#BTC重返10万 BTC Returns to 100,000, Crypto Market Dynamics Resurge

On the morning of May 9, the price of Bitcoin rapidly climbed, breaking through the $100,000 threshold, leading to a collective surge in the cryptocurrency market. Bitcoin first broke the six-figure mark on December 5, 2024, and set a historical high for the second time on January 20 this year, just before U.S. President Trump’s inauguration. This marks Bitcoin's first return to $100,000 since February this year, once again drawing widespread attention from the market.

According to CoinGecko data, Bitcoin returned to the $100,000 mark at 11:22 PM Beijing time on May 8, rising 4.2% from a daily low of $95,967 to $100,530. At this moment of price surge, Bitcoin's market dominance rose to over 60%, a different scenario compared to previous breakthroughs, reflecting a stronger bullish sentiment.

From a macro perspective, market risk appetite significantly increased after Trump hinted at a potential major trade agreement with the UK, with Bitcoin hovering around the critical psychological threshold of $100,000. At the same time, declining bond yields and a weakening dollar provided support for Bitcoin's rise. Additionally, institutional funds flowed back into spot Bitcoin exchange-traded funds (ETFs), with inflows reaching $1.8 billion in the past trading week, further boosting Bitcoin's upward momentum.

At the industry level, the governors of Arizona and New Hampshire in the U.S. have signed bills allowing the establishment of state-level Bitcoin reserves. Although Bitcoin has not yet been purchased, this has sparked optimism among investors and strengthened market confidence in the acceptance of crypto assets by the government.

Although Bitcoin has performed strongly in recent weeks, its future trajectory still faces many uncertainties. The U.S. budget data on May 12 and the Consumer Price Index (CPI) on May 13 will be critical in determining whether BTC can break through and stabilize at the $100,000 level. From a technical analysis perspective, Tyler Richey, co-editor and technical analyst at The Sevens Report, noted that Bitcoin currently faces a key resistance range between $101,500 and $106,500. If Bitcoin can close above $101,000, it is likely to challenge the historical high of $109,225 set in January; conversely, if it falls below the short-term support level of $93,780, it may retrace to the $80,000 level.