08-05-2025
Bitcoin Jumps Over 23% In A Month, Crosses $99,000: Why Are Cryptocurrencies Rising, Should You Buy?
A month ago, as of April 8, 2025, Bitcoin had stood at $79,475.31. Since then, the crypto has increased by 23.34 to hit $99,025 as of May 8, 2025.
Bitcoin on Thursday rose 2.59 per cent to $99,025 amid positive sentiment around the US-China trade talks and Donald Trump's announcement of a 'major trade deal' today. The world's biggest cryptocurrency has jumped by 23.34 per cent in a month. On Thursday, Ethereum also jumped 3.56 per cent, XPR rose 1.71 per cent, and Solana increased 3.27 per cent.
As of 10:29 am, the live price of Bitcoin stood at $99,025.59 with a current market cap of $1.97 trillion. Its 24-hour trading volume is $48.34 billion, according to Bitcoin is up 2.65 per cent in the last 24 hours with a circulating supply of 19.86 million.
A month ago, as of April 8, 2025, Bitcoin had stood at $79,475.31. Since then, the crypto has increased by 23.34 to hit $99,025 as of May 8, 2025.
Avinash Shekhar, co-Founder and CEO of Pi42, 'Bitcoin's sharp rebound and the resurgence in altcoins reflect the market's sensitivity to macroeconomic shifts, particularly positive sentiment around the US-China trade talks."
BTC's swift move back above $99,000 underscores strong investor confidence, while standout performers like LTC and HYPE suggest that traders are rotating capital into high-potential alts amid renewed bullish momentum, Shekhar said.
'As regulatory developments and global economic cues continue to unfold, we expect heightened volatility but with a bullish undertone in the near term," he added.
According to CoinSwitch Markets Desk, Bitcoin surged past the $99,000 mark for the first time in 75 days, posting a 2.56 per cent gain over the last 24 hours. The price remains well-supported, trading above its 50-day, 100-day, and 200-day moving averages.
'Institutional momentum continues to build, with US spot Bitcoin ETFs recording $105 million in net inflows yesterday. Tokyo-based Metaplanet also acquired 555 BTC as part of its ongoing accumulation strategy. Among altcoins, Sui gained 5.1 per cent, followed by ADA and SOL, which rose 3.1 per cent and 2.3 per cent, respectively," it added.
In traditional markets, US equities closed higher as traders digested signals from US-China trade discussions and the Fed's decision to maintain interest rates. The S&P 500 rose 0.4 per cent, Nasdaq added 0.3 per cent, and the Dow climbed 0.7 per cent, CoinSwitch Markets Desk said.
First Published:
May 08, 2025, 10:44 IST
