$97k!!
As of May 2, 2025, Bitcoin (BTC) is trading at approximately $97,000, reflecting a 2.15% increase over the past 24 hours. The cryptocurrency’s market capitalization stands at around $1.93 trillion, with a circulating supply of 19.86 million BTC.
Key Market Drivers
- Institutional Investment: Strategy (formerly MicroStrategy) has expanded its Bitcoin holdings to 553,555 BTC, valued at over $52 billion. This acquisition was financed through stock offerings, indicating strong institutional confidence in Bitcoin’s long-term value.
- ETF Inflows: U.S.-listed spot Bitcoin ETFs have experienced significant net inflows, with $2.68 billion added in the past week, marking the largest weekly inflow since December.
- Regulatory Developments: Recent regulatory shifts in the U.S. have relaxed requirements for banks to engage in crypto activities, such as custody services and participation in blockchain networks. This has encouraged financial institutions like Morgan Stanley and SoFi to deepen their involvement in the cryptocurrency market.
Market Sentiment
The global crypto market capitalization has risen to $3.02 trillion, with the Crypto Fear & Greed Index at 55, indicating a neutral sentiment.
Price Forecasts
Analysts project a bullish outlook for Bitcoin, with price predictions for 2025 ranging between $120,000 and $210,000. Some models suggest that, if historical patterns hold, Bitcoin could potentially reach up to $350,000.