Bitcoin has climbed to $99,475 and as of 4:57am ET on Thursday, May 8th, it has come very close to the $100,000 mark. The rally is driven by macroeconomic uncertainty, troubling US monetary policy, and investors flocking to alternative assets.
Bitcoin last saw this milestone on February 1st before the US implemented mutual tariffs on all countries.
The 24-hour 2.67%, or more than $2,500, will follow the Federal Reserve’s decision to keep interest rates at zero, and will take an eye-opening decision to adopt a “waiting” view after slowing growth and geopolitical uncertainty.
Persistent trade tensions between the US and China also supported the market. President Donald Trump has excluded easing tariffs of 145% on Chinese imports as part of a partial trade deal, and strengthened the toughest policies that have contributed to the global economic slowdown. “No,” Trump firmly told them when asked about possible tariff cuts.
In the meantime, US Treasury Secretary Scott Bescent is to hold consultations with Swiss Chinese counterparts on the ongoing economic conflict.
It is interesting to note that data and technical analysis reveals that Bitcoin is beginning to show strong yet slightly cooled momentum.
Historically, similar MACD operations have been successful in price movements ranging from $1,000 to $2,000.
The $87,892 50-day SMA shows that assets are well above the trend. The 14-day RSI of 66.6 also provides evidence that it is approaching the acquired area. The basic case is that BTC tests between $100,000 and $101,000 relatively quickly.