Today, May 8, 2025, the $BTC market is experiencing significant upward momentum. Bitcoin's price has surged, trading around $99,300, marking a notable 2.4% increase in the last 24 hours. This bullish trend is fueled by a combination of factors, including optimism surrounding potential US trade deals and sustained institutional interest.

The market capitalization of Bitcoin stands at a robust $1.97 trillion, with a 24-hour trading volume of approximately $55.58 billion, indicating strong market activity. The overall sentiment in the Bitcoin community appears to be bullish.

Technically, Bitcoin is approaching the psychological $100,000 level, which is seen as a crucial resistance. Some analysts predict that a break above this level could pave the way for further gains, potentially targeting $105,000 and beyond. However, others caution about potential profit-taking by long-term holders around the $100,000 mark.

In the broader crypto market, Bitcoin's dominance remains high, and its recent price action is influencing the performance of various altcoins. Investors are closely watching Bitcoin's ability to sustain this rally and potentially reach a new all-time high, which could set the tone for the rest of the cryptocurrency market.