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Bitcoin has reclaimed the $100,000 price level for the first time since January, reflecting renewed bullish sentiment among investors. Bitcoin (BTC) reclaimed the $100,000 mark on May 8 at 3:22 pm UTC, surging 4.2% from the intraday low of $95,967, according to data from CoinGecko. It marked the third time that BTC has broken through the six-figure level since first achieving it on Dec. 5, 2024. A second all-time high followed on Jan. 20 ahead of US President Donald Trump’s inauguration. Bitcoin price chart in the past year. Source: CoinGecko Unlike the previous $100,000 hits, the new price spike came as Bitcoin market dominance surged above 60%, reflecting potential bearish sentiment for altcoins. Bitcoin dominance below 60% in past $100,000 breakthroughs Bitcoin dominance — the asset’s share of the total cryptocurrency market — has been steadily rising over the past year. During its first run to $100,000 in December 2024, BTC dominance stood at 52%. By January 2025, that figure had increased to 54%. Bitcoin all-time dominance chart. Source: CoinGecko The latest spike in Bitcoin dominance matches historic levels last seen in early 2021, when Bitcoin was trading at around $36,000 and heading toward its previous all-time highs above $60,000. “Bitcoin has been showing strength for weeks now, outstripping other digital tokens, and scarcely flinching against the sort of geo-political events in Asia and the Middle East that may have impacted it in the past,” Mercuryo CEO Petr Kozyakov told Cointelegraph. “With gold also running good all year, there’s now a case for saying that Bitcoin may have proven itself as an economic hedge and a long-term store of value,” he added. Why is the Bitcoin price rising now? Bitcoin’s latest $100,000 breakthrough came amid a combination of political, institutional and macroeconomic factors. Some in the community linked Bitcoin’s latest…

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Filed under: News - @ May 9, 2025 9:23 am