After the $BTC price value touched on the $97.9k figure before returning to the $96K price mark at the time of writing, the world’s major digital currencies in terms of market capitalization have registered significant profits over the past 24 hours.
#bitcoin’s momentum rises to a high of 97.9k, with the price increasing to its highest in more than two months. Price rebounds provided great financial relief to market participants, with BTC above +3M returning to profit status.
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– GlassNode (@GlassNode) May 7, 2025
Bitcoin ($BTC) price registers 2 months’ height
The price value of Bitcoin ($BTC) has overshadowed the amount surrounding the $94,000 figure for most of the last two months, failing to break the $96,000 resistance in a few attempts. However, this time, $BTC was able to sneak up on this resistance level, helping the coin to surpass the $97K figure.
This is reportedly the highest price that King’s cryptocurrency has reached in the last two months. Market participants also receive some economic relief from a significant increase in Bitcoin’s price value. Furthermore, the capitalizations realized have skyrocketed to a new high of $889 billion.
Community sentiment is bullish
This massive surge in Bitcoin price values has led to a bullish shift in sentiment in the cryptocurrency community, according to GlassNode data. Traders and investors look forward to a long bull run over the next few days. They even believe that the largest digital currency can break the $100,000 level over a short period of time.
The price value of Bitcoin, currently trading at a positive change rate of 2.74%, stands around the 96.9k figure. Within just a few hours, it bounced back from its two-month high from $97.9k. However, due to current bullish momentum, it is expected to rise again soon.