Bitcoin Surges Past $99K—Is the $100K Milestone Within Reach Today?

Bitcoin broke above the $99,000 mark late Wednesday, edging closer to the highly anticipated $100,000 milestone. The asset climbed 2.83% in the past 24 hours, trading at $99,330 at the time of writing. Despite experiencing a more than 10% dip from its January peak, Bitcoin’s momentum has remained strong. Glassnode data shows large investors added over 81,300 BTC in the past six weeks, signaling strong institutional accumulation and confidence in long-term value.BTC Nears Psychological Barrier as Altcoins RallyBitcoin’s market activity intensified with trading volume reaching $47 billion, a nearly 50% surge in one day. The climb past $99,000 brought the asset close to breaching the psychological $100,000 level. Analysts say a breakout could trigger a wave of fear of missing out among both retail and institutional investors. Ethereum and Solana also posted gains, following Bitcoin’s lead. Ethereum rose 4.26% to $1,904, while Solana increased 3.7% to $151.61. Glassnode confirmed the number of wallets holding between 10 and 10,000 BTC rose, accumulating over 81,000 BTC since March. The number of wallets holding over 1,000 BTC rose from 1,945 to 2,006 between March 1 and May 7, marking the largest 30-day increase this year. $BTC knocking on the $99K door again...Clear rejection zone just below $100K ; tested multiple times in the past.Price is surging into a major resistance zone.Break above = new highsRejection = pullback likelyBulls vs Bears — who takes control here?#Bitcoin #BTC pic.twitter.com/ECdkJT5fa0— CryptoWhaleLK (@CryptoWhaleLK) May 8, 2025Realized Cap Hits Record High Amid Strong Buying ActivityBitcoin’s realized capitalization hit a new record at $890 billion, marking the third consecutive week of gains for the metric. The rise reflects a growing investment base and continued optimism among holders. Similar behavior was seen in early 2024 before BTC’s last all-time high, suggesting a potential price breakout may be ahead. Ethereum implemented its long-awaited Pectra upgrade on May 7, which introduced smart account features and improved scalability. However, market reaction remained muted. ETH futures stayed at 3%, below the 5% neutral threshold, showing reduced bullish sentiment despite the upgrade’s success. #BITCOIN SMASHES $96.8K TODAY with room to push toward $100K!The king of crypto is showing MASSIVE strength today, up 2.21% to $96,854 after that quick dip below $94K earlier this week. This resilience is exactly what $BTC HODLers have been waiting for! We're seeing... pic.twitter.com/9cRJB9EBja— Alina (@Alina4ever7) May 7, 2025Institutional Support and Market Shifts Fuel GrowthBlackRock’s IBIT fund recorded $6.96 billion in net inflows since January, surpassing the SPDR Gold Trust, which saw $6.5 billion. Analysts suggest the shift reflects rising institutional preference for crypto assets over traditional safe havens like gold. Early this week, some bearish trend emanating from tariff was briefly seen on Bitcoin but this has been unwound after positive sentiment following latest information on US -China trade talks. Specifically, the Federal Open Market Committee left the Fed funds rate in a target range of 4.25% to 4.5% on Wednesday and Fed Chair Jerome Powell pointed to remaining policy effects’ volatility. CME FedWatch data revealed that there was a 76.8% probability that the Fed will stick to its position in June.The post Bitcoin Surges Past $99K—Is the $100K Milestone Within Reach Today? first appeared on Coinfea.