Bitcoin is again buying and selling above the psychological $100,000 value degree prefer it by no means left. After months of declines, the main cryptocurrency has reclaimed $100,000 for the primary time since January, and the crypto Concern and Greed Index is now again into the greed threshold.
Curiously, this break above $100,000 additionally comes with the Bitcoin dominance above the 60% threshold. That is the primary time Bitcoin dominance is breaking above $100,000 with such dominance over the market, which lends weight to the sustainability of the present rally.
Bitcoin Value Breaks $100,000 Once more, However This Time The Market Appears Totally different
Bitcoin’s return above the $100,000 degree has injected new power into the broader crypto market, following a number of weeks of value stagnation and market hesitation. After enduring a drawn-out part of correction and sideways motion, the main cryptocurrency has now managed to clear a number of resistance zones up to now week, although just a few extra stand in the way in which earlier than new all-time highs above $109,000 could be established.
It’s straightforward to imagine that Spot Bitcoin ETFs are solely accountable for the present rally, however the information suggests in any other case. Inflows into these ETFs have averaged simply $129 million over the previous two days, which is a comparatively small determine in comparison with the $700 million-plus inflows seen every day throughout Bitcoin’s final push previous $100,000 in January. Fairly than being powered by ETF exercise alone, the present surge is a mixture of macroeconomic developments and market-specific shifts which have converged over the previous few weeks to assist the upward value momentum.
A big contributor to the improved sentiment is the U.S.-U.Okay. commerce settlement introduced on Could 8, 2025. President Donald Trump and Prime Minister Keir Starmer launched a brand new deal that retains the ten% U.S. tariff on British imports intact whereas the U.Okay. lowers its personal tariffs to 1.8% and expands entry to American items. This settlement has cooled what had been rising investor nervousness. The worry of escalating tariffs had beforehand helped push Bitcoin right down to a low of $74,000 in early April. Now, with tensions easing, capital is flowing again into danger belongings, giving Bitcoin an added push at a vital second.
Is BTC’s Rally Above $100,000 Sustainable?
In comparison with earlier surges previous six figures, this rally is unfolding below notably completely different market circumstances. One of many clearest variations is Bitcoin’s dominance, which now sits above 60%.
This degree of dominance factors to a stronger structural assist beneath the value motion. As famous by crypto analyst Rekt Capital, there’s a risk that the Bitcoin dominance will proceed to 71% over time.
On-chain information additional strengthens the case for the sustainability of the present rally. Change balances have been declining for some time, which has contributed to the present uptrend. This pattern is matched by stablecoin inflows into exchanges, which generally precede shopping for exercise.
On the time of writing, Bitcoin is buying and selling at $102,900, with an intraday excessive of $103,890. This places it at 5.7% approach from reclaiming its January all-time excessive of $108,780. In line with glassnode information, about 3 million BTC have returned to a state of revenue between April’s low of $74,000 and the present value motion.
