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While Bitcoin (BTC) is trading around 94,700 dollars after nearly reaching 97,900 dollars on May 2, the fundamentals remain extremely bullish. Far from a trend reversal, this pullback rather seems to herald an imminent surge towards the symbolic threshold of 100,000 dollars. Here is why.
In Brief
- Bitcoin consolidates at 93,500 dollars after peaking at 97,900 dollars, without invalidating the bullish trend.
- Experts anticipate a push towards 100,000 dollars, supported by on-chain activity and institutional flows.
Bitcoin aims for 100,000 dollars: the drop to 94,000 dollars is just a strategic pause
Bitcoin recently experienced a slight setback, falling 4.3% in three days after flirting with 97,900 dollars. However, this dip did not dampen analysts’ optimism, who believe these 3 indicators could propel BTC.
1. Market dominance at its highest since 2021
With almost 65% dominance in the cryptocurrency market, bitcoin has never been stronger since January 2021. This supremacy persists despite a proliferation of token launches—such as SUI, TON, PI, or TAO—and reinforces its status as a safe haven in the crypto world.
2. Bitcoin ETFs attract billions
Inflows to spot Bitcoin ETFs surpassed 4.5 billion dollars between April 22 and May 2. This massive institutional adoption reflects growing confidence in BTC over the medium and long term. At the same time, futures contract volumes are exploding, evidence of a market ready to bet on an imminent rise.
3. An increasingly strong institutional leverage
Open interest on Bitcoin futures has reached 669,090 BTC, up 21% since March 5. Even after BTC dropped below 75,000 dollars in early April, demand for leveraged positions remained stable. On the CME, interest now exceeds 13.5 billion dollars, a clear signal of institutional commitment.
What do the experts think?
Experts agree. Ryan Lee, chief analyst at Bitget Research, says bitcoin benefits from a resurgence in on-chain activity and growing demand. This dynamic fuels the prospect of a bullish breakout towards 100,000 dollars, provided that technical indicators continue to converge.
All indicators are therefore green for bitcoin: record dominance, massive ETF inflows, and strong institutional demand. These signals converge toward solid bullish momentum. If the trend continues, the psychological threshold of 100,000 dollars could soon be surpassed, marking a new key milestone for BTC.
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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
