Bitcoin has gained momentum over the past week, rising over 6% to hover just below the $95,000 mark.
While its year-to-date growth remains modest at around 1.4%, traders are now closely watching the $95,000 resistance level. If broken, many believe it could open the door for Bitcoin to surge past the $100,000 milestone as early as May.
Interestingly, the cryptocurrency appears to have decoupled from traditional equities and is now tracking closer to gold in terms of market behavior.
This shift comes amid increasing money supply and a broader macroeconomic backdrop that favors non-traditional stores of value. Analysts suggest that a further 5.5% uptick from current levels would be enough to propel Bitcoin into six-figure territory.
Market expert Michael van de Poppe emphasized that Bitcoin still hasn’t reached a new high when measured against gold, suggesting the current cycle’s true bullish phase may not yet have begun. According to him, Bitcoin remains about 30% below its 2021 peak relative to gold, signaling room for significant upside.
Historical data further supports this outlook. According to CoinGlass, Bitcoin has averaged nearly 8% gains in May over the past decade. If this trend holds, prices could exceed $102,000 this month. Even its median performance for May — just over 3% — would bring it close to $98,000.
Coupled with improving investor sentiment and signs of easing global trade tensions, the conditions may be lining up for Bitcoin to finally crack the $100,000 mark.
North Carolina is making waves in the digital finance world with two new legislative efforts aimed at pulling Bitcoin into the state’s investment strategy.
After weeks of quiet trading, Bitcoin is showing renewed strength, stirring hopes of a run toward the elusive $100K mark.
While Bitcoin hovers just below $95,000, riding the wave of market optimism, financial educator Robert Kiyosaki is urging caution.
Arthur Hayes, co-founder of BitMEX, has sparked a fresh wave of excitement in the crypto world with a bold forecast: Bitcoin could soar to $1 million by 2028. Speaking at the TOKEN2049 conference in Dubai, Hayes linked his projection to the potential return of aggressive monetary easing by the U.S.—suggesting that a flood of dollar […]