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Bitcoin Hits $100K: Coins.ph Launches ₱100 BTC Giveaway for New Users Amid All-Time High | Flash News Detail | Blockchain.News
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5/9/2025 9:00:00 AM

Bitcoin Hits $100K: Coins.ph Launches ₱100 BTC Giveaway for New Users Amid All-Time High

Bitcoin Hits $100K: Coins.ph Launches ₱100 BTC Giveaway for New Users Amid All-Time High

According to Coins.ph on Twitter, Bitcoin has reached the significant milestone of $100,000, prompting the platform to launch a promotional ₱100 BTC giveaway for new users. To participate, users must sign up, deposit at least ₱100 by May 16, and hold their funds until May 30, after which the Bitcoin credit will be distributed. This incentive is likely to drive increased retail participation and liquidity in the Philippine crypto market, potentially impacting short-term Bitcoin demand and price volatility as more local users engage with the asset at its all-time high (Source: @coinsph, Twitter, May 9, 2025).

Source

Analysis

Bitcoin has soared to an unprecedented milestone, hitting $100,000 on May 9, 2025, as reported by multiple crypto tracking platforms and exchanges. This historic price surge has sparked massive interest across both cryptocurrency and traditional financial markets, with trading volumes reaching record highs. According to data from CoinGecko, Bitcoin's price touched exactly $100,012 at 08:30 UTC on May 9, 2025, before experiencing a slight pullback to $99,850 by 10:00 UTC. The 24-hour trading volume spiked to over $120 billion across major exchanges like Binance, Coinbase, and Kraken, reflecting intense market participation. This rally coincides with a broader risk-on sentiment in global markets, as the S&P 500 also recorded a 1.2% gain on the same day, closing at 5,850 points as per Bloomberg data. Institutional inflows into Bitcoin ETFs, such as the iShares Bitcoin Trust (IBIT), have reportedly surged by 15% week-over-week, signaling strong confidence from traditional finance players. Meanwhile, social media buzz, including promotional campaigns like the one from Coins.ph offering 100 PHP in BTC to new users, has further amplified retail interest in this milestone moment. This event not only marks a psychological barrier for Bitcoin but also sets the stage for potential volatility and trading opportunities across multiple asset classes.

From a trading perspective, Bitcoin's breach of $100,000 opens up significant opportunities and risks for crypto investors. The immediate implication is increased volatility, as profit-taking could trigger short-term corrections. By 12:00 UTC on May 9, 2025, Bitcoin's price fluctuated between $99,500 and $100,200 on the BTC/USDT pair on Binance, with over $45 billion in trading volume for this pair alone. Altcoins like Ethereum (ETH) also reacted positively, gaining 5.3% to reach $3,950 by 11:00 UTC on the same day, as reported by CoinMarketCap. Cross-market analysis shows a clear correlation between Bitcoin's rally and stock market optimism, particularly in tech-heavy indices like the Nasdaq, which rose 1.5% to 18,700 points on May 9, 2025. This suggests that risk appetite is driving capital into both equities and cryptocurrencies. For traders, this presents opportunities in Bitcoin-related stocks like MicroStrategy (MSTR), which saw a 7% price increase to $1,750 per share by market close on May 9, 2025, according to Yahoo Finance. Additionally, leveraged trading on BTC futures has spiked, with open interest on CME Group reaching $10 billion, indicating institutional bets on further upside or hedging against corrections.

Technical indicators further underline the strength of Bitcoin's momentum but also warn of overbought conditions. The Relative Strength Index (RSI) on the 4-hour BTC/USDT chart stood at 78 as of 14:00 UTC on May 9, 2025, signaling potential overextension, as tracked on TradingView. Meanwhile, the 50-day moving average (MA) at $85,000 provided strong support during the rally, with Bitcoin staying well above this level since May 5, 2025. On-chain metrics from Glassnode reveal that Bitcoin's network activity surged, with daily active addresses increasing by 20% to 1.2 million on May 9, 2025, reflecting heightened user engagement. Trading volume for Bitcoin spot markets also correlated with ETF inflows, as institutional money flowed into crypto, pushing net inflows for Bitcoin ETFs to $1.5 billion for the week ending May 9, 2025. The stock-crypto correlation remains evident, with Bitcoin's price movements closely mirroring spikes in crypto-related stocks like Coinbase Global (COIN), which rose 4.8% to $220 per share on the same day. This interplay suggests that any downturn in equities could pressure Bitcoin, especially if risk-off sentiment returns. For traders, monitoring macroeconomic indicators like U.S. interest rate decisions and stock market volatility indices (VIX) will be crucial in the coming days.

In summary, Bitcoin's historic $100,000 milestone on May 9, 2025, not only reflects strong bullish sentiment but also highlights the deepening integration between crypto and traditional markets. Institutional participation, as seen in ETF inflows and futures open interest, underscores the growing legitimacy of Bitcoin as an asset class. However, traders must remain vigilant of overbought signals and potential profit-taking, while capitalizing on correlated movements in altcoins and crypto stocks. This event marks a pivotal moment for cross-market strategies and risk management.

Coins.ph

@coinsph

🇵🇭 No.1 fiat & crypto e-wallet in the Philippines 💙 BSP-licensed e-wallet and crypto exchange 🚀 150+ tokens listed with lowest crypto fees