Bitcoin Surges 6.41% to $100,000 on ETF Inflows, Bullish Indicators

Bitcoin has once again surged past the $100,000 mark, with a 6.41% increase in a single day. This rally has been driven by bullish technical indicators and significant inflows into Bitcoin ETFs, which have boosted investor confidence. The cryptocurrency has seen a 6.9% rise over the past week and a 0.3% gain in the last 24 hours, highlighting its strong momentum in the market.

This bullish trend has been further fueled by a bold prediction from Larry Fink, the CEO of BlackRock. Fink anticipates that Bitcoin could reach well above $500,000 within the next 5 to 10 years, labeling it a potential $10 trillion asset. This prediction underscores the growing institutional faith in cryptocurrencies and their expanding role in the global financial system.

The momentum behind Bitcoin is also supported by the activity in Bitcoin ETFs. The U.S. market currently hosts eleven Bitcoin Spot ETFs, with a combined assets under management (AUM) of $118.59 billion. The total market cap of these ETFs stands at $120.76 billion, with a daily trading volume of $2.66 billion. BlackRock’s iShares Bitcoin Trust (IBIT) is leading the market with an AUM of $62.65 billion, and in the first few days of this month alone, 21,303.28 BTC flowed into IBIT.

Fink’s outlook reflects BlackRock’s belief in Bitcoin’s potential to become a major player in the financial landscape. The recent price movements of Bitcoin have been volatile, with significant gains and losses over the past few months. On November 5, 2024, Bitcoin was trading at $69,374.85. By December 17, it had grown by 56.23%. From December 18 to February 23, 2025, the price mostly ranged between $106,132.47 and $92,455.22. On February 24, it dropped by 4.92% in a single day, falling below that range. Later, on April 7, BTC hit a low of $74,532.07. However, by April 9, strong buying pressure emerged, and since then, the price has jumped 35.38%, reaching $103,376.94.

In terms of monthly performance, Bitcoin has seen a +9.54% increase in January, a -17.5% decrease in February, a -2.19% decrease in March, a +14.2% increase in April, and a +9.57% increase in May so far. The Relative Strength Index (RSI) stands at 75.29, placing BTC in overbought territory. However, the market is currently above all three key moving averages: the 50-SMA at $88,534.40, the 100-SMA at $89,842.09, and the 200-SMA at $91,233.80. The MACD line is at 3,803.03, well above the signal line at 3,163.09, signaling bullish momentum. Though the On-Balance Volume (OBV) is at -492.54K, indicating some negative volume pressure, overall sentiment remains bullish.