Bitcoin Surges to $100,000, Hits a 3-Months High: Bulls Eye a new All time high

Key insights

• BTC rallies to reach $100k again hitting a 3 months high of $101,142.

• Bitcoin is recording significant demand warming for another ATH

Bitcoin Hits $100k

On daily charts, Bitcoin has rallied to hit a 3 months high of $101,142. The last time BTC surpassed $100k was February 3rd 2025.

At press time, Bitcoin was trading at $101,122 after a 4.15% on daily timeframes. At the same time, the crypto's options volume has rallied by 64.28% while options open interest has gained by 4%. Additionally, Bitcoin's trading volume has risen by 45%.

Bitcoin breaks through the 100,000 USD mark, showcasing a significant bullish trend on the daily chart.

This price surge signals growing demand , and confidence with Bitcoin across all market participants. With BTC breaking the psychological barrier of $100k, the crypto is now positioned for a rally towards a new ATH.

Is Bitcoin Set for a new ATH

Looking at at demand side, Bitcoin is seeing significant demand from spot market. On short timeframe, the crypto has recorded 4.73k BTC in buy volume with 3k BTC on sell side. This leaves a positive order imbalance in the market. Thus, there are more active buyers in the market than sellers reflecting strong demand and bullish sentiment.

Bitcoin Market Activity: A chart displaying the aggregated buy and sell volumes for Bitcoin from various exchanges, highlighting a significant spike in buying activity on 8 May.

Across all exchanges, Bitcoin has recorded more than $106 million in buy volume on daily timeframes. Rising buy volume reflects considerable bullish sentiment with buyers being dominant players in the market.

In conclusion, with BTC seeing significant demand while market players are bullish, Bitcoin could make more gains. The continuation of the current trend will see BTC rally to $106k. After this level, it will attempt to make another ATH around $110k.