Bitcoin BTC/USD on Thursday evening crossed the $100,000 milestone for the first time in three months

Bitcoin BTC/USD touched the $100,000 milestone on Thursday evening for the first time in three months, spurring debate over whether this marks the beginning of a sustainable bull run or a momentary technical breakout.

While experts are now focused less on the price level itself and more on what the breakout signals for Bitcoin’s evolving role in global finance, several viewed the move as setting the stage for further upside potential in the world’s leading cryptocurrency.

What Happened: After trading sideways for several months, Bitcoin experienced a swift rally in recent days, driven partly by macroeconomic trends and optimism surrounding institutional adoption.

Bitcoin is currently trading at $101,450, having reached an intraday high of $101,784, up about 5% in the past 24 hours. Ethereum ETH/USD is also rallying, up 13%, while Solana SOL/USD and XRP XRP/USD gained 10% and 6%, respectively.

Expert Take: Christian Thompson, Managing Director at the Sui Foundation, said he believes the narrative is shifting from passive holding to real-world use cases.

"Bitcoin hitting $100,000 is a big milestone, but the real story is what happens next," Thompson said, speaking with Benzinga. "We're entering a phase where you can actually use it — to borrow, lend or access new kinds of financial tools."

He added that platforms like Sui are enabling developers to build more practical and secure applications, likening the current transition to the shift from plug-in to battery-powered tools.

"It suddenly made everything more mobile, more accessible, and easier to build with. That's what we're seeing with Bitcoin now," Thompson said.

Pointing to the broader picture, Duncan Moir, President of 21Shares, highlighted Bitcoin’s growing identity as a standalone asset class.

"Bitcoin’s recovery to $100,000 isn't just a milestone: it's a powerful confirmation that crypto is entering a new era," Moir said in a note to Benzinga. "Investors are no longer treating Bitcoin as just a speculative play. It's becoming a strategic allocation and a store of value."

From a technical perspective, Arthur Azizov, Founder of B2 Ventures, pointed to several key breakouts.

"BTC has broken out of the descending channel and pennant formation, both indicating bullish patterns. A candle close above the 200-period MA provides further strength," he said.

While he warned that the current RSI suggests an overbought condition, Azizov noted strong volume support and identified $103,000–$105,000 as the next key resistance zone.

"Also, Trump's announcement about removing tariffs on UK steel and aluminum and the Fed’s decision to preserve rates have lifted risk assets.

Meanwhile, Strategy's MSTR move to increase its BTC reserves is reinforcing institutional confidence," he added.

Grigore Roșu, CEO of Pi Squared, further noted that Bitcoin's price action seems to reflect broader sentiment.

"The upswing follows the Fed's recent decision to maintain interest rates, which usually puts pressure on risk assets," he said. "On the other hand, Ethereum's 12% rally in the past 24 hours showcases confidence, fueled by the successful implementation of its Pectra upgrade."

Anthony Anzalone, CEO of XION, weighed in that perhaps experts are divided on whether this signals a new bull market.

"Bitcoin crossing $100k solidifies its role as ‘digital gold.’ Some experts like Charles Hoskinson are even more bullish, predicting BTC could reach $250k by the end of 2025. But time will tell!"

However, Alice Liu, Head of Research at CoinMarketCap, highlighted that several macro trends are supporting Bitcoin's price move.

"The U.S. Dollar Index has dropped 9% since January, and the U.S. M2 money supply has risen 4% year-on-year—both supportive of Bitcoin," she told Benzinga.

She also noted that Bitcoin exchange balances are at their lowest since 2018, indicating long-term accumulation.

"It's still too early to call this a full-fledged bull market, but the fundamentals are aligning."

See More: Best Cryptocurrency Scanners

Related Articles:

Exclusive: Robinhood Is Exploring Launching a Crypto-Focused Tiered Loyalty Program

Optimism Price Prediction: Can OP Token Hit $2 By 2025 As Gasless Transactions Drive Adoption?

This Article Is Useful Relevant Helpful

Contribute

Support Benzinga Gives Unbiased Survey Results