$BTC has reclaimed the $100,000 price level for the first time since January, signaling renewed investor confidence and growing market dominance. The flagship cryptocurrency surged 4.2% on May 8 to hit $102,961, according to CoinGecko data.
Unlike earlier $100K milestones, this rally was fueled by a spike in Bitcoin’s market dominance, now above 60% — its highest since early 2021. This shift highlights growing capital rotation away from altcoins and into BTC amid macroeconomic uncertainty.
Analysts point to several factors behind the rise: a potential US-UK trade deal hinted at by President Trump, falling bond yields, a weakening dollar, and over $1.8 billion in spot Bitcoin ETF inflows in the past week.
Experts say Bitcoin may soon test $110,000, with retail investors likely to enter later in the cycle. “There’s now a case for Bitcoin as a long-term economic hedge,” said Mercuryo CEO Petr Kozyakov.
The next major test? U.S. CPI data on May 13 — a key trigger for Bitcoin’s next move
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