On Friday, May 9, 2025, Bitcoin (BTC) recorded a major rally, once again breaking past the psychological $100,000 level. As of today, BTC is trading around $102,556, marking a gain of over 5% from the previous day, with an intraday high reaching $103,513.
Key Drivers Behind the Rally
1. US-UK Trade Agreement
President Donald Trump announced a landmark trade deal with the United Kingdom, slashing UK import tariffs from 5.1% to 1.8%. This boosted overall market sentiment and steered investors toward riskier assets like cryptocurrencies.
2. Strong Bitcoin ETF Inflows
Fidelity reported a $35.3 million inflow into its Bitcoin ETF on May 9, reflecting rising institutional interest in digital assets and strengthening BTC’s market position.
3. Pro-Crypto US Policy
The Trump administration has officially classified Bitcoin as part of the national strategic reserves, reinforcing its legitimacy and appeal as an alternative asset class.
Outlook and Predictions
Analysts suggest that if BTC holds a daily close above $99,700, it could open the door to the next resistance levels at $103,500 and even $109,000. However, short-term indicators hint at possible consolidation before any further upward move.
Conclusion
Today’s Bitcoin surge is fueled by a mix of positive macroeconomic developments and strong policy support. While short-term consolidation may occur, market sentiment remains broadly optimistic about BTC’s continued bullish momentum.