Bitcoin Price Hits $99,000: Is $100,000 Coming Next?

Bitcoin (BTC) has reclaimed the $99,000 mark for the first time in over two months, igniting optimism among analysts who anticipate a price breakthrough above the $100,000 mark soon.

Notably, BTC’s performance over the past month has been quite remarkable. Its value has appreciated by 31.8%, representing a strong comeback from its Liberation Day lows in early April.

Is Bitcoin on Track to Reach $100,000?

In the early Asian trading hours, the largest cryptocurrency reached $99,388, marking its highest price since February 21, 2025. At press time, Bitcoin’s price had adjusted to $98,874. BeInCrypto data showed that the coin experienced a slight 0.3% dip in the past hour.

Yet, this increase has fueled optimism that a rise to $100,00 is inevitable. Market participants on X (formerly Twitter) have echoed the positive outlook.

“Bitcoin is knocking on the door of $100,000 again. Tick, tock…,” Anthony Pompliano wrote.

Previously, a Bitfinex forecast suggested that if Bitcoin holds above $95,000, a revisit to its all-time highs becomes likely. This prediction appears to be materializing as Bitcoin now trades above this threshold.

Furthermore, several market indicators and developments support the bullish sentiment. An analyst revealed that Bitcoin has moved past a price range where many traders were holding short positions with high leverage.

“There is no significant resistance until around $100,000,” the analyst stated.

In their weekly newsletter, Glassnode also noted that Bitcoin’s realized cap has reached a record high of $889 billion, growing by 2.1% over the past month. This increase reflects rising investor confidence and capital inflows. 

The firm pointed to signs of renewed market strength, with significant capital flowing back into Bitcoin, particularly through ETFs. Over the last two weeks, more than $4.6 billion has entered Bitcoin ETFs.

“The total AUM held within the US spot ETFs has now climbed to over 1.171 million BTC, which is just 11,000 BTC shy of the 1.182 million BTC ATH,”  the newsletter highlighted.

This surge in inflows has largely reversed the earlier period of outflows, further indicating strong demand for Bitcoin.

“Strong ETF inflows, alongside improved investor confidence, helps to paint a picture of stronger tailwinds supporting the Bitcoin market,” Glassnode added.

Meanwhile, CryptoQuant highlighted that over the past three days, the amount of stablecoins sent to Binance has grown substantially. The peak was on May 6, when the inflow reached nearly $1 billion, making it the largest single-day deposit since April.

“Stablecoin inflows typically reflect investor readiness to enter the market, as these assets are often sent to exchanges in anticipation of buy-side activity,” the post read.

In addition, Binance’s latest reserve disclosure showed a decline in the holdings of several major cryptocurrencies, including Bitcoin, Ethereum (ETH), BNB (BNB), and Solana (SOL). In contrast, the 2.6% increase in Tether (USDT) reserves stands out. 

This uptick in stablecoin holdings suggests a rise in liquidity. This signals that traders are positioning themselves for future market transactions. 

Adding to the optimism, Tether dominance (USDT.D) has experienced a downtick. A decline in USDT.D typically indicates that investors are moving funds from stablecoins into other crypto assets, further fueling the rally.

Legislative progress is another tailwind for Bitcoin. Two Bitcoin-reserve bills have been enacted, and multiple more continue to advance through the legislative process. This implies that there is increasing institutional and governmental acceptance of Bitcoin.

As Bitcoin approaches the $100,000 threshold, investors are closely monitoring whether this rally will sustain its momentum or face resistance. With market conditions aligning favorably, the crypto community remains on edge for what could be a milestone for BTC.