NewsBTC

2 May 2025

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Bitcoin Price Approaches $100,000 Following Significant Rally

Bitcoin (BTC) approaches the $100,000 mark after a rally, reaching a weekly high of $97,483, the highest since February. Recent inflows into Bitcoin and Ethereum (ETH) ETFs exceeded $3.2 billion, with BlackRock’s Bitcoin Trust ETF attracting nearly $1.5 billion in a single week.

Key Points

• Bitcoin dropped 30% to $74,000 after hitting a record high of approximately $109,000 on January 20.
• The current surge reflects a shift towards momentum trading, driven by increased spot market demand.
• Call options for Bitcoin at the $100,000 strike price show significant open interest.
• Ethereum has regained $1,800 support, recovering 14% over two weeks, with potential to reach $2,000.
• Despite recent performance improvements, Ethereum has experienced a year-to-date loss of up to 36% compared to other assets.

Market dynamics are evolving, indicating a balance between macroeconomic factors and short-term momentum.