Bitcoin (BTC), the world’s most valuable cryptocurrency, has smashed through a critical resistance level, reigniting optimism across the crypto market. As of early Friday, Bitcoin broke above the $96,000 threshold for the first time in weeks, building fresh momentum toward the long-anticipated $100,000 milestone.

According to CoinMarketCap data, BTC surged to a 24-hour high of $97,437.96, firmly breaking out of an eight-day consolidation phase. As of 12 AM on May 2, Bitcoin was trading at approximately $96,872.40 — a gain of 2% in the last 24 hours.

This bullish breakout marks a key technical victory for Bitcoin bulls, as the currency had been trapped in a range between $94,800 and $96,000. With the $96K ceiling now breached, technical analysts believe BTC could soon retest and possibly break the $100K level, a psychological and strategic benchmark for the broader market.

Over the last 24 hours, Bitcoin’s trading volume surged to $31.97 billion, indicating heightened investor interest. Its total market capitalisation now stands at a robust $1.92 trillion — reflecting Bitcoin’s dominant position in the digital asset ecosystem.

Market sentiment has shifted positively as investors regain confidence in crypto assets amid expectations of looser monetary policy, institutional adoption, and increasing demand for decentralized finance (DeFi) applications.

Traders are watching closely for a confirmed daily close above the $97,000 level, which could validate the breakout and invite more upside. Analysts suggest the next resistance levels lie at $98,500 and then the much-anticipated $100,000 mark. On the downside, $95,000 now acts as the immediate support.

Beyond technicals, macroeconomic developments — including a weaker U.S. dollar and rising inflation expectations — are also contributing to Bitcoin’s appeal as a hedge asset.

Experts say that institutional investors are returning to the space, and the upcoming halving cycle in 2026 may also be providing longer-term bullish momentum. Meanwhile, ETFs and increased retail participation continue to bolster liquidity and price action.

With momentum building and resistance zones falling, all eyes are now on whether Bitcoin can conquer the $100K mark — a feat that would mark a historic moment in the digital asset’s journey.