Bitcoin sell-off to $93.5K is a brief hiccup — Data still supports new BTC highs in 2025
Bitcoin's price has decreased by 4.3% in three days, following a near peak of $97,900 on May 2, despite maintaining resilience at $94,000 on May 5. Bitcoin's market dominance has risen to 70%, the highest since January 2021, amid new token launches, making altcoins less attractive. Spot Bitcoin ETFs saw $4.5 billion in net inflows from April 22 to May 2, indicating strong institutional interest. Open interest in Bitcoin futures has increased by 21% since March 5, reaching 669,090 BTC, with CME futures exceeding $13.5 billion. Factors hindering Bitcoin's rise above $100,000 include trader frustration over the US Strategic Bitcoin Reserve bill and failed state-level Bitcoin legislation. Despite a recent decline, Strategy announced the acquisition of 1,895 BTC and plans for further purchases. For Bitcoin to achieve a new all-time high, improved US-China trade relations are necessary, although key elements for a bull run above $100,000 are present.
