On May 8, 2025, Bitcoin (BTC) reclaimed the prestigious $100,000 price level for the first time since January, highlighting a resurgent optimism among investors. The cryptocurrency experienced a notable surge of 4.2%, rising from an intraday low of $95,967, according to data from CoinGecko.
This significant milestone marked the third instance where Bitcoin has crossed the six-figure threshold since first achieving it on December 5, 2024. A subsequent all-time high was noted on January 20, coinciding with the presidential inauguration of Donald Trump.
Unlike previous instances where Bitcoin reached the $100,000 mark, the latest surge was accompanied by a rise in Bitcoin’s market dominance, pushing above 60%. This upward trend suggests a potential bearish shift for altcoins, as Bitcoin asserts its strength in the market.
Bitcoin Dominance Dynamics
Bitcoin dominance denotes the cryptocurrency’s share of the total market, which has been on a steady increase over the past year. During its initial rise to $100,000 in December 2024, BTC’s dominance stood at 52%, which increased to 54% by January 2025. This latest dominance surge matches levels last observed in early 2021, as Bitcoin navigated its path toward previous all-time highs.
Petr Kozyakov, CEO of Mercuryo, remarked, “Bitcoin has been showing strength for weeks, outpacing other digital tokens and remaining stable amid geopolitical uncertainties.” He further emphasized that with gold prices climbing, Bitcoin may be establishing itself as a reliable economic hedge and a long-term value store.
Drivers of Bitcoin’s Price Surge
The latest increase in Bitcoin’s price has been attributed to a mix of political developments, institutional interest, and macroeconomic factors. Speculation surrounding a potential trade deal between the U.S. and the U.K. ignited interest in Bitcoin, especially following comments from Donald Trump regarding such discussions.
Vincent Liu, CIO at Kronos Research, stated, “Bitcoin is hovering near the psychologically significant $100,000 mark, with optimism driven by Trump’s remarks on a major trade deal.” Additionally, the burgeoning interest in Bitcoin exchange-traded funds (ETFs) contributed to this positive momentum, with recent reports indicating substantial inflows in the past trading week.
Despite the bullish momentum, key economic data expected from the U.S. on May 12 and May 13 will be critical in determining Bitcoin’s capacity to maintain its position above $100,000. Liu mentioned the importance of continued narratives surrounding trade deals evolving into tangible outcomes.
Ben Caselin, CMO at VALR, voiced optimism about Bitcoin reaching new heights beyond $110,000 sooner rather than later, highlighting seasonal dynamics that may attract retail investors moving into the latter stages of Bitcoin’s four-year cycle.
As the landscape of cryptocurrency regulation and strategic investments in Bitcoin evolve, there is potential for sustained growth beyond 2025. The future of Bitcoin appears promising as it continues to solidify its role in the financial ecosystem.
Additional reporting by Amin Haqshanas.
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