted with euphoria, seeing this as a geopolitical boost for decentralized assets.
This type of announcement usually moves the market… and this time was no exception!
3️⃣ Spot ETFs: $1.8 billion doesn't lie 📥🏦📈
Spot Bitcoin ETFs in the U.S. continue to attract institutional capital. In the last week, net inflows of $1.8 billion were recorded, according to CoinShares.
Who is buying? Funds like BlackRock, Fidelity, and ARK are accumulating. This is reducing the circulating supply and increasing buying pressure.
4️⃣ Macro: weak dollar + falling bonds = rising BTC ⚖️💸📉
U.S. Treasury bond yields are falling, which is usually an indicator of lower confidence in the traditional economy.
Additionally, the dollar (DXY) has lost strength, and when that happens, assets like gold and Bitcoin tend to benefit as safe havens.
The market is seeking alternatives… and BTC is shining as an option.
🚀🧐 And now what? Heading to $110K?
Although the current momentum is strong, eyes are on the U.S. CPI (May 13) and fiscal data (May 12). If the data aligns, we could see a new ATH above $110,000 in the coming weeks.
According to Ben Caselin from VALR:
> 'The 4-year cycle is maturing, the retail investor is about to enter, and if everything aligns, we could see extended growth until 2026.'
🪙🚀 The narrative is now clear: BTC as an economic hedge, long-term value, and institutional asset.
📌 Sources: Cointelegraph, CoinGecko, The Block, Decrypt
🤔 And what do you think?
Will we reach $110K before July or will we see a correction first?
💬 Leave it in the comments!
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