Bitcoin Surpasses $104K Amid Market Optimism
- Bitcoin crosses $104,000, indicating strong market momentum.
- Other cryptocurrencies show mixed performance.
- Global market cap reaches $3.31 trillion, up 1.60%.
Bitcoin breached the $104,000 price point on May 18, 2025, marking a significant milestone in the cryptocurrency market.
Rising to a current value of $103,969, Bitcoin’s price increase underscores its growing market strength despite past volatility.
Bitcoin’s price rose by 1.06% in the last 24 hours, trading between $102,640 and $104,088. The cryptocurrency market cap increased by 1.60%, supported by optimistic investor sentiment.
Other major cryptocurrencies recorded varied performance. Ethereum rose by 1.70% to $2,517.49, while Cardano dropped -0.84% to $0.7599. Dogecoin gained the most with a rise of 4.01%.
This uptrend positively influenced global cryptocurrency sentiment. The market cap for digital currencies stands at $3.31 trillion. This follows Bitcoin’s recent period of narrow price trading.
Journalist Michelle Makori highlighted macroeconomic factors affecting Bitcoin’s price, pointing to the recent U.S. credit rating downgrade as a potential driver for increased demand. She projects a strong correlation with rising gold prices.
“Watch Bitcoin and gold. America now shares a credit rating with Austria and Finland. Hard assets don’t lie. Watch Gold and Bitcoin,” noted Michelle Makori.
Bitcoin’s recovery is attributed to improving investor outlook following Q1 setbacks. Historical data shows a slump to $74,000 in April, marking a near 30% decline from January’s peak. The subsequent climb stresses resilience.
The cryptocurrency market may continue to evolve through technological advancements and regulatory changes. Historical rebounds, emerging fintech trends, and investor enthusiasm could sustain Bitcoin’s position as a digital asset leader.
