Bitcoin has officially set a new record, with its price soaring to unprecedented heights in May 2025. On Friday, May 9, Bitcoin's price reached $102,635 on the Binance exchange and 8,416,799,941 Tomans on Nobitex, solidifying its position at the top of the cryptocurrency market. With a market capitalization of $2,041,212,243,705, Bitcoin continues to dominate the digital currency landscape.
In the past hour alone, Bitcoin saw a slight increase of 0.07%. Over the last day, it recorded a significant rise of 4.29%, while in the past week, its value surged by 5.93%. This impressive growth has analysts buzzing about the potential for even higher prices as the market continues to evolve.
According to Glassnode, a prominent blockchain analytics firm, long-term holders of Bitcoin—defined as wallets that have held coins for at least 155 days—may begin to take profits at the $99,900 price level. This aligns with historical behavior, where long-term holders typically start realizing profits when their holdings reach approximately 350% of paper profit.
In a recent analysis posted on social media platform X, Glassnode highlighted that as Bitcoin approaches the $99,900 mark, selling pressure could increase. To counterbalance this potential wave of selling, strong demand will be necessary to maintain price momentum.
Moreover, Glassnode noted that another source of selling pressure might come from wallets that purchased Bitcoin earlier this year, when the price fluctuated between $95,000 and $98,000. These holders managed to avoid a broader sell-off last month, when Bitcoin dipped to $75,000, but they may now be tempted to exit their positions at breakeven or with minimal profit.
As Bitcoin's price climbs, it creates a crucial resistance zone around the $99,900 level, which could pave the way for price discovery above the $100,000 threshold. The total market capitalization of the global cryptocurrency market currently stands at $3.06 trillion, marking a 2.54% increase from the previous day. Bitcoin alone accounts for 64.17% of this market, despite experiencing a slight daily decrease of 0.07%.
In the past 24 hours, the overall cryptocurrency market volume reached $102.73 billion, reflecting a substantial 24.09% rise. Notably, the total volume in decentralized finance (DeFi) is estimated at $19.9 billion, representing 19.37% of the total market volume over the last day. Additionally, stablecoins accounted for $93.95 billion, making up 91.45% of the total market volume.
In terms of other major cryptocurrencies, Ethereum has also seen positive movement. As of the latest updates, Ethereum's price is approximately $1,899.09, with a 24-hour increase of 3.66% and a weekly rise of 4.72%. Other cryptocurrencies are also experiencing upward trends, with notable gains in assets like Ripple and Binance Coin.
Investors and analysts alike are closely monitoring these developments, as the cryptocurrency market remains highly volatile and susceptible to rapid changes. The recent surge in Bitcoin's price has reignited discussions about the future of digital currencies and their potential to reshape financial systems.
The excitement surrounding Bitcoin's record-breaking price has sparked a renewed interest in cryptocurrencies, with many hoping that this trend will continue. As more individuals and institutions enter the market, the demand for Bitcoin and other digital assets may continue to rise, further driving prices upward.
In summary, Bitcoin's recent performance showcases its resilience and dominance in the cryptocurrency market. With the potential for prices to exceed $100,000, investors are eagerly watching for signs of continued growth and the impact of long-term holders on market dynamics. As the digital landscape evolves, Bitcoin's journey remains a focal point for both seasoned investors and newcomers alike.
