$BTC As of May 8, 2025, Bitcoin (BTC) is trading at approximately $99,144, marking a 2.7% increase from the previous day. This upward momentum is fueled by optimism surrounding upcoming U.S.-China trade talks and anticipation of the Federal Reserve's interest rate decision.

Technical analysis indicates that Bitcoin is approaching a critical resistance level at $100,000. A successful breakout above this threshold could propel BTC toward $110,500 in the near term. However, failure to maintain support above $93,000 may result in a pullback to the $85,000–$88,000 range.

On-chain data reveals increased activity from dormant wallets, suggesting potential profit-taking that could introduce short-term selling pressure. Nonetheless, long-term sentiment remains bullish, with forecasts projecting Bitcoin could reach $112,803 by June 1, 2025.

Institutional interest continues to grow, exemplified by New Hampshire's recent legislation establishing a Strategic Bitcoin Reserve, allowing the state to invest up to 5% of public funds in Bitcoin and other digital assets. This move underscores Bitcoin's increasing acceptance as a legitimate asset class.

In summary, while short-term volatility is expected, Bitcoin's long-term outlook remains positive, supported by institutional adoption and favorable market dynamics.