Bitcoin breaks through the $100K threshold once again

Bitcoin breaks through the $100K threshold once again, for the first time in three months, signalling a fresh surge in market confidence. Bitcoin’s value is currently hovering around the $104,000 mark, and analysts are optimistic about the crypto market’s near future. The original cryptocurrency has bounced back by some 30% since previous lows in April 2025, when it dipped to as low as $75,018. Bitcoin has also pulled other digital assets up by several percentage points. In just 24 hours last week, Ethereum (ETH) increased by over 7% in just 24 hours and is currently sitting above $2,500. Dogecoin (DOGE) also saw keen growth and is currently trading at $0.25.

In this article, we delve into the last few months of the crypto market to recap Bitcoin’s recent performance, explore why Bitcoin is going up now, and what the future may hold for the crypto market. 

Bitcoin’s recent performance

Looking back at Bitcoin’s recent performance over the past couple of months shows a steady and reassuring uphill trend. After dipping to around $75,000 in early April, mirroring broader macroeconomic trends sparked by U.S. tariff announcements and geopolitical tension, Bitcoin’s value has slowly increased since its previous low. Last week, BTC rebounded fast, surpassing the $100,000 mark for the first time since February 2025. This sharp recovery is not just a fluke. It is a reflection of shifting levels of confidence in the crypto market, as investors hedge against ongoing uncertainty in traditional markets. Other analysts point to how Bitcoin’s post-halving cycle is playing out as expected, which may have reignited retail enthusiasm. 

Why is Bitcoin going up?

One of the main factors attributed to the recent Bitcoin surge was the announcement of a new U.S. – U.K. trade agreement on Thursday 8th of May, which has helped to alleviate shaky market sentiment. The announcement was followed by positive remarks from the U.S. President Donald Trump about ongoing trade negotiations with other countries, such as China, which served to further bolster investor confidence. Another important reason as to why Bitcoin is going up is the Federal Reserve’s decision to hold interest rates steady at 4.25 – 4.5%, despite political pressure to cut. 

Fueled by renewed market sentiment, Bitcoin ETFs alone saw over $140 million in inflows on the 7th of May, reversing outflows seen in previous weeks. Abu Dhabi’s sovereign wealth fund, the Swiss National Bank, and MicroStrategy have also doubled down on BTC exposure, signaling that Bitcoin is no longer a fringe asset, but an increasingly central part of global portfolio strategies. While technical indicators suggest a short-term correction may be looming, the long-term trajectory is firmly tilted toward further growth, with some forecasts eyeing levels of over $180,000 on the horizon.

What the future holds for the crypto market

Headlines from the past 24 hours are drawing attention not just to Bitcoin, but also to the wider crypto market. Ethereum (ETH), the second largest cryptocurrency by market capitalization, saw  gains of over 20% in 24 hours, currently hovering around $2,500. Other altcoins, such as Dogecoin (DOGE), have followed suit, with DOGE trading at about $0.25, up by over 6% from 24 hours ago. Similarly, Solana (SOL) also saw positive growth, marking an impressive 11% gain over seven days last week. Looking ahead, the broader cryptocurrency market is poised for continued growth, driven by a confluence of factors.

Market analysts believe that surpassing the $100,000 psychological threshold could incite fear of missing out (FOMO), potentially leading to a faster price surge over the coming days and weeks. Other positive indicators include institutional adoption, which remains a bold catalyst as funds continue to flow into crypto-based investment products. Global regulatory developments are also playing a role. For example, frameworks like the EU's Markets in Crypto-Assets (MiCA) regulation and the U.S. administration's crypto-friendly policies have provided much-needed clarity, leading to greater engagement with the market. Experts project that Bitcoin could reach between $180,000 and $200,000 by the end of 2025, with some forecasts suggesting even higher targets.

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