Bitcoin's market value surpasses 2 trillion, price reaches 100,000 dollars
On May 13, Bitcoin's market value broke 2 trillion dollars for the first time since January 31, and the price also reached the 100,000 dollar mark. On-chain data shows a divergence in market sentiment: retail FOMO (Fear of Missing Out) is at an all-time high (first-time buyers' RSI has been at 100 for a week), but trend traders are increasing their selling pressure (RSI is only 11), indicating intensified short-term bullish-bearish competition.
Key catalysts approaching: Tonight's U.S. April inflation data may determine whether it can break previous highs. If inflation cools more than expected, Bitcoin's narrative as an inflation hedge may strengthen; conversely, high interest rate expectations could suppress the upward momentum.
On the institutional side, Goldman Sachs, BlackRock, and others continue to increase their holdings in Bitcoin-related ETFs, with sovereign investors' holdings accounting for 8% of the circulating supply, indicating an increase in institutional allocation. Analysts warn that there is technical resistance above 100,000 dollars and derivative leverage crowding risks, and caution is needed for potential short-term pullbacks.
