Bitcoin price reclaims $100K for first time since January

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Bitcoin has reclaimed the $100,000 terms level for the archetypal clip since January, reflecting renewed bullish sentiment among investors.

Bitcoin (BTC) reclaimed the $100,000 people connected May 8 astatine 3:22 p.m. UTC, surging 4.2% from the intraday debased of $95,967, according to information from CoinGecko.

It marked the 3rd clip that BTC has breached done the six-figure level since archetypal achieving it connected Dec. 5, 2024. A 2nd all-time precocious followed connected Jan. 20 up of US President Donald Trump’s inauguration.

Unlike the erstwhile $100,000 hits, the caller terms spike came arsenic Bitcoin marketplace dominance surged supra 60%, reflecting imaginable bearish sentiment for altcoins.

Bitcoin dominance beneath 60% successful past $100,000 breakthroughs

Bitcoin dominance — the asset’s stock of the full cryptocurrency marketplace — has been steadily rising implicit the past year. During its archetypal tally to $100,000 successful December 2024, BTC dominance stood astatine 52%. By January 2025, that fig had accrued to 54%.

The latest spike successful Bitcoin dominance matches historical levels past seen successful aboriginal 2021, erstwhile Bitcoin was trading astatine astir $36,000 and heading toward its erstwhile all-time highs supra $60,000.

“Bitcoin has been showing spot for weeks now, outstripping different integer tokens, and scarcely flinching against the benignant of geo-political events successful Asia and the Middle East that whitethorn person impacted it successful the past,” Mercuryo CEO Petr Kozyakov told Cointelegraph.

“With golden besides moving bully each year, there’s present a lawsuit for saying that Bitcoin whitethorn person proven itself arsenic an economical hedge and a semipermanent store of value,” helium added.

Why is the Bitcoin terms rising now?

Bitcoin’s latest $100,000 breakthrough came amid a operation of political, organization and macroeconomic factors.

Some successful the assemblage linked Bitcoin’s latest bullish enactment to a imaginable commercialized woody betwixt the US and the United Kingdom, which Trump hinted astatine successful a Truth Social station connected May 7.

“Bitcoin is hovering adjacent $100,000, a cardinal intelligence level for traders, aft Trump hinted astatine a large commercialized deal, apt with the UK,” Kronos Research main concern serviceman Vincent Liu told Cointelegraph.

Liu said the rally is besides supported by falling enslaved yields, a weakening dollar and renewed organization inflows successful spot Bitcoin exchange-traded funds, which saw $1.8 cardinal of inflows successful the past trading week.

Despite bullish momentum and the Crypto Fear & Greed Index consolidating successful the “Green” country astatine its existent people of 65, immoderate cardinal US economical information is anticipated to forecast Bitcoin’s moves shortly, according to Liu:

“While momentum is strong, upcoming US fund information connected May 12 and CPI [Consumer Price Index] connected May 13 volition beryllium cardinal successful determining if BTC tin interruption and clasp supra this level. For the rally to sustain, the commercialized woody communicative volition request to germinate into factual progress.”

According to Ben Caselin, main selling serviceman astatine VALR, determination is simply a “good chance” that Bitcoin volition illustration caller highs, northbound of $110,000, sooner alternatively than later, arsenic the plus seeks to consolidate its worth supra $100,000.

“Retail is lone acceptable to travel successful toward what is traditionally the second portion of the Bitcoin four-year cycle, which mightiness spot a macro apical reached successful Q4 of this year,” Caselin told Cointelegraph.

At the aforesaid time, fixed continued advancement successful planetary crypto regularisation and aggregate strategical Bitcoin reserve initiatives, Caselin besides sees a accidental of “prolonged and accelerated maturation beyond 2025.”

Additional reporting by Amin Haqshanas.

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