Bitcoin's bullish momentum continues. On May 8, the BTC advanced 6.41% on a single day, once again climbing above the important $ 100k mark. In the last seven days, Bitcoin rose 6.9%, and in the past 24 hours, it gained at least 0.3%.
The recent rally has caused a chaos in the crypto space, especially after a bold guess from blackrock CEO Larry Fink, who believes that bitcoin can traded properly above $ 500,000 within Next 5 to 10 years.
Larry Fink's Bitcoin Price Price
Blackrock CEO Larry Fink predicts Bitcoin Exceeds $ 500k In 5-10 years. He also labeled the potential of bitcoin $ 10 trillion assetstrengthening the institutional's growing faith in crypto.
Momentum is supported by ETF activity. The US market today is —host of eleven bitcoin spots ETF, with a joint Aum of $ 118.59b. Their total market cap stands on $ 120.76bwith the sun -day volume of $ 2.66b.
Blackrock's Ishhares Bitcoin Trust (IBIT) is leading the market with an Aum of $ 62.65b. In the early days of this month only, 21,303.28 BTC Flow in the Ibit.
Larry Fink's respective views feature Blackrock's belief in expanding Bitcoin's role in the global financial system.
Bitcoin price analysis
On November 5, 2024, Bitcoin exchanged $ 69,374.85. Between then and December 17, the BTC grew 56.23%. From December 18 to February 23, 2025, it often reached between $ 106,132.47 and $ 92,455.22. On February 24, it dropped 4.92% on a single day, falling below that range. Later, on April 7, the BTC hit the low $ 74,532.07.
However, on April 9, a strong purchase pressure emerged. Since then, the price has jumped 35.38%, up to $ 103,376.94.
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In terms of monthly performance:
- January: +9.54%
- February: -17.5%
- March: -2.19%
- April: +14.2%
- May (to date): +9.57%
Kamag -child index index (RSI) stands on 75.29Putting BTC in excess territory. However, the market is current Mainly three major transitions of averages:
- 50-SMA: $ 88,534.40
- 100-SMA: $ 89,842.09
- 200-SMA: $ 91,233.80
The MACD The line is on 3,803.03good above the signal line to 3,163.09Signed a bullish momentum. Even the On-balance quantity (obv) is on -492.54kindicating some negative volume pressure, the general emotion remains bullish.
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FAQs
Blackrock CEO Larry Fink predicts Bitcoin can exceed $ 500,000 to 5-10 years due to an increase in institutional adoption.
The US has been dating 11 Bitcoin spots ETF, holding more than $ 118 billion in assets under Management (AUM).
Yes, with an RSI above 75, Bitcoin is in excessive territory, which signed a strong momentum but possible short-term risk.
