As of May 9, 2025, Bitcoin (BTC) has surged past the $103,000 mark, reflecting a 4.28% increase over the past 24 hours.
Several factors have contributed to this upward momentum:
Institutional Inflows: Renewed interest from institutional investors, particularly through Exchange-Traded Funds (ETFs), has bolstered demand.
Market Optimism: The announcement of a preliminary trade deal between the U.S. and the U.K. has improved investor sentiment, benefiting both equities and cryptocurrencies.
Short Liquidations: A significant number of short positions have been liquidated, with over $970 million in crypto liquidations reported in the last 24 hours, predominantly affecting short sellers.
Analysts suggest that Bitcoin is approaching its all-time high of $109,225, set in January 2025, and may soon test resistance levels near $106,500. Some forecasts even predict that BTC could reach $120,000 or higher by mid-2025, driven by sustained institutional demand and favorable macroeconomic conditions.
If you're interested in tracking Bitcoin's performance or exploring investment options, platforms like Binance, Coinbase, and Coingecko offer real-time data and trading services.