Bitcoin has crossed the $100,000 mark for the first time in over three months, igniting fresh market excitement. The milestone was reached on May 8 at 3:22 p.m. UTC, when BTC surged 4.2% from an intraday low of $95,967, according to CoinGecko.

Bitcoin Price Hits $100K as Dominance Climbs

Bitcoin climbed past the $100,000 level for the third time in its trading history. The first breakthrough occurred on December 5, 2024, followed by a second on January 20 ahead of U.S. President Donald Trump’s inauguration.

Data from CoinGecko showed BTC dominance rose above 60% during this latest rally. This differs from the last two times Bitcoin crossed $100,000, when its dominance was lower. In December, Bitcoin dominance stood at 52%, and in January, it increased slightly to 54%.

An increased Bitcoin dominance usually indicates a lack of altcoin investment interest. According to the trend, the traders are consolidating into BTC, expecting macro shifts or updates on policy.

BTC Strengthens Despite Global Tensions

Bitcoin’s rising price comes amid continued uncertainty in geopolitical regions. Yet, according to Petr Kozyakov, CEO of Mercuryo, Bitcoin remains largely unaffected. He noted the coin’s resilience against news events in Asia and the Middle East.

“Bitcoin has been showing strength for weeks now,” Kozyakov said. “It’s scarcely flinching against the sort of geopolitical events that may have impacted it in the past.”

He added that Bitcoin’s performance alongside gold in 2025 may strengthen its case as a long-term store of value. This statement supports growing views of Bitcoin as a hedge during economic shifts.

Trade Deal Speculation Adds Momentum

Market participants pointed to recent political developments as a possible short-term catalyst. On May 7, President Donald Trump posted on Truth Social, suggesting a major trade deal announcement. While not confirmed, media reports suggest the agreement may involve the United Kingdom.

Vincent Liu, CIO at Kronos Research, linked the BTC move to Trump’s remarks. “Bitcoin is hovering near $100,000, a key psychological level for traders,” he said. “The market responded after Trump hinted at a major trade deal.”

The post coincided with a jump in spot BTC ETF inflows. U.S.-listed Bitcoin ETFs saw $1.8 billion in inflows in the last trading week, signaling growing institutional interest.

Analysts Eye Key Levels and Economic Data

Although there is tremendous momentum, analysts caution that the rally may still be affected by the macroeconomic winds. Liu said U.S. budget and CPI data, due on May 12 and 13, will likely influence future BTC movement.

“Upcoming data will be key in determining if BTC can break and hold above this level,” he added.

Ben Caselin, Chief Marketing Officer at VALR, said there’s a high probability that Bitcoin may reach new highs soon. “Retail is only set to come in toward the latter part of the Bitcoin four-year cycle,” he noted.

Caselin said this cycle may peak in Q4 of 2025, which could drive BTC toward $110,000 or beyond. He also noted growing support from regulatory clarity and reserve initiatives.

The Crypto Fear & Greed Index now stands at 65, in the “Greed” zone, supporting the current bullish sentiment. Still, analysts urge caution until concrete policy updates confirm broader support for BTC’s trajectory.