As of May 8, 2025, $BTC is trading at approximately $99,506, reflecting a 2.6% increase from the previous close. The cryptocurrency reached an intraday high of $100,131 and a low of $95,959.
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🔥 Top #BTCTrade Hot Topics – May 8, 2025
1. Bitcoin Nears $100K Amid Trade Deal Optimism
$BTC price surge is largely attributed to renewed optimism surrounding global trade relations. President Donald Trump announced a comprehensive U.S.-U.K. trade agreement, which has bolstered investor confidence and driven risk assets higher. Additionally, upcoming U.S.-China trade talks are expected to further alleviate economic uncertainties, contributing to Bitcoin's bullish momentum.
2. U.S. Establishes Strategic Bitcoin Reserve
In a significant policy shift, the U.S. government has established a Strategic Bitcoin Reserve, repurposing over $17 billion worth of forfeited bitcoins from criminal and civil cases. This move aims to position the U.S. as a global leader in digital assets and underscores Bitcoin's growing acceptance as a store of value.
3. Institutional Adoption Accelerates
Institutional interest in Bitcoin continues to rise, with significant inflows into Bitcoin ETFs. BlackRock's Bitcoin ETF, for instance, has attracted $6.96 billion in year-to-date inflows, outperforming gold-focused ETFs. This trend indicates a growing preference for Bitcoin as a long-term investment vehicle among institutional investors.
4. Technical Indicators Signal Bullish Momentum
Technical analysis reveals that Bitcoin has broken out from a descending channel and pennant pattern, signaling bullish momentum. The Relative Strength Index (RSI) stands at 62, indicating room for further upside before overbought conditions. Key resistance levels to watch are $100,000 and $107,000, while support levels are at $92,000 and $85,000.
5. On-Chain Metrics Reflect Positive Sentiment
On-chain data indicates a net inflow of 12,500 BTC into exchange wallets between May 7 and May 8, suggesting accumulation by investors.
