Bitcoin surged to $104,873 during weekend trading, fueled by renewed institutional interest and positive macroeconomic developments. The flagship cryptocurrency has gained 12% this week as traders digest shifting monetary policy signals and corporate treasury strategies.
Bitcoin Price Momentum Accelerates
The $105,000 resistance level remains a key psychological barrier, with BTC briefly touching $104,873 on May 10 before settling at $103,451. This marks Bitcoin’s highest price since March 2025, when it peaked at $107,200.
Key technical levels to watch:
- Immediate support: $100,000 (psychological level)
- Major resistance: $105,000 (2025 high)
- Projected target: $110,000 (Fibonacci extension)
Analysts at Solvery IG maintain their $105,000 price target for May, citing increased derivatives activity and spot market accumulation patterns. Their April 28 forecast appears increasingly plausible as BTC tests two-month highs.
Michael Saylor’s $21 Billion Bitcoin Bet
MicroStrategy’s rebranded parent company Strategy continues aggressive BTC accumulation, announcing plans to raise $21 billion through an at-the-market equity offering. The move follows their Q1 2025 accounting shift that recognized $12.7 billion in unrealized Bitcoin gains.
Strategy’s Bitcoin holdings now total 553,000 BTC worth approximately $57.3 billion at current prices. CEO Michael Saylor told CoinDesk this positions Bitcoin as ‘the ultimate corporate treasury asset’ during currency debasement cycles.
The company’s treasury strategy has inspired 70+ public firms to allocate portions of their balance sheets to Bitcoin. Recent SEC filings show 23 new corporate Bitcoin positions exceeding $100 million in Q1 2025.
ETF Inflows Signal Institutional Adoption
Bitcoin investment products recorded $1.04 billion in net inflows last week, with US spot ETFs capturing 78% of total volume. This surge comes despite SEC delays on altcoin ETF applications, reinforcing Bitcoin’s regulatory advantage.
| Fund | Weekly Inflows |
|---|---|
| BlackRock IBIT | $427 million |
| Fidelity FBTC | $298 million |
| Ark 21Shares ARKB | $153 million |
21Shares’ recent SUI ETF filing suggests issuers remain confident in crypto product demand. As noted in CoinDesk’s weekend market analysis, ETF flows now account for 22% of Bitcoin’s daily trading volume.
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Market Impact: Bitcoin’s rally reflects growing institutional confidence amid expanding monetary liquidity. With M2 money supply growth accelerating to 5.8% annualized and corporate treasuries diversifying into hard assets, analysts predict sustained demand could push BTC to $150,000 by Q4 2025. However, traders remain cautious of potential profit-taking near all-time highs.
