Bitcoin’s upward momentum continues to defy gravity as the world’s largest cryptocurrency surged past $97,000 on May 1, 2025, reaching a 24-hour high of $97,315.
Trading at $97,109 as of late Thursday morning, Bitcoin has posted impressive gains of 3.3% in the past 24 hours and 14% since Liberation Day.
This price action represents a remarkable 21% rebound from February’s low of $78,900, with Bitcoin now consolidating just below the R1 pivot resistance at $97,981.
Market participants are watching closely as BTC inches toward the psychologically important $100,000 threshold, which would mark another historic milestone.
Technical indicators are flashing bullish signals across the board.
Bitcoin has displayed consecutive breakouts from bullish flag patterns on 4-hour charts, with a recent swing high at $97,433.
It’s like watching a rocket ship refuel mid-flight—each pattern suggesting another potential leg up before the final push toward uncharted territory.
Institutional involvement continues to drive market momentum.
Strategy (formerly MicroStrategy) recently acquired an additional 15,355 bitcoins, bringing their total holdings to 553,555 BTC at an average purchase price of $68,459.
Meanwhile, U.S.-listed spot Bitcoin ETFs recorded substantial net inflows of $2.68 billion in the past week alone.
The cryptocurrency’s market capitalization has reached 1.93 trillion dollars as investor confidence continues to strengthen.
The broader cryptocurrency market is riding Bitcoin’s coattails, with the CoinDesk 20 index up 2.2%.
Dogecoin led major cryptocurrencies with a 4% gain, while Ethereum and BNB posted increases of 1-3%.
Macroeconomic factors are also providing tailwinds, with growing optimism surrounding potential U.S.-China trade talks.
After previous tariff implementations caused significant Bitcoin declines, signs of easing tensions have renewed focus on Bitcoin’s upward trajectory.
The Fear & Greed Index currently sits at 65, indicating Greed sentiment that often precedes significant price movements.
The current surge appears to be supported by increasing retail FOMO as more mainstream investors rush to participate in the cryptocurrency market.
AI models suggest Bitcoin could reach the coveted $100,000 mark by the end of May 2025, with some analysts eyeing potential targets as high as $106,000.
With Bitcoin’s market cap now hovering around $1.92 trillion, the question remains: is $150,000 within reach this year?
