Bitcoin Tops $100K Again: BlackRock CEO Larry Fink Predicts BTC Could Hit $500,00

Bitcoin's bullish momentum continues. On May 8, BTC surged 6.41% in a single day, once again climbing above the crucial $100K mark.

Bitcoin's price topped $100,000 again on Monday, as technicals remained strong and ETF inflows continued to boost investor confidence in the world's largest cryptocurrency.

Bitcoin rose as much as 6.41% in the past 24 hours, bringing it to a high of $103,376.94 by 08:08 ET (12:08 GMT). The token has now gained at least 0.3% in the last 24 hours.

The recent rally saw Bitcoin recover nearly all of the losses it posted earlier in the year, and saw it breach $100,000 for the first time since early-February.

The momentum was also backed by ETF activity, with the U.S. now hosting 11 Bitcoin Spot ETFs, which collectively hold AUM of over $118.59B.

Their total market cap is at $120.76B, and their daily volume is $2.66B.

BlackRock's iShares Bitcoin Trust (NYSE:IBIT) leads the market with AUM of $62.65B. In the first few days of this month alone, saw 21,303.28 BTC flow into IBIT.

Bitcoin is a potential $10 trillion asset and could hit $500K in 5–10 years, predicts BlackRock CEO Larry Fink. This signals growing institutional faith in crypto.

"I think we will be seeing Bitcoin well above $500,000 in the next five to ten years, and this is a $10 trillion-plus asset,"

The Relative Strength Index (RSI) on 14-day settings currently stands at 75.29, which is typically considered overbought territory.

However, the MACD line is at 3,803.03, well above the signal line at 3,163.09, signaling bullish momentum.

On the other hand, the On-Balance Volume (OBV) is at -492.54K, which indicates some negative volume pressure.

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This article originally appeared on Benzinga