Bitcoin (BTC) recovered the $99,000 mark for the first time in more than two months, and quickly sparked optimistically among analysts who are anticipating a breakthrough in prices above $100,000.
In particular, BTC’s performance over the past month is very noteworthy. Its value is highly valued at 31.8%, representing a strong comeback from the lowest on the release day in early April.
Will Bitcoin get back on track to $100,000?
In Asia’s early trading hours, the largest cryptocurrency reached $99,388, marking its highest price since February 21, 2025. At the time of pressing, the Bitcoin price was adjusted to $98,874. Beincrypto data showed that the coin had experienced just 0.3% penetration in the past hour.
Performance at BTC price. Source: TradingView
However, the increase has fueled optimism that a $100,000 rise would be inevitable. Market participants on X (formerly Twitter) reflect a positive outlook.
“Bitcoin is knocking on the $100,000 door again. Tick, Tok…” writes Anthony Pipriano.
Previously, Bitfinex predictions suggested that if Bitcoin exceeds $95,000, it would likely be possible for its best ever revisit. This prediction appears to be happening as Bitcoin is traded above this threshold.
Additionally, several market indicators and development support bullish sentiment. Analysts revealed that Bitcoin has passed a price range where many traders hold short positions with high leverage.
“There’s no major resistance to it down to about $100,000,” the analyst said.
In its weekly newsletter, GlassNode also noted that the Bitcoin realisation cap has hit a record high of $889 billion, up 2.1% in the past month. This increase reflects an increase in investor trust and capital inflows.
The company pointed to signs of renewed strength in the market, with key capital returning to Bitcoin, particularly through ETFs. Over the past two weeks, over $4.6 billion have joined the Bitcoin ETF.
“The total AUM held within US spot ETFs has risen to over 1,1171 million BTC, which is shy to just 11,000 BTC of 1,182 million BTC ATH,” the newsletter emphasized.
This surge in inflows largely reversed the early period of the outflow, and furthermore shows strong demand for Bitcoin.
“Along with improving investor trust, the strong ETF inflow will help to draw a stronger tailwind that supports the Bitcoin market,” GlassNode added.
Meanwhile, Cryptoquant highlighted a significant increase in the amount of Stablecoins sent to Binance over the past three days. It peaked on May 6th, with inflows reaching around $1 billion, the largest daily deposit since April.
“Stable inflows usually reflect the availability of investors, as these assets are often sent for exchanges in anticipation of buyback activities,” the post read.
Additionally, Binance’s latest sanctuary disclosures showed a decline in holdings of several major cryptocurrencies, including Bitcoin, Ethereum (ETH), BNB (BNB) and Solana (SOL). In contrast, a 2.6% increase in tether (USDT) reserves stand out.
This increase in Stablecoin Holdings suggests an increase in liquidity. This shows that traders are positioning themselves for future market trading.
Binance Asset Reserves in May. Source: x/wublockchain
In addition to optimism, Tether Dominance (USDT.D) has experienced downticks. The decline in USDT.D usually indicates that investors are moving funds from Stablecoins to other crypto assets, further driving the rally.
Legislative advances are another tailwind for Bitcoin. Two Bitcoin appointments have been enacted, and multiple Bitcoin invoices continue to advance through the legislative process. This means there is an increasing institutional and government acceptance for Bitcoin.
As Bitcoin approaches the $100,000 threshold, investors are closely monitoring whether the rally will maintain its momentum or maintain facial resistance. With market conditions in good harmony, the Crypto community remains for what could be a BTC milestone.
