Cryptocurrency soars past $95k, continuing its unyielding surge.
Cryptocurrency Skyrockets:Bitcoin smashed past $95,000 and is on a roll, with analysts predicting it could push back to the $100,000 mark. In the past 24 hours, the king of crypto soared as high as $95,444, surpassing its mid-February peak before dipping below $80,000 earlier this month. At the time of writing, Bitcoin is holding strong at $95,104, maintaining a market cap of $1.88 trillion, albeit with a 20% drop in daily trading volume to $22.6 billion.
Over the past week, Bitcoin has surged by 13.3%, and in the past month, it's up by 15.7%. The rise has been fueled by economic uncertainty that's weakening traditional assets like stocks and fiat currencies. As a result, investors are flocking to safe-haven assets such as gold and cryptocurrency. Gold recently hit a new all-time high at $3,390.
Institutional interest is another significant factor driving the current rally. US spot Bitcoin ETFs have seen a net inflow of $764 million over the past week, according to data from SoSoValue. Furthermore, a closer look at the supply-in-profit metric shows that over 85% of Bitcoin holders are now in profit, marking a 10% increase compared to its previous dip to 75%.
Toward $100,000?Previous analysis suggested that if Bitcoin manages to breach $98,000, it could pave the way for returning to its previous $100,000 level. However, a decline at this point might send Bitcoin sliding down to $85,000 - $87,000.
Bitcoin's current rally isn't directly linked to US-China trade dynamics, but there are indirect factors at play. Escalating trade tensions might drive demand for decentralized assets as hedge instruments. Meanwhile, RMB volatility or restrictions could indirectly boost crypto adoption in Asia, although the current rally appears to be US-driven via ETFs.
Industry Insights:Institutional demand reflects growing confidence in Bitcoin as a macro asset. Long-term holders have shifted back to accumulation mode after months of profit-taking, a historically reliable bullish indicator. The short-term holder realized price ($93K-$95K) now acts as support, creating a stable base for further gains.
Bitcoin thrives in conditions where leverage is low, retail sales exceed expectations, and the Fed signals caution on rate cuts. These factors aligned in Q2 2025, mirroring conditions before past 50-84% rallies.
Analysts project a $140K target by October 2025, with Standard Chartered forecasting $200K by the end of the year. These estimates assume sustained institutional inflows and favorable macroeconomic conditions like those observed in April-July 2025.
Critical upcoming events include the US May Retail Sales Data (June 17), US June Retail Sales Data (July 15), and the Jackson Hole Symposium (Aug 21), which could provide insights into the strength of consumer spending and Federal policy clarity.
- The surge in Bitcoin's value has led it to surpass $95,000, hinting at a potential return to its previous $100,000 mark.
- In the last 24 hours, Tron's counterpart, Bitcoin, soared as high as $95,444, surpassing its mid-February peak.
- Despite a recent dip below $80,000 earlier this month, Bitcoin is currently holding strong at $95,104.
- If Bitcoin manages to breach $98,000, analysts predict it could pave the way for returning to its previous $100,000 level.
- Gold, another safe-haven asset, recently hit a new all-time high at $3,390, possibly as a result of economic uncertainty and the shift of investors towards safe assets.
- The rise of Bitcoin has been fueled by institutional interest, with US spot Bitcoin ETFs showing a net inflow of $764 million over the past week.
- The short-term holder realized price is now acting as support for Bitcoin, creating a stable base for further crypto gains in the technology-driven finance realm.
