#BTCBreaks99K Bitcoin's path to $100,000: Bitcoin reaches a two-month high

Bitcoin (BTC) reclaimed the $99,000 level for the first time in over two months, sparking optimism among analysts who expect the price to break above $100,000 soon.

Notably, Bitcoin's performance over the past month has been extremely impressive. Its value increased by 31.8%, representing a strong recovery from its lows on Liberation Day in early April.

Could the price of Bitcoin reach $100,000?

In early Asian trading, the largest cryptocurrency reached $99,388, marking its highest price since February 21, 2025. At the time of this report, Bitcoin's price settled at $98,874. Data from BeInCrypto showed that the cryptocurrency experienced a slight decline of 0.3% in the past hour.

However, this increase fueled optimism that a rise to $100,000 is inevitable. Market participants on X (formerly known as Twitter) expressed positive expectations.

"Bitcoin is approaching the $100,000 barrier again. Tick, tick..." wrote Anthony Pompliano.

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Previously, Bitfinex's forecasts indicated that if the price of Bitcoin remained above $95,000, a retest of its all-time high becomes likely. This prediction seems to have become a reality as Bitcoin is now trading above this threshold.

Moreover, many market indicators and developments support the bullish trend. One analyst revealed that Bitcoin broke through a price range where many traders held high-leverage short positions.

The analyst said, "There is no significant resistance until reaching around $100,000."

In its weekly newsletter, Glassnode also noted that the realized market cap of Bitcoin reached a record level of $889 billion, an increase of 2.1% over the past month. This rise reflects growing investor confidence and capital inflows.

The company noted signs of renewed market strength, with significant capital inflows back into Bitcoin, particularly through exchange-traded funds. Over the past two weeks, more than $4.6 billion flowed into Bitcoin exchange-traded funds.

"The newsletter indicated that the total assets under management within U.S. spot exchange-traded funds have now risen to over 1.171 billion Bitcoin, just 11,000 Bitcoin away from its all-time high of 1.182 billion Bitcoin."

This increase in inflows largely reflected the previous period of outflows, indicating strong demand for Bitcoin.

Glassnode added: "Strong inflows to exchange-traded funds, along with improved investor sentiment, help paint a picture of stronger tailwinds supporting the Bitcoin market."

Meanwhile, CryptoQuant highlighted that over the past three days, the number of stablecoins sent to Binance has grown significantly. Inflows peaked on May 6, when they reached nearly $1 billion, the largest deposit in a single day since April.

"Stablecoin inflows typically reflect investors' desire to enter the market, as these assets are often sent to exchanges in anticipation of buying activity," the publication noted.

Additionally, the latest disclosure from Binance regarding reserves showed a decline in holdings of several major cryptocurrencies, including Bitcoin, Ethereum (ETH), BNB (BNB), and Solana (SOL). In contrast, the 2.6% increase in Tether (USDT) reserves stands out.

This increase in stablecoin holdings indicates increased liquidity. It suggests that traders are preparing for future transactions in the market.