$BTC

Bitcoin (BTC) Price Update – May 8, 2025

Current Price: $BTC 98,909

24h Change: +2.4%

Daily High: $99,835

Daily Low: $95,959

Key Factors Driving the Price:

1. Institutional Inflows: BlackRock's Bitcoin ETF recorded 37.2 million in inflows on May 8, showing increased institutional demand.

2. State-Level Adoption: U.S. states like Texas and Arizona passed legislation to create Bitcoin reserves, boosting market confidence.

3. Whale Activity: A major Bitcoin whale bought 100 BTC worth 9.78 million, indicating confidence in further price growth.

Market Outlook:

Bitcoin is approaching the psychological resistance level of $BTC 100,000. The next key resistance is $98,500.