Bitcoin is firing up and charging toward $100K like it’s a rocket headed for the moon. With its price surging to $99,818, the world’s largest cryptocurrency has just one target left: the six-figure milestone. According to CryptoQuant’s Carmelo Alemán, this surge isn’t just short-term hype—it’s part of a larger, ongoing shift. “Bitcoin has experienced a steady flow of capital inflows in recent weeks, reflecting renewed interest from investors.” Investors aren’t just testing the waters anymore; they’re diving in headfirst.
Bitcoin’s Realized Cap Soars to New Heights
Bitcoin’s realized cap—essentially, the value of Bitcoin based on the last time it moved—has been breaking records. Sitting at a staggering $891 billion as of May 7, this all-time high signals a long-term trend of confidence in Bitcoin. With more capital flowing in, it’s clear that the market sees Bitcoin as more than just a speculative asset. “This new all-time high in Realized Cap not only reflects a surge in invested capital but also a growing conviction in Bitcoin’s long-term potential,” Alemán adds. It’s not just hype; it’s trust in Bitcoin’s staying power.
Global Events Fuel the Bitcoin Blaze
What’s pushing Bitcoin into the stratosphere? It’s not just the crypto space. On May 8, President Trump sealed a major trade deal with the U.K., reigniting global risk appetite. According to XS.com analyst Rania Gule, “The statement reignited global risk appetite.” This clarity in the global economic environment is the fuel Bitcoin needed to continue its upward climb. As risk assets rise, Bitcoin finds itself in the fast lane.
Bitcoin’s New Bull Cycle Could Be Here
The data speaks for itself: Bitcoin is getting ready for a bull cycle. With sustained accumulation from both long-term holders (LTHs) and short-term holders (STHs), the market is preparing for a price breakout. Glassnode notes, “This points to a wave of demand which is absorbing the incoming supply.” If this trend continues, Bitcoin may not only hit $100K—it could surge well past it, kicking off a new bull run that could carry us far beyond the current price levels.
At the time of writing, Bitcoin is sitting at $99,276.
