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⚈ Bitcoin is trading near $95,000 and needs a 5.46% gain to reach $100,000.
⚈ Analyst Michael van de Poppe says Bitcoin hasn’t yet topped gold’s all-time high.
⚈ Historical May returns suggest BTC could surpass $100,000 this month if trends hold.
Bitcoin (BTC) has seen a 6.57% rally over the past seven days. The flagship cryptocurrency is currently trading at $94,820, with year-to-date (YTD) returns standing at 1.41%, and faces resistance at $95,000. Should it surpass that level, Bitcoin could easily hit $100,000 in May.
The digital asset has stopped trading in tandem with the stock market, and instead appears to be mirroring the price action of gold. With money supply (M2) on the rise, Bitcoin, which, unlike traditional equities, has shown a resiliency to tariff risks, would have to rally by 5.46% from current prices in order to cross the $100,000 threshold.
Leading cryptocurrency analyst Michael van de Poppe recently noted how “Bitcoin’s value against Gold hasn’t even made an all-time high as of yet. That being said, the real bull on risk-on assets hasn’t really started. It’s approx. 30% away from the previous high in 2021. That’s a great perspective.”
With that being said, BTC’s median performance in May is 3.17%. Such a surge would not see Bitcoin hit $100,000 — instead, it would reach a price of $97,826. However, with steady capital inflows and investor sentiment improving on account of an ever-likelier detente in the tariff war, the odds that Bitcoin will hit $100,000 are higher than not.
Featured image from Shutterstock
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