According to Michaël van de Poppe (@CryptoMichNL), Bitcoin is maintaining higher timeframe support levels, indicating a strong continuation of its bullish price pattern. This technical support increases the probability of Bitcoin reaching the $100,000 milestone much sooner than previously anticipated, possibly within 1-2 days, as opposed to weeks. Traders are advised to watch these support zones closely, as sustained holding could trigger significant buy-side momentum and attract further institutional and retail inflows. This development aligns with ongoing bullish sentiment in the cryptocurrency market and could influence altcoin movements as well (Source: Twitter/@CryptoMichNL, May 8, 2025).

According to Farside Investors, the Grayscale Bitcoin Trust (GBTC) recorded a $16.4 million net outflow in daily trading flows on May 5, 2025. This sustained outflow trend signals ongoing reduced investor interest or profit-taking, which could exert short-term downward pressure on GBTC’s share price and potentially affect broader Bitcoin ETF sentiment. Traders should closely monitor outflow trends, as continued withdrawals may indicate bearish momentum in institutional Bitcoin exposure. Source: Farside Investors.