Bitcoin’s price has surged to $97,000 as the cryptocurrency market crosses $3 trillion, despite weak job data from the U.S. Bitcoin’s dominance now stands at 63.8%, with optimistic trends suggesting a potential future push toward the $100,000 mark. Technical indicators are supportive of further price increases in the near term, yet bearish corrections could also emerge.
The cryptocurrency market has hit a remarkable $3 trillion in total valuation, showing a solid uptick of 3.85% and reporting a trading volume close to $79.5 billion. Bitcoin has surged past the $97,000 milestone, and Ethereum has also made its mark, hovering around $1,875. Surprisingly, this price rally comes in the wake of disappointing job data from the U.S. that had initially hinted at heightened volatility in the crypto space.
Recent statistics from the U.S. Department of Labor indicated that 241,000 Americans filed for jobless benefits as of April 26, 2025. Despite these figures, the cryptocurrency market has appeared resilient, defying expectations and maintaining a bullish trend. Investors are now closely monitoring price movements for hints on whether Bitcoin might reach the coveted $100,000 mark. If you’re among those wondering about BTC’s trajectory, read on for potential predictions.
Currently, Bitcoin holds a 63.8% dominance within the market, showing a rise of 1.75% in just the last 24 hours. It’s notable that this percentage has crossed the 63% threshold for the first time since January 25, 2021, signalling growing buying pressure. Conversely, Ethereum’s market dominance has slipped to 7.4% with a minor dip of 0.88%, while the remainder of the market, categorized as “Others,” now stands at 28.9%.
Shifting gears to the ETF landscape, May 2025 has kicked off on a positive note for Bitcoin ETFs, with a substantial net inflow of $422.45 million. This infusion indicates a cautiously optimistic outlook for Bitcoin’s price moving forward. Currently, In the last 24 hours, Bitcoin has seen a trading volume of around $28.5 billion, with its price resting at $97,140 and a market capitalisation of $1.94 trillion. If this bullish sentiment endures, we might witness a fresh milestone for Bitcoin soon.
Technical indicators reflect positive outcomes as well. The Relative Strength Index (RSI) is hovering in the overbought territory on a daily chart, and the average trendline remains supportive of current price movements. Additionally, the Simple Moving Average (SMA) shows strength, acting as robust support for the price as well. Markedly, these technical sentiments suggest that Bitcoin could have a good chance of continuing its upward trend this weekend.
Looking ahead, if bullish momentum persists in the market, Bitcoin may indeed challenge that $100,000 level again. If it maintains this upward trajectory, we might even approach a resistance level near $103,000. On the flip side, if bears re-enter and push the market downwards, we may see Bitcoin dip towards a support line near $95,000. Should selling pressure amplify at that point, Bitcoin could further slide to levels around $91,500. The market remains dynamic, so investors should stay vigilant and informed.
