#BTCBackto100K Bitcoin (BTC) has once again surpassed the $100,000 mark, trading at approximately $102,883 as of May 9, 2025. This resurgence marks a significant recovery from its April lows, where it dipped below $75,000 following tariff announcements. 

🔍 Factors Driving the Rally

• U.S.-U.K. Trade Agreement: The announcement of a new trade deal between the United States and the United Kingdom has bolstered investor confidence, easing concerns over global economic uncertainties.

• Institutional Investment: There has been a notable increase in institutional inflows into Bitcoin, with entities like BlackRock expanding their exposure to the cryptocurrency.

• Market Sentiment: The broader “risk-on” sentiment in financial markets has contributed to Bitcoin’s upward momentum, with equities and other risk assets also performing well. 

📊 Technical Outlook

Analysts are closely monitoring the $100,000 level as a key support zone. If Bitcoin maintains this level, projections suggest a potential rise toward $120,000 in the near term. However, if profit-taking leads to a pullback, support is expected around $92,000.

With Bitcoin’s market dominance surpassing 60%, the cryptocurrency continues to assert its position as a leading digital asset.