Bitcoin achieves the impossible once again!
Bitcoin returns to $100,000 today (May 8, 2025)
The price of Bitcoin $BTC has returned to the $100,000 level for the first time since early February 2025, a significant achievement reflecting the upward momentum in the cryptocurrency market.
Binance announced this achievement via a post on X, noting that it is "a historic win for the cryptocurrency community."
Current price and technical analysis:
According to the latest updates, Bitcoin is currently trading around $100,000, with a notable increase in upward momentum. Technically, Bitcoin has broken a key resistance level at $93,500-$95,000, supported by a decline in Bitcoin flows to exchanges, indicating accumulation by long-term holders. Technical indicators like the Relative Strength Index (RSI) at 67 and a bullish MACD crossover suggest the positive trend will continue, with potential resistance at $107,000 and support at $92,000.
Driving factors for the price:
Institutional adoption: Capital inflows into Bitcoin exchange-traded funds (ETFs) continued, with inflows of $908.1 million recorded last Friday. This strong demand is driving prices higher.
Supportive policies for cryptocurrencies: Investors expect that the administration of U.S. President Donald Trump, which will assume office soon, will support favorable legislation for cryptocurrencies, including the possibility of creating a strategic reserve for Bitcoin.
Decrease in exchange supply: Reports indicate a significant drop in Bitcoin inventory on platforms like Coinbase and Binance, enhancing upward pressure on prices due to supply shortages.
Market forecasts: Analysts believe that breaking the $100,000 level could pave the way for targeting higher levels such as $107,000 or even $150,000 in 2025, especially if institutional flows and supportive policies continue. However, some experts warn of a potential correction of up to 40% if the price peaks at $100,000, with key support levels at $85,000 and $76,000.
Market sentiment on X: Posts on platform X reflect the optimism of the community, as users like @binance celebrated Bitcoin crossing the six-figure mark. Other users, such as @Adams_K1, predicted positive price movement with potential bounces to $95,000 in the event of a correction. Posting tips: Focus on the significance of this event as a milestone in Bitcoin's history, highlighting driving factors such as institutional adoption and supportive policies.
Note: Prices and analyses are based on data up to May 8, 2025, and may change rapidly.
