Bitcoin Price Analysis: Can BTC Hit New ATH After Retaking $100,000?

Bitcoin (BTC) surged past $100,000 on Thursday as markets reacted to easing trade tensions, the US-UK trade deal, and news that US-China trade talks were set to take place over the weekend. 

The flagship cryptocurrency has regained momentum after a marginal decline on Friday, as buyers set their sights on a move past $105,000. 

BlackRock’s IBIT Scoops Up 3,450 BTC 

BlackRock’s Bitcoin ETF (IBIT) acquired an additional 3,450 Bitcoin on Friday as it continues to see record inflows and hit new milestones. The ETF has registered its 19th straight day of inflows as the flagship cryptocurrency plots a push towards a new all-time high after surging past $100,000 on Thursday. IBIT registered $356 million in inflows over the past 24 hours, taking its total inflows to over $44 billion. It also holds a staggering 625,000 BTC in its treasury. BlackRock has seen consistent ETF inflows, outpacing immediate competitors like Fidelity’s FBTC. 

The asset manager also recently submitted the S-1 amendment for the BlackRock Bitcoin ETF (IBIT) and also discussed the risks of quantum computing. However, Bloomberg ETF strategist James Seyffart called it basic risk disclosure, stating, 

“To be clear. These are just basic risk disclosures. They are going to highlight any potential thing that can go wrong with any product they list or underlying asset that's being invested in. It’s completely standard. And honestly makes complete sense.”

Meanwhile, Bitcoin ETF inflows are nearing a significant milestone that could spark a substantial price jump. According to reports, rolling 30-day inflows are just 10,000 BTC below the 60,000 BTC threshold, suggesting strong price appreciation for Bitcoin, according to analysts. 

What’s Behind Bitcoin’s Stunning Increase? 

Bitcoin posted a sharp rally on Thursday to surge past $100,000 and settle at $103,963. The price action was because of growing institutional demand, the US-UK trade deal, and news that US-China trade talks were scheduled over the weekend. The price jump came despite the Federal Reserve’s decision to leave interest rates unchanged. Federal Reserve Chair Jerome Powell has not committed to a timeline for potential easing. However, markets are already pricing in a 70% chance of a rate cut in July. President Trump intensified his criticism of the Fed Chair after the decision to leave rates unchanged, stating, 

“Now, if the chairman of the Fed ... if he would lower interest rates like China did, like I think the UK did, but like numerous other countries have done, it would be, it’s like jet fuel ... but he doesn’t want to do it. I think he doesn’t want to do it. Probably he’s not, he’s not in love with me. I think that’s, it’s sort of a crazy reason, but that’s the way life is.”

With Bitcoin trading above the $100,000 milestone, traders are optimistic of further upside, especially after the US and UK signed a comprehensive trade deal. While economists called the deal “only a framework,” markets welcomed the prospect of easing trade tensions. As a result, US equity indexes posted notable gains, with the S&P 500 rising 0.6%, while the Nasdaq registered an increase of 1.1%. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) is up nearly 1% during the ongoing session as buyers regain control after a marginal dip on Friday. The flagship cryptocurrency reclaimed $100,000 for the first time since February, with momentum shifting in favor of buyers. On-chain metrics suggest a continuation of bullish sentiment as BTC eyes a move past $105,000. Meanwhile, crypto ace Arthur Hayes expressed confidence Bitcoin could surge to $150,000 this year. However, he noted that inflation is also likely to continue, which investors argue would be good for BTC and other risk assets. Hayes stated, 

“I think that the setup is perfect for a rally on risk assets, just like we saw in the third quarter of 2022 until early 2025. We have a similar setup today: We have a lot of fear, uncertainty, and doubt in the markets. The monetary authorities—especially in America—cannot handle that, so they're going to resort to money printing.”

BTC registered a notable rise on Thursday (May 1) to cross $96,000 and settle at $96,458. The flagship cryptocurrency continued to push higher on Friday, rising 0.50% to $96,939. However, it lost momentum over the weekend, falling 0.98% on Saturday and 1.66% on Sunday, slipping below $95,000 and settling at $94,390. Despite the bearish sentiment, BTC recovered on Monday, rising 0.41% to $94,773. Bullish sentiment intensified on Tuesday as BTC registered an increase of over 2% to cross $96,000 and settle at $96,845.

Source: TradingView

The price faced volatility on Wednesday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as BTC registered a marginal increase to claim $97,000 and settled at $97,013. Bullish sentiment intensified on Thursday as markets rallied. As a result, BTC surged over 6%, shattering the $100,000 barrier and settling at $013,096. However, buyer exhaustion led to a marginal decline on Friday as the price dropped to $102,851. The current session sees BTC marginally up, having reclaimed $103,000 and trading around $103,558.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.