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Bitcoin Falls Below $97,000 Despite The Euphoria: Should We Be Worried?
By: cryptosheadlines|2025/05/04 20:30:01
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com 13h35 4 min read by Fenelon L. Bitcoin reached a new impressive high of $97,800 yesterday, easily surpassing the symbolic $97,000 mark, before experiencing consolidation today, Saturday, at $96,345. This performance remains its highest level since February 2025, in a context of global economic uncertainty. In BriefBitcoin crossed the symbolic $97,000 mark on May 2, 2025, with a high of $97,237.Transaction volume jumped 7.45% in 24 hours to reach $31.2 billion.Bitcoin’s dominance over the crypto market stands at 64.72%, its highest level in four years.An Impressive Rise Despite Mixed Economic DataAfter reaching $97,800 on Friday, marking a spectacular advance despite worrying economic signals, bitcoin consolidates today around $96,345.US unemployment figures show an increase in claims with 18,000 new registrants, bringing the total to 241,000 for the last week of April.Financial markets have however ignored this news, considering that this increase is simply due to school holidays in New York State and not a real economic deterioration.While bitcoin rises, gold loses ground with a decline of 2.17%, settling at $3,216 an ounce.Geoffrey Kendrick of Standard Chartered Bank states that “bitcoin constitutes a better hedge than gold” to protect against global economic risks. This view reinforces the idea that bitcoin is gradually becoming a safe haven during times of uncertainty.Professional traders’ activity confirms this positive trend. Interest in bitcoin futures has increased by almost 9% to reach $68 billion.Moreover, it is mainly the bearish bettors who lost money (over $860,000), showing that the market now leans towards buyers.Institutionals Increasingly PresentInstitutional adoption of bitcoin is undergoing unprecedented acceleration. Bitcoin ETFs have attracted more than $3 billion in investments in one week, a first since March 2025.BlackRock continues to dominate this market after a record investment of $970 million in its Bitcoin ETF, recently crowned “Best New ETF“ by etf.com.Several companies have also increased their bitcoin exposure. Strategy (formerly MicroStrategy) now holds 553,555 BTC and plans to acquire up to 860,000, while Metaplanet in Japan has already accumulated over 5,000 BTC and aims for 10,000 by the end of 2025.More surprisingly, The Blockchain Group, a European company, has revealed its ambition to accumulate 260,000 bitcoins by 2033, representing about 1% of the total supply.This wave of adoption takes place in a context where bitcoin’s dominance of the crypto market exceeds 64%, its highest level in four years.This situation puts altcoins in difficulty, with Ethereum accounting for only 7.4% of the market, its lowest level since January 2020, while Solana and BNB struggle to compete despite their technological advantages.Despite the current pause, Bitcoin remains close to $100,000. Many experts now target $108,000 as the next goal. Even more optimistic, ARK Invest estimates that bitcoin could reach $2.4 million by 2030 in the best-case scenario.Maximize your Cointribune experience with our “Read to Earn” program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.Fenelon L.Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.DISCLAIMERThe views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. 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