Bitcoin (BTC) Reclaims the $99,000 Mark, Igniting Optimism Among Analysts

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.

Bitcoin (BTC) has reclaimed the $99,000 mark for the first time in over two months, sparking 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%, showcasing 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 been discussing the prospect of Bitcoin’s price reaching the $100,000 mark.

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

Previously, a Bitfinex forecast suggested that if Bitcoin manages to stay above the $95,000 level, then we can expect to see a return to all-time highs. This prediction seems to be unfolding as Bitcoin is now trading above this threshold.

Moreover, several market indicators and developments support the bullish sentiment. An analyst disclosed that Bitcoin has passed 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 concluded.

Meanwhile, CryptoQuant highlighted that over the past three days, the amount of stablecoins sent to Binance has grown significantly. 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, such as 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.

Furthermore, Tether dominance (USDT.D) has experienced a downturn. A decrease in USDT.D usually indicates that investors are transferring funds from stablecoins to other crypto assets, which could be contributing to the ongoing rally.

Finally, on the legal front, two Bitcoin-reserve bills have been passed, and several more are progressing through the legislative process. This institutional acceptance is another factor supporting the bullish case for Bitcoin. As Congress continues to work on bills that could impact the crypto market, two Bitcoin-reserve bills have been enacted by the U.S. president, while multiple more bills are advancing through the legislative process.