At the beginning of the month, the cryptocurrency market experienced a bullish trend as the market capitalization surged above $3 trillion. The volume, which had previously dropped significantly, has started to rise again, indicating increased bullish activity in the markets. Additionally, the price of Bitcoin has surpassed $97,000 and continues to exhibit strong momentum in its recovery. This shift in sentiment towards the bulls is likely to support a robust upward trend in the coming days.
Currently, Bitcoin is only 14% away from its all-time high of over $109,000, and the recent change in market sentiment has bolstered optimism in the markets. The trading volume for Bitcoin, which had fallen below $20 billion, has now climbed back above $30 billion, potentially increasing the token’s volatility. Bitcoin remains the dominant player in the market, attracting more than half of the trading volume as its dominance continues to rise. With the dominance reaching a 4-year high, a significant bull run is anticipated to kick off soon.
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The BTC dominance chart is showing signs of approaching previous highs above 70%, levels last seen during the 2018 and 2021 bull runs. This indicates that the current price of Bitcoin is likely in the midst of the 2025 bull run. As a result, Bitcoin is expected to maintain a healthy upward trend throughout May 2025 and potentially surpass $100K once again.
Bitcoin (BTC) Price Prediction for May 2025
In the short term, Bitcoin’s price may face some bearish pressure, potentially pushing it below $96,000. However, this could be a temporary correction as the overall long-term outlook remains highly bullish, with a target of reaching $110K by the end of the month.
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The weekly price action of Bitcoin indicates a strong bull run, with sentiment quickly turning positive after a bounce from support levels. The Chaikin Money Flow (CMF) dropping below 0 suggests a potential increase in bearish pressure, while the weekly Bull Market Support Band (BMSB) is on track for a bullish crossover, signaling the beginning of a bullish trend.
As a result, Bitcoin’s price is likely to surpass the $100K mark in the coming days and reach $105K by the end of the month.
