Bitcoin is surging toward the psychologically critical $100,000 mark on May 7, 2025, trading at $97,032 after a powerful rally that has added nearly $23,000 to its price in just three weeks. The world’s largest cryptocurrency is showing no signs of slowing down as bullish momentum builds across multiple timeframes, fueled by a combination of strong on-chain metrics, favorable macroeconomic developments, and growing institutional interest.
The rally began in mid-April when Bitcoin bottomed near $74,434 before embarking on a nearly uninterrupted climb that has brought the asset to the doorstep of six figures. Today’s session saw Bitcoin reach an intraday high of $97,625, with a low of $95,829, as buyers consistently stepped in on every pullback. The 24-hour trading volume sits at $76.98 billion, underscoring the intensity of current market participation.
TL;DR
- Bitcoin trades at $97,032, up 3% in 24 hours, with a market cap of $1.927 trillion
- Realized capitalization reaches a record $890 billion, signaling strong holder conviction
- Technical indicators flash buy signals on daily and weekly timeframes
- US-China trade talks spark optimism across risk assets including crypto
- Key resistance at $98,000 — breakout could send BTC to $100,000
Realized Cap Signals Deep Conviction Among Holders
One of the most significant developments accompanying Bitcoin’s current rally is the surge in its realized capitalization, which has now reached $890 billion. This metric, which calculates the total value of all Bitcoin based on the price at which each coin last moved on-chain, provides a far more nuanced picture of market health than simple market capitalization.
A rising realized cap indicates that long-dormant coins are being transferred at higher prices, typically reflecting strong accumulation rather than speculative flipping. The fact that this metric has climbed in tandem with Bitcoin’s price suggests that the current rally is backed by genuine capital inflows, not just leveraged positioning. Institutional buyers, corporate treasuries, and sovereign wealth funds are all believed to be contributing to this deepening pool of committed capital.
Technical Setup Favors a Breakout
From a technical analysis standpoint, Bitcoin’s chart is painting an overwhelmingly bullish picture. On the daily timeframe, the asset maintains a strong uptrend with all key exponential and simple moving averages — spanning from the 10-period to the 200-period — aligned in positive territory. The price structure shows a series of higher highs and higher lows, the textbook definition of a healthy bull trend.
The four-hour chart reveals a V-shaped recovery from a pullback to approximately $93,376, with strong bullish candles and increasing volume confirming renewed buyer interest. Support has firmed around $95,500, a level that previously acted as resistance and has now flipped to become a launchpad for higher price action.
The moving average convergence divergence (MACD) and the momentum indicator (10) both issue buy signals, while the relative strength index (RSI) remains in neutral territory, suggesting there is still room for further upside before the asset enters overbought conditions. This convergence of neutral and positive signals often precedes breakout scenarios.
Macro Tailwinds: US-China Trade Optimism
Beyond the technicals, Bitcoin is benefiting from a significant macroeconomic catalyst. Reports that the United States and China are engaging in substantive trade discussions have sparked broad-based optimism across risk assets. Bitcoin, which has increasingly become a barometer for global liquidity conditions, has rallied for a second consecutive day as traders position for a potential de-escalation in the trade war.
The correlation between Bitcoin and broader risk appetite has strengthened considerably in 2025, with the cryptocurrency responding positively to any signs of improved US-China relations. The prospect of reduced trade tensions tends to weaken the US dollar and boost appetite for alternative stores of value — dynamics that play directly into Bitcoin’s favor.
Resistance at $98,000 Stands Between Bitcoin and Six Figures
The immediate hurdle for Bitcoin lies at the $97,938 to $98,000 resistance zone. A decisive break above this level, particularly on strong volume, could rapidly propel the price toward the $100,000 psychological milestone. The one-hour chart shows micro-consolidation just below this resistance, with candle patterns displaying small bodies and long lower wicks — a pattern that typically indicates buyers are absorbing selling pressure in preparation for another leg higher.
However, traders remain cautious about the possibility of a double-top formation if Bitcoin fails to clear $98,000 convincingly. Key support at $95,500 and the more critical $92,000 level below that would serve as safety nets in the event of a pullback.
Why This Matters
Bitcoin’s approach toward $100,000 represents more than just a round number — it marks a critical psychological threshold that could trigger a new wave of mainstream adoption and institutional allocation. The confluence of a record realized cap, bullish technical setups, and favorable macroeconomic conditions creates a uniquely powerful tailwind. If Bitcoin can break through $98,000 resistance with conviction, the path to six figures appears remarkably clear. The market is watching closely, and the next 48 hours could determine whether Bitcoin enters a new era or faces another consolidation phase before its next major move.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile, and past performance is not indicative of future results. Always conduct your own research before making investment decisions.
realized cap at 890b is the real story here. people arent just holding, theyre moving coins at higher prices and still not selling. thats conviction not speculation
the 98k resistance is the last wall before six figures. if we break that on weekly close its over
Been watching the 74k bottom play out since mid-April. The fact that we added 23k in three weeks on real volume is different from the usual fakeout pumps.
76.98b in 24h volume and people still calling it a dead cat bounce. the data literally says otherwise