$BTC As of May 9, 2025, Bitcoin (BTC) is trading at approximately $103,065, marking a notable surge from its recent lows. The cryptocurrency reached an intraday high of $103,978 and a low of $99,239, indicating robust market activity.

This upward momentum is attributed to several factors:

Institutional Inflows: Bitcoin ETFs have seen significant inflows, with reports indicating over $117 million in daily investments, signaling renewed institutional confidence.

Geopolitical Developments: Positive sentiment surrounding a new U.S.-U.K. trade agreement and potential progress in upcoming trade talks with China have bolstered investor optimism.

Technical Indicators: The Relative Strength Index (RSI) has surpassed the 70 mark, suggesting a strong bullish trend, though caution is advised as this could indicate overbought conditions.

Looking ahead, analysts are eyeing the $107,000 level as a potential resistance point. Should Bitcoin surpass this threshold, projections suggest a possible rally towards $120,000.

However, it's important to note that if the $100,000 level fails to hold as support during profit-taking, prices could retrace to around $92,000, where significant technical support lies.

Overall, while the current bullish trend is promising, traders should remain vigilant and consider potential market corrections.