Bitcoin Price Nears Record High Amid Explosive Weekly Rally
Bitcoin (BTC) is back in the spotlight, roaring past $99,800 and inching toward a new all-time high. The crypto market is heating up this week as Bitcoin’s price action defies expectations, fueled by a wave of bullish developments including global trade negotiations, pro-crypto regulation, and renewed institutional demand.
By TradingView – BTCUSD_2025-05-08 (5D)
What’s Driving Bitcoin’s Surge?
🔹 US-China Trade Talks in Switzerland
Bitcoin’s momentum picked up after the U.S. and China announced renewed trade negotiations set to take place in Switzerland. Markets interpreted this as a sign of geopolitical easing, pushing risk-on assets like BTC higher. Investors are hopeful that a breakthrough deal could restore global market confidence—benefitting Bitcoin as a hedge and alternative store of value.
🔹 UK Trade Agreement Rumours
Speculation is also swirling around a possible high-profile trade agreement between the United States and the United Kingdom. Though unconfirmed, even the whispers of such a deal have added fuel to Bitcoin’s upward momentum, reinforcing its role as a global macro asset responsive to economic shifts.
Arizona Bill and State-Level Adoption Boost Investor Sentiment
The state of Arizona has introduced legislation allowing the creation of a crypto reserve fund—joining New Hampshire, which already passed similar laws earlier this year. This move is a major signal to investors that U.S. state-level governments are warming up to crypto, potentially laying the groundwork for broader adoption across the public sector.
Institutional Interest Soars: ETFs and Whale Accumulation
Bitcoin ETFs are once again seeing massive inflows, with over $1.3 billion in net investments recorded this month alone. Major institutions and funds are re-entering the market ahead of a potential breakout. On-chain data also confirms an increase in whale accumulation, with BTC being pulled off exchanges and held in cold storage—typically a bullish signal.
BTC Price Prediction: New BTC ATH Incoming?
BTC’s current all-time high stands at $109K, recorded in January 2025. With today’s candle tapping $100,500 on some exchanges before a slight correction, bulls are clearly in control. Technical analysts are eyeing the psychological resistance of $100K, and if broken convincingly, BTC could enter price discovery with targets set at $110K–$120K in the near term.
By TradingView – BTCUSD_2025-05-08 (YTD)
BTC Price May 2025: Is $100K Just the Beginning?
Whether or not BTC officially breaks its all-time high today, one thing is certain—the sentiment has shifted dramatically. Bitcoin is once again the star of global finance, attracting institutional flows, mainstream media attention, and retail FOMO. As the perfect storm of macroeconomic drivers converges, BTC may not just be aiming for $100K—it could be preparing for much more.