Bitcoin Blasts Past $100K! Is $109,000 the Next Stop for BTC?

Updated

May 9, 2025

Gambar Bitcoin Blasts Past $100K! Is $109,000 the Next Stop for BTC?

Jakarta, Pintu News – Bitcoin has surged past the $100,000 mark on major exchanges for the first time since February, before easing off slightly as traders locked in their gains.

The rally gained momentum amid steady interest rates from the Federal Reserve and encouraging news from President Trump regarding progress on trade agreements with several countries.

Bitcoin price rises 3.38% in 24 hours

On May 9, 2025, Bitcoin was trading at $102,667, equivalent to IDR 1,689,362,393 — marking a 3.38% increase over the past 24 hours. Within that time frame, BTC fluctuated between a low of IDR 1,627,599,076 and a high of IDR 1,707,671,567.

According to CoinMarketCap, Bitcoin’s market capitalization now stands at around $2.03 trillion, with trading volume in the last 24 hours also up 51% to $67.08 billion.

Donald Trump Signs Trade Deal with UK

On May 8, Donald Trump announced the first trade deal since his administration imposed massive tariffs last month.

The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come. Because of our long time history and allegiance together, it is a great honor to have the United…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) May 8, 2025

The US President stated that his administration has reached an agreement with the UK, and several other deals are currently in the final stages of negotiation.

According to a Reuters report, this agreement will cut tariffs between the US and the UK on steel and automotive products, which is expected to ease supply chain inflation concerns – concerns that have been weighing on risk assets since the tariff turmoil began.

The risk-on sentiment also spilled over into the crypto market, with over $492 million worth of short positions liquidated across various derivatives platforms in the last 24 hours, according to data from CoinGlass.

Currently, traders are monitoring the $105,000 level as the next resistance. If the Trump deal goes off without a hitch, the bullish side believes that the road to $120,000 could open up quickly.

Bitcoin Address Loses $1.6 Million

Meanwhile, according to a Lookonchain report on May 8, 2025, an anonymous Bitcoin address closed two short positions and incurred a loss of $1.6 million due to the price increase.

After $BTC jumped, this whale closed his $BTC short positions—taking a loss of over $1.6M.https://t.co/kE6VEWKMRA https://t.co/HCJufZTupr pic.twitter.com/qjpY8rvaRu
— Lookonchain (@lookonchain) May 8, 2025

Data from CoinGlass also revealed that the largest single liquidation in the last 24 hours (8/5), worth $10.6 million, came from BTC short positions. Historically, the liquidation of short positions often triggers an optimistic sentiment among traders, which pushes the price up further.

Bullish Scenario for Bitcoin (BTC)

The beginning of Bitcoin’s price surge came after the US Federal Reserve announced that interest rates would remain in the range of 4.25% to 4.50%, as reported by CNBC. The leading digital asset had experienced high volatility ahead of the FOMC meeting on May 7.

The decision triggered positive sentiment in the financial markets. The S&P 500 Index rose by 0.43%, while the CBOE Volatility Index (VIX) fell by 7.71%.

As the price of Bitcoin rose, a whale who was previously inactive for four months bought 100 BTC worth $9.78 million.

A whale bought 100 $BTC($9.78M) after the $BTC price rose.

This whale sold 100 $BTC at $101,874 4 months ago, and after 4 months of inactivity, he started buying back $BTC at a lower price.https://t.co/XSuQ18gxT5 pic.twitter.com/Vg4jfuGOg3
— Lookonchain (@lookonchain) May 8, 2025

Such accumulation by whales is expected to push Bitcoin prices higher, as analysts do not see any potential sell-offs in the near future.

Positive fund inflows from US-based spot Bitcoin ETFs have also reinforced the optimistic sentiment towards BTC. Based on data from SoSoValue, net inflows totaled $142 million for this investment product.

Analysts from Bitfinex, one of the leading crypto exchanges, predict that Bitcoin has the potential to break its record high of $109,000 if the support level of $95,000 is maintained.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Get a web trading experience with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference: