As of May 10, 2025, the cryptocurrency market has indeed seen a significant rebound. Bitcoin broke the $100,000 barrier on May 8, marking the first time since February of this year. Subsequently, Bitcoin further rose on May 9, reaching a peak of $104,300, with an increase of nearly 5%. Ethereum also performed strongly, surging 27%.

The main driving factors behind this rebound include the easing of global trade tensions, which has boosted risk assets like cryptocurrencies. Additionally, market expectations for a trade agreement between the US and UK, as well as technical rebounds, have fueled market optimism.

Bitcoin's dominance currently stands at about 52%, although pressure from other cryptocurrencies is increasing. Standard Chartered analysts even predict that Bitcoin could reach an all-time high of around $120,000 in the second quarter of 2025.

Overall, the rebound in the cryptocurrency market is the result of multiple factors working together, including the macroeconomic environment, geopolitical events, and technical factors.