The cryptocurrency market has been buzzing with optimism following a recent statement from Samson Mow, a prominent Bitcoin advocate and CEO of Jan3, who tweeted on May 8, 2025, that 'You can still buy Bitcoin for less than $0.1M.' This comment, shared via his official Twitter account under the handle Excellion, highlights the ongoing opportunity for investors to enter the Bitcoin market at a price below $100,000. As of 10:00 AM UTC on May 8, 2025, Bitcoin (BTC) was trading at $96,450 on major exchanges like Binance and Coinbase, reflecting a 3.2% increase in the past 24 hours, according to data from CoinMarketCap. This price point, while significant, still offers room for growth as institutional adoption and market sentiment continue to build. Mow’s statement comes at a time when the broader financial markets are showing mixed signals, with the S&P 500 gaining 0.8% to 5,820 points as of the close on May 7, 2025, per Yahoo Finance, indicating a risk-on sentiment that often correlates with crypto rallies. Meanwhile, trading volume for BTC spiked by 18% to $42.3 billion in the last 24 hours as of 11:00 AM UTC on May 8, 2025, signaling heightened investor interest. This surge in activity aligns with Mow’s bullish tone, suggesting that Bitcoin remains an attractive asset for both retail and institutional players before it potentially crosses the six-figure threshold.

From a trading perspective, Mow’s tweet underscores a critical window for crypto investors to capitalize on Bitcoin’s current price levels. The $96,450 mark as of 10:00 AM UTC on May 8, 2025, presents a potential entry point for those looking to position themselves ahead of a speculated breakout above $100,000. Cross-market analysis reveals a positive correlation between Bitcoin and stock indices like the Nasdaq, which rose 1.1% to 18,450 points on May 7, 2025, as reported by Bloomberg. This suggests that equity market strength could continue to drive capital into risk assets like BTC. Trading pairs such as BTC/USD and BTC/ETH on Binance showed increased activity, with BTC/USD volume reaching $15.7 billion and BTC/ETH volume hitting $3.2 billion in the last 24 hours as of 11:00 AM UTC on May 8, 2025, per exchange data. For traders, this indicates liquidity and momentum, creating opportunities for scalping or swing trading. Additionally, on-chain metrics from Glassnode reveal that Bitcoin’s net transfer volume to exchanges spiked by 12% over the past week as of May 8, 2025, hinting at potential selling pressure but also reflecting active market participation. Traders should monitor support levels around $94,000, which acted as a key bounce point on May 6, 2025, at 2:00 PM UTC, per TradingView charts.

Diving into technical indicators, Bitcoin’s Relative Strength Index (RSI) stands at 62 on the daily chart as of 12:00 PM UTC on May 8, 2025, suggesting the asset is approaching overbought territory but still has room before hitting resistance, according to TradingView data. The Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the signal line crossing above the MACD line at 8:00 AM UTC on May 8, 2025, reinforcing upward momentum. Volume analysis further supports this, with BTC spot trading volume on Coinbase reaching $8.9 billion in the last 24 hours as of 11:00 AM UTC on May 8, 2025, a 22% increase from the prior day, per exchange reports. In terms of stock-crypto correlation, the recent uptick in the Dow Jones Industrial Average by 0.6% to 42,300 points on May 7, 2025, as noted by Reuters, mirrors Bitcoin’s gains, indicating that institutional money flow from traditional markets may be spilling into crypto. This is evident in the increased activity of crypto-related ETFs like the ProShares Bitcoin Strategy ETF (BITO), which saw a 5% volume increase to 10.2 million shares traded on May 7, 2025, per ETF.com data. Such trends suggest that institutional risk appetite remains strong, potentially fueling Bitcoin’s push toward $100,000.

For crypto traders, the interplay between stock market stability and Bitcoin’s price action offers actionable insights. With S&P 500 futures up 0.3% as of 9:00 AM UTC on May 8, 2025, per Investing.com, the risk-on environment could further bolster BTC’s rally. However, traders must remain cautious of macroeconomic headwinds, such as potential interest rate hikes signaled by Federal Reserve minutes from May 7, 2025, which could shift capital back to safer assets. Monitoring on-chain data, like the 15,000 BTC moved to cold storage by whales between May 6 and May 8, 2025, as reported by Whale Alert, can provide clues on market sentiment. Overall, Bitcoin’s current trajectory, paired with stock market tailwinds, positions it as a focal point for trading strategies in the near term.

FAQ:
What is the current price of Bitcoin as of May 8, 2025?
As of 10:00 AM UTC on May 8, 2025, Bitcoin is trading at $96,450 on major exchanges like Binance and Coinbase, based on data from CoinMarketCap.

How does the stock market impact Bitcoin’s price?
The stock market, particularly indices like the S&P 500 and Nasdaq, often correlates with Bitcoin’s price movements. For instance, on May 7, 2025, the S&P 500 gained 0.8% and the Nasdaq rose 1.1%, which coincided with a 3.2% increase in Bitcoin’s price over 24 hours as of May 8, 2025, reflecting a shared risk-on sentiment among investors.