#BTCBackto100K

Bitcoin has recently surged back above the $100,000 mark, driven by a combination of institutional inflows, favorable regulatory developments, and macroeconomic factors. Here’s a detailed analysis of the current situation and future outlook:

### **Current Price Action**

- As of May 9, 2025, Bitcoin is trading at **$100,511.22**, marking a 4.5% increase and reclaiming the psychologically significant $100K level .

- Earlier in the week, Bitcoin retreated from an all-time high of **$99,500**, with profit-taking by newer investors (who bought above $56K) contributing to the pullback .

### **Key Drivers Behind the Rally**

1. **Institutional Adoption & ETF Flows**

- Spot Bitcoin ETFs have seen **$5.3 billion in inflows over the past three weeks**, with BlackRock’s IBIT leading the charge .

- Despite recent outflows (including a **$435.3 million net outflow** on a single day), long-term institutional interest remains strong .

2. **Corporate Bitcoin Accumulation**

- Companies like **MicroStrategy** ($5.4B purchase), **Metaplanet**, and **Marathon Digital** continue to buy Bitcoin, supporting price stability .

- MicroStrategy alone now holds **1.5% of Bitcoin’s total supply** .

3. **Macro & Political Factors**

- Pro-crypto policies under the **Trump administration** have boosted market sentiment .

- Bitcoin is increasingly seen as a **hedge against inflation and dollar weakness**, especially with rising U.S. debt levels .

4. **Technical & Market Sentiment**

- Analysts note that Bitcoin’s **200-day SMA is rising**, and the RSI (75.83) suggests an overbought but bullish trend .

- Some warn of a potential **"blow-off top"** (a sharp rally followed by a steep drop), but long-term forecasts remain optimistic .

### **Future Predictions**

- **Short-Term (2025):**

- Standard Chartered’s **Geoffrey Kendrick** now believes his **$120K Q2 2025 target** may be "too low" .

- CoinCodex predicts Bitcoin could reach **$116,605 by June 8, 2025** (a 12.77% increase) .