$BTC

The current price of Bitcoin (BTC) is $101,510.27, according to recent data. This represents a 5.30% increase over the last 24 hours, with the cryptocurrency's market capitalization standing at $1.93 trillion. The 24-hour trading volume is substantial, and Bitcoin's dominance in the crypto market is over 60%, indicating growing investor confidence in BTC over altcoins.

Several factors are driving Bitcoin's price surge, including:

- *Institutional Investment*: Spot Bitcoin ETFs have seen significant inflows, with $1.8 billion entering the market over the past trading week.

- *Macroeconomic Trends*: Falling US bond yields and a weakening dollar have added to Bitcoin's appeal as a hedge.

- *Geopolitical News*: The announcement of a potential US-UK trade deal, hinted at by US President Donald Trump, has boosted market optimism.

Analysts predict that Bitcoin could continue its upward trend, with potential targets including ² ³:

- *$105,000*: A key psychological level and potential resistance point.

- *$110,000*: A possible target for Bitcoin's next move, driven by institutional investment and market sentiment.

However, upcoming economic data releases, such as the US budget data on May 12 and the Consumer Price Index (CPI) on May 13, may influence Bitcoin's ability to sustain its current price level.