$BTC 

New Peak on the Way?

The price of the leading cryptocurrency has been booming lately, briefly climbing above $104,000 earlier today (May 9). As of this writing, bitcoin (BTC) is worth approximately $103,000, which represents a 33% monthly increase.

The asset’s impressive rally sparked huge enthusiasm on crypto X, with multiple users predicting that an upswing toward a new all-time high is just a matter of time. Some important factors support the bullish thesis.

An example is BTC’s exchange netflow, which has been predominantly negative on most days in the past week or so. This indicates a shift from centralized trading platforms toward self-custody methods and reduced selling pressure.

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