The price of Bitcoin crossed the $ 100,000 price, trading above the $ 103,000 Mark, reflecting the bullish's changed feelings for investors.
The largest crypto in the world was the first $ 100,000 price in December 2024, as it continued to follow following pro-crypto Donald Trump winning the November election. The BTC later sank near $ 109,000 in the hours before Trump's inauguration in January.
Soon, Bitcoin Bullish's momentum began to disappear, followed by a steady decline followed in the weeks of weeks, with a bitcoin hit of less than $ 75,000 in early April in the midst of President Trump's new tariff policy. However, the prices have since rebuked, with cryptocurrency that has fallen into six milestone figures.
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At the current price of Bitcoin, data from coingecko revealed that crypto asset prices have emerged at a local high of $ 103,461 today before falling its current price around $ 102,734, up to 3.8% a day and 6% in the week.
US president Trump is teasing a “major trade deal” to his reality on the social media site that represents a diplomatic milestone following economic tension triggered by tariff penalties imposed on the so-called “release Day.” The news came while US Secretary of Treasury Scott Bescent was set to travel to Switzerland for conversations with Chinese officials, the first trade discussion from Trump's tariffs announcement.
Meanwhile, the alleged asides of Bitcoin, the altcoins also found significant achievements. The Ethereum rose to 22%, the XRP rose by 8.7%, and Solana rose 9.7%, among other well -known movers. The global capitalization of the cryptocurrency market rose 6.65% to $ 3.22 trillion, according to CoinMarketCap.
One of the most significant drivers behind this recent rally is the huge flowing in The Bitcoin Exchange Traded Funds (ETF). This flow indicates a growing acceptance of Bitcoin as a legitimate class owner to institutional investors, which further provides parts of their cryptocurrency portfolios.
As Bullish Momentum continues to form, Geoffrey Kendrick, head of the chartered digital assets, has updated the bank's Q2's target price for Bitcoin.
In a recent email to clients on May 8, Kendrick apologized for the previously estimated that Bitcoin would hit a full time of $ 120,000 in the second quarter, suggesting now that the price call could be lower than “too low.”
In a report last month, he noted that he was expecting the price of Bitcoin to reach a new record of $ 120,000 in the second quarter of 2025 behind a strategic owner of ownership far from the US owners, regulation headwinds, and aggressive accumulation of whales.
Kendrick has now seen his earlier $ 120,000 price call as “very achieved” because market conditions have changed again.
Also, Ashish Singhal, co-founder of Coinswitch, has linked Bitcoin's resurrection to a combination of changes in global policy, institutional trust, and macroeconomic factors. He noted that the optimization surrounding the US-China and US-Uk Trade Talk, along with the stable interest rate of the US Federal Reserve, had a positive impact on Bitcoin as a digital risk of risk.
“The recovery of Bitcoin reflects a global scene of policy and institutional policy changes,” Singhal said. He also featured the US government's decision to establish a strategic Bitcoin reserve earlier this year, marked a historical embrace of digital ownership at the level of sovereignty. This move, along with the recent Bitcoin Strategic Reserve bills passed on to Arizona and New Hampshire, signals growing support for Bitcoin at a policy level.
With Bitcoin who is now stable above the coveted milestone, merchants and investors are re -repositioning for further potential reversal as opposing for more trade dealings between the US and its allies are growing.
