After months of correction, Bitcoin has broken through the $100,000 level again. Unlike previous rallies, the price increase was accompanied by an increase in Bitcoin’s market dominance, which supports the positive outlook for the BTC price.
Bitcoin finally broke through the psychological $100,000 mark again on May 8, which many investors believe could mark the beginning of a new bull market. Although BTC started the day at $97,000 and bounced off the $100,000 level several times, it ended the day at $103,000, up more than 6%. Traders’ enthusiasm was further supported by the fact that Bitcoin dominance rose above 63%, which has not been seen since 2021.