Bitcoin has made a remarkable comeback, crossing the $100,000 threshold for the first time since January 2025. On May 8, 2025, the cryptocurrency jumped by 4.2% from an intraday low of $95,967. This bullish movement is attributed to several macroeconomic factors, notably a significant trade agreement between the U.S. and the U.K., announced by President Donald Trump, and the recent approval of a strategic crypto reserve law in Arizona.

Arizona formally enacted House Bill 2749 on May 8, 2025, which commits the state to building a Bitcoin reserve, with Texas likely following suit.

“Man isn’t winning sweet—-so many nay-sayers, just days ago, whining… " — Gary Cardone (@GaryCardone) May 8, 2025

In addition to these developments, the Federal Reserve has chosen to maintain current interest rates, providing additional support for Bitcoin’s momentum. Although no rate cuts were made, analysts anticipate reductions in June 2025. President Trump has urged Jerome Powell and the FOMC to consider lowering rates, in light of easing inflation and the diminishing necessity for high borrowing costs.

Bitcoin previously exceeded $100,000 in December 2024, reaching a peak of $109,000, before a series of regulatory and geopolitical events, including Trump’s tariffs and a global trade conflict, impacted its price.

As optimism grows concerning ongoing efforts toward U.S. and global cryptocurrency regulations and initiatives for Bitcoin reserves, the market anticipates even greater heights in the coming months. Is the next target $110,000 for Bitcoin?

“’$BTC will NEVER hit $100K again’ — some guy in 2022. Meanwhile in 2025:🤑” — Endless (@EndlessProtocol) May 8, 2025

While Bitcoin enjoys renewed prominence, the altcoin market finds itself lagging behind.