Bitcoin has regained the price of $ 100,000 for the first time since January, which reflects the upcoming upward upward morale among investors.
Bitcoin (BTC) has regained a brand of $ 100,000 on May 8 at 11:22 UTC, increased by 4.2 % of the lowest level of the day at 95,967 dollars, According to To data from Coingecko.
This was the third time that BTC has interrupted the six -digit level since its first achievement on December 5, 2024. This was followed by the highest level ever on January 20 before US President Donald Trump was inaugurated.
Unlike the previous visits of $ 100,000, the new prices came as the dominance of the Bitcoin market increased by 60 %, which reflects the potential decline morale on Altcoins.
Bitcoin’s hegemony is lower
Bitcoin’s dominance – the class of assets of the total coded currency market – was Steadily It rises over the past year. During her first race to $ 100,000 in December 2024, BTC dominated 52 %. By January 2025, this number increased to 54 %.
The last rise in Bitcoin dominates the historical levels that were last seen in early 2021, when Bitcoin was trading of about $ 36,000 and heading towards its highest previous levels ever exceeding $ 60,000.
“Bitcoin has shown the power for weeks so far, and other digital symbols have rarely, and rarely abandoned this type of political geographical events in Asia and the Middle East that has affected them in the past,” Peter Koziakov, CEO of Merintelegraph.
He added: “As gold is also operating throughout the year, there is now a situation because Bitcoin may have proven itself as an economic hedge and a long -term store for value.”
Why is the price of bitcoin now?
The most recent breach of $ 100,000 in Bitcoin came amid a set of political, institutional and macroeconomic factors.
Some in society linked the latest biological measures for Bitcoin to a possible commercial deal between the United States and the United Kingdom, which hinted Trump in a social publication on May 7.
“Bitcoin is hovering near $ 100,000, which is the main psychological level of merchants, after Trump has alluded to a major trade deal, probably with the United Kingdom,” Vincent Liu, chief investment official in Cronus Research, told Cointelegraph.
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Liu said that the gathering is also supported by low bond returns, which is the weakness of the dollar and the renewal of institutional flows in the instant bitcoin exchange funds, which witnessed $ 1.8 billion of flows in the last trading week.
Despite the difficult momentum, the index of fear and greed Monotheism In the “Green” region in its current 65 -year -old, it is expected that some major American economic data is expected to predict Bitcoin movements, according to LIU:
“While the momentum is strong, the upcoming US budget data on May 12 and CPI [Consumer Price Index] On May 13, the key will be to determine whether BTC is able to break this level. In order to maintain the assembly, you will need to list the commercial deal to develop tangible progress. “
According to Ben Caselin, the chief marketing official in Valr, there is a “good opportunity” that Bitcoin will draw new new levels, north of $ 110,000, sooner and not later, as assets seek to unify above $ 100,000.
“The retail sale is scheduled only to what is traditionally the last part of the four -year Bitcoin session, which may witness the Macro Summit reached in the fourth quarter of this year,” Cashilin told Cointelegraph.
At the same time, given the ongoing progress in organizing global encryption and multicolored Bitcoin reserve initiatives, Caselin also sees an opportunity for “prolonged and accelerated growth after 2025.”
Additional reports by Amin Hakchayas.
magazine: Bitcoin to $ 1 million by 2029, the CIA launches its seat to Bitcoin: Hodler’s Digest, April 27 – May 3
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