Daniel Walker
Bitcoin has surged past the $100,000 mark, holding strong around $104,000 late Sunday, as renewed global optimism and technical momentum continue to push the worldโs leading cryptocurrency higher. Earlier in the day, BTC briefly topped $105,000, marking one of its strongest performances in months.
According to data from PRIME, Bitcoin is trading at $103,926, showing a minor 0.12% decline over the past 24 hours. Despite the slight dip, it remains within reach of its January all-time high of $108,786, currently sitting just 4.5% below that level.
Technical Indicators Support a Bullish Outlook โ With a Cautionary Note
โBitcoin is maintaining strength above both its 50-day and 200-day moving averages,โ said Vincent Liu, Chief Investment Officer at Kronos Research. โWeโre seeing a rise in institutional involvement and favorable 2025 projections that could lead us toward a fresh all-time high.โ
However, market analysts are also watching the Relative Strength Index (RSI) closely. Bitcoin currently sits in “overbought” territory, which can often signal short-term fatigue in the market.
โWhile this doesnโt guarantee an immediate correction, it increases the chance of some consolidation or sideways movement,โ explained Rachael Lucas of BTC Markets. โHolding above $100,000 and establishing a strong base would be a healthy sign for further upside.โ
Macro Factors Driving Momentum: US-China Trade Talks Spark Optimism
Beyond technicals, global economic developments have also fueled Bitcoinโs rally, especially the positive outcome of U.S.-China trade talks. Concerns over a renewed trade war had previously slowed Bitcoinโs momentum, but weekend negotiations ended with โimportant consensusโ reached between the two nations, according to Reuters.
U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are scheduled to unveil the details of the agreement on Monday, further boosting confidence in global markets.
โThis is a classic macro-driven rally,โ said Min Jung, analyst at Presto Research. โAs Bitcoin dominance climbs to levels last seen before the 2021 bull run, we’re beginning to see capital rotate into altcoins.โ
ETF Inflows and Corporate Buying Also Key to BTCโs Strength
Institutional momentum is not just macro-driven โ itโs also financial. Ongoing inflows into spot Bitcoin ETFs and strategic accumulation by large firms are playing a critical role in sustaining the rally. One major player is Strategy, whose treasury is reportedly increasing BTC exposure.
โThe May 13 U.S. CPI report could be another turning point,โ Liu added. โInvestors need to stay cautious, hedge risk, and keep portfolios diversified in this high-volatility climate.โ
