Bitcoin (BTC) market reclaims the $3 trillion milestone, BTC price breaches the $97000 mark.

The cryptocurrency market has reclaimed the milestone of $3 trillion today with a jump of 3.85% and a trading volume of $79.5 billion.

The cryptocurrency market has begun May 2025 in a splendid fashion, with the market cap now exceeding $3 trillion following a 3.85% surge today. As a result, Bitcoin price has breached the $97,000 mark.

On the other hand, the altcoin market records a similar action as the Ethereum price retest its $1,875 mark.

The crypto space was expected to record increased volatility today due to disappointment witnessed by the U.S. in its latest job data statistics. However, the market defied all the odds and recorded a sustained bullish action.

According to the latest reports by the U.S. Department of Labor, the number of unemployed Americans filing for jobless benefits has totalled to just over 241,000 as of 26th April 2025.

This marks a rise from the previous week’s revised figures of 230,000 and exceeds the average estimate of 230,000.

The figures for the past week are being closely monitored by investors as they calculate the possibilities of the price of BTC reclaiming its milestone price of $100,000.

BTC Price Retests $97.5K Today, Is $100K Next?

As of today, the dominance of Bitcoin stands at 63.8%, a jump of 1.75% over the past 24 hours. With this, the dominance has crossed the 63% mark for the first time since 25th January 2021. This highlights a significant increase in the buying-over-selling pressure for it in the market.

On the other hand, the dominance of Ethereum has dropped to 7.4% with an intraday change of 0.88%. Moreover, “Others” market dominance stands at 28.9%, a change of 0.88% during the same period.

When it comes to the ETF market, the Bitcoin ETF has kickstarted May 2025 positively. Notably, it has experienced a net flow of +422.45 million. This highlights an optimist outlook for the BTC price in the market.

With a 24-hour trading volume of $28.5 billion, the BTC crypto is currently exchanging hands at $97,140. Moreover, with a market capitalization of $1.94 trillion, this project is on the path of unlocking another milestone if the bullish sentiment sustains.

The Relative Strength Index (RSI) continues hovering around the overbought range in the daily time frame. On the other hand, its average trendline constantly supports the price action. This suggests a positive outlook for the largest crypto token in the market.

Furthermore, the SMA indicator displayed a similar price action by acting as a strong support to the BTC price chart. Considering the technical sentiments, the price of Bitcoin may undergo significant positive action over the upcoming weekend.

How High Will Bitcoin Price Go This Year?

If the market continues to favour the bulls, the BTC coin price could retest its milestone price of $100,000. Maintaining its bullish action could push the price of this token toward its upper resistance level of $103,000.

Conversely, a bearish reversal could pull the value toward its $95,000 mark. If the liquidation in the market intensifies at that point, the Bitcoin price could further plunge toward its lower support of $91,500.