Bitcoin (BTC) has reached a significant milestone, trading at approximately US$ 100,000 on the morning of May 8, 2025, marking a 3% increase. This surge reflects the growing optimism among traders and investors, buoyed by favorable macroeconomic indicators and developments in global trade.
The cryptocurrency is currently priced at R$ 573,870.25, as the market reacts positively to the recent announcement from the Federal Reserve, which decided to maintain interest rates unchanged. This decision has alleviated some of the pressure on risk assets, including Bitcoin. André Franco, CEO of Boost Research, noted that the Asian markets and US index futures opened higher, driven by expectations of a potential trade agreement between the US and the UK. He commented, "The Fed signaled concerns with inflation and unemployment, which generated uncertainties about the next steps in monetary policy. Given this scenario, both gold and Bitcoin have appreciated in the short term, reflecting investors' search for protection assets."
On the technical front, Bitcoin has shown resilience, recovering from a low of US$ 93,091 on May 6, 2025. Analysts suggest that Bitcoin needs to remain above US$ 98,700 to position itself for a breakout towards US$ 104,500. Paulo Aragão, host of the Giro Bitcoin podcast, emphasized, "The Bitcoin needs to stay above ~US$ 98,700 in the new week's test to position itself for a breakout towards US$ 104,500." This indicates a critical threshold that traders are watching closely.
Recent data from crypto analytics firm Santiment revealed that Bitcoin wallets holding between 10 and 10,000 BTC have accumulated 81,338 BTC in the last six weeks, reflecting growing confidence among smaller holders. Additionally, the spot Bitcoin ETF from BlackRock has attracted approximately US$ 4.7 billion in new capital inflows over the past 16 days, suggesting institutional interest is on the rise.
Eric Balchunas, an ETF analyst at Bloomberg, predicted that the spot Bitcoin ETF could amass triple the assets under management of gold ETFs within three to five years, further solidifying Bitcoin's position as a leading asset class.
However, some analysts caution that the market is experiencing a phase of profit-taking, especially as Bitcoin approaches the psychological barrier of US$ 100,000. Glassnode, a blockchain analytics firm, pointed out that buying and selling conditions are currently balanced around this level, which may lead to increased volatility. "An increase in profit-taking has been observed in recent weeks, with the recent high attracting more than US$ 1 billion/day in net capital inflows," they stated.
As Bitcoin strives to maintain its upward trajectory, other cryptocurrencies are also experiencing gains. Ethereum (ETH) has risen 5.8% to US$ 1,943, breaking out of its three-week consolidation range between US$ 1,700 and US$ 1,900. Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) have also seen significant increases, with gains of 5.1%, 6.3%, and 5.9%, respectively.
Market analysts are closely monitoring the situation, particularly as US markets open. QCP Capital analysts noted, "With the opening of US markets, all eyes are on whether this rally will be sustained or if it runs the risk of a classic 'buy the rumor, sell the fact' reversal after the official confirmation of the counterpart in Trump's trade deal." This reflects the cautious optimism prevailing in the market.
In the broader context, Bitcoin's recent price movements are situated within a landscape of ongoing economic uncertainty. The Federal Reserve's decision to keep interest rates steady comes amid concerns regarding inflation and unemployment, which have been exacerbated by trade tensions, particularly between the US and China. A meeting between representatives of both countries to discuss tariff issues was announced, potentially signaling a thaw in relations that could benefit risk assets.
Despite the positive momentum, analysts urge caution. The resistance level around US$ 98,800 poses a challenge for Bitcoin as it seeks to establish a firm footing above US$ 100,000. If bears manage to pull the price below the 20-day EMA, currently at US$ 93,091, it could open the door for a deeper correction, potentially dragging the price down to the 50-day simple moving average at US$ 87,441.
Looking ahead, the cryptocurrency market remains dynamic, with traders eager to capitalize on price movements. The overall sentiment is optimistic, but the potential for volatility remains high as economic conditions evolve. Investors are advised to stay informed and exercise caution, particularly as the market reacts to upcoming economic indicators and geopolitical developments.
As of May 8, 2025, Bitcoin is trading at R$ 573,870.25, with R$ 1,000 buying approximately 0.0017 BTC and R$ 1 buying about 0.0000017 BTC. The day has seen notable performances from various cryptocurrencies, with Pudgy Penguins (PENGU), EOS (EOS), and Virtuals Protocol (VIRTUAL) leading the gains at 27%, 19%, and 18%, respectively. Conversely, Tokenize Xchange (TKX), Nexo (NEXO), and Gate (GT) have faced declines of -0.1% each.
This article does not constitute investment advice, and readers are encouraged to conduct their own research before making investment decisions.
