Bitcoin Price Surges to Highest Level Since January

Bitcoin, CO – On May 12, 2025, the price of Bitcoin (BTC) has surged back to heights not seen since January, reaching $104,000. This marks a 35% increase from its lowest point this year, highlighting an intriguing development in the cryptocurrency market.

Factors contributing to Bitcoin’s rise include a surge in demand reflected by ongoing inflows into spot Bitcoin exchange-traded funds (ETFs). In the last week alone, these funds have attracted $600 million, adding to a total of $41.16 billion in inflows since January of the previous year. This influx indicates strong institutional interest, with companies such as Strategy and MetaPlanet actively accumulating Bitcoin.

Meanwhile, supply constraints remain an issue, as the number of Bitcoins held in exchanges has reached a five-year low. This decline suggests that many holders are unwilling to sell, a trend that typically supports rising prices. Additionally, positive sentiment has arisen from recent trade talks between the US and China, with Treasury Secretary Scott Bessent stating that discussions are making substantial progress.

Technical analysis confirms these bullish sentiments; the BTC/USD pair has formed a ‘cup and handle’ pattern and recently crossed important resistance levels, indicating potential for continued upward movement. Analysts are anticipating a further test of resistance near $108,230, with projections suggesting that a breakthrough could lead Bitcoin toward the psychological barrier of $110,000.

Market strategist Crispus Nyaga emphasizes the importance of monitoring Bitcoin’s progress, stating that the pair has rebounded significantly from its April low of $74,492. If the upward trend continues, investors remain optimistic about Bitcoin’s prospects.