Bitcoin has surged past the $100,000 mark for the first time since February 2025, signaling a robust comeback in the cryptocurrency market. As of May 9, 2025, Bitcoin is trading around $102,700, reflecting a significant recovery from its April low of $74,000.
This rally is attributed to several factors:
Trade Agreements: The announcement of a U.S.-U.K. trade deal by President Donald Trump and British Prime Minister Keir Starmer has bolstered investor confidence, easing concerns over previous tariff-related market stresses.
Institutional Investment: There has been a substantial inflow of funds into digital asset investments, with $5.5 billion entering the market in the past three weeks, including $1.8 billion into Bitcoin products.
Technical Indicators: Bitcoin's relative strength index (RSI) is above 70, indicating strong bullish momentum. Analysts suggest that if this trend continues, Bitcoin could target resistance levels around $107,000, with projections aiming for $120,000 in the near term.