Bitcoin Breaks Above $100K for First Time in Months — Is the Market Underestimating Its Next Move?

Bitcoin has officially reclaimed six-figure territory, breaking above the $100,000 mark for the first time in nearly three months. On May 8, the leading cryptocurrency surged to an intraday high of $103,978, driven by renewed investor confidence and bullish market momentum. This 33% rebound from April’s lows near $75,000 marks a turning point in what had been a month of uncertainty for crypto markets. The rally also puts BTC within striking distance of its all-time high, reigniting discussions about whether analysts’ upside targets might now be too conservative.

A key catalyst behind Bitcoin’s recent push was a de-escalation in trade tensions between the U.S. and U.K. President Donald Trump’s announcement of a preliminary trade agreement helped ease fears of further tariffs and brought relief to risk-on assets across the board, including cryptocurrencies. At the same time, spot Bitcoin ETFs in the U.S. have seen a wave of new capital inflows—over $5 billion in the past few weeks alone—suggesting that institutional appetite for digital assets is growing once again. These ETFs, seen as a gateway for traditional investors to enter crypto, have played a pivotal role in supporting Bitcoin’s ascent.

Market strategists are now reconsidering previously issued price forecasts. Standard Chartered has predicted a $120,000 price point for Bitcoin by the end of Q2, but some observers believe the target may not fully reflect the pace or scale of BTC’s current momentum. With growing investor interest, declining supply due to the April halving, and a recovering macroeconomic outlook, the path to even higher valuations may be opening up faster than expected. Technical analysts also point to a possible breakout scenario if BTC can decisively close above $105,000, with the next major resistance sitting just above $110,000.

Still, caution remains warranted. Despite the bullish sentiment, Bitcoin continues to display its signature volatility, and relatively low trading volumes could lead to sharp pullbacks. Moreover, its correlation with equities means any significant downturn in traditional markets could still drag crypto with it. But for now, Bitcoin’s return to $100K is being seen as a statement of strength—one that suggests both retail and institutional investors are once again betting big on crypto’s long-term trajectory.