As of May 2, 2025, Bitcoin is trading around $96,700, marking a 1.6% increase over the past 24 hours. This brings BTC closer to the key psychological milestone of $100,000, reflecting continued institutional interest and positive sentiment across the crypto markets.

Technical Analysis

Bitcoin recently broke out of a descending channel and a pennant formation — both bullish indicators suggesting the possibility of a further upward move. Key resistance levels are now seen at $100,000 and $107,000, while support zones lie around $92,000 and $85,000.

While the RSI signals strong momentum, a slight decline in trading volume urges cautious optimism. The market appears to be in a consolidation phase before its next potential leg up.

Fundamental Drivers

Institutional demand continues to grow. Notably, BlackRock recently purchased $350 million worth of BTC, reinforcing the narrative of growing trust from traditional finance giants. Additionally, BlackRock’s Bitcoin ETF saw $351.4 million in daily inflows, further emphasizing the rising interest from large-scale investors.

According to CoinMarketCap, Bitcoin's market capitalization stands at $1.93 trillion, and its market dominance has surged to 64% — the highest level since 2021.

Forecast and Sentiment

Analysts forecast that if current trends continue, Bitcoin could reach $200,000 by the end of 2025. However, short-term corrections are still possible, especially if BTC fails to convincingly break above the $100,000 resistance level.

In the long game of crypto, Bitcoin remains the leading force — supported by solid fundamentals, long-term holder conviction, and growing institutional adoption. As always, patience and strategy are key #Write2Earn #BTC