$BTC As of May 9, 2025, Bitcoin (BTC) has surged past the $100,000 mark, trading around $102,500. This rally is driven by positive market sentiment following a new U.S.-U.K. trade agreement and anticipation of upcoming trade talks with China. Bitcoin has rebounded nearly 40% from its April low, trading at around $102,700, and is up 10% year-to-date.

Technical indicators suggest bullish momentum, with a relative strength index (RSI) above 70 indicating possible short-term overbought conditions. Analysts point to potential resistance near $107,000 and a projected upside target around $120,000 if the rally continues. Conversely, if the $100,000 level fails to hold during profit-taking, prices could retrace to around $92,000, where significant technical support lies.

Institutional interest has played a significant role in Bitcoin's momentum, with inflows into digital asset funds reaching $5.5 billion in the past three weeks, including $1.8 billion into bitcoin products.

In summary, while short-term volatility is expected, Bitcoin's long-term outlook remains positive, supported by institutional adoption and favorable market dynamics.