Bitcoin Defies Weak Jobs Report, Nails $97K—$100K Beckons?
BTC just moonwalked past another economic red flag—because when has bad news ever stopped crypto? The king coin punched through $97K despite dismal job numbers, leaving Wall Street’s ’fundamentals’ crew scrambling for explanations.
What’s fueling the rally? Institutional FOMO, ETF inflows, or just good old-fashioned greed? The charts scream bullish: every dip gets bought faster than a memecoin rug pull.
Now the real question: does $100K break before traditional finance admits their inflation hedges are weaker than a JPEG-backed NFT? Place your bets—the casino stays open 24/7.
BTC Price Retests $97.5K Today, Is $100K Next?
As of today, the dominance of Bitcoin stands at 63.8%, a jump of 1.75% over the past 24 hours. With this, the dominance has crossed the 63% mark for the first time since 25th January 2021. This highlights a significant increase in the buying-over-selling pressure for it in the market.
On the other hand, the dominance of Ethereum has dropped to 7.4% with an intraday change of 0.88%. Moreover, “Others” market dominance stands at 28.9%, a change of 0.88% during the same period.
When it comes to the ETF market, the Bitcoin ETF has kickstarted May 2025 positively. Notably, it has experienced a net flow of +422.45 million. This highlights an optimist outlook for the BTC price in the market.
With a 24-hour trading volume of $28.5 billion, the BTC crypto is currently exchanging hands at $97,140. Moreover, with a market capitalization of $1.94 trillion, this project is on the path of unlocking another milestone if the bullish sentiment sustains.
The Relative Strength Index (RSI) continues hovering around the overbought range in the daily time frame. On the other hand, its average trendline constantly supports the price action. This suggests a positive outlook for the largest crypto token in the market.
Furthermore, the SMA indicator displayed a similar price action by acting as a strong support to the BTC price chart. Considering the technical sentiments, the price of Bitcoin may undergo significant positive action over the upcoming weekend.
How High Will Bitcoin Price Go This Year?
If the market continues to favour the bulls, the BTC coin price could retest its milestone price of $100,000. Maintaining its bullish action could push the price of this token toward its upper resistance level of $103,000.
Conversely, a bearish reversal could pull the value toward its $95,000 mark. If the liquidation in the market intensifies at that point, the Bitcoin price could further plunge toward its lower support of $91,500.
Also Read: Bitcoin Recovers From Trump Tariff Shock, Nears $100K
