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Market Update: Bitcoin above $93,000 — is $100,000 within reach?

The crypto market is still moving and showing an impressive rebound.

By Mike Hesp
• 2 min read
Market Update: Bitcoin above $93,000 — is $100,000 within reach?

The crypto market keeps moving and is showing an impressive rebound. All major cryptos are in the green on a daily basis. Bitcoin is up 6.25% on the day, while Ethereum climbs as much as 14.65% in 24 hours.

Trading at $93,600, Bitcoin is only $6,500 away from the coveted $100,000 threshold. For comparison: in the last 48 hours BTC has risen by $6,000. The magic milestone seems within reach. Prominent investors like Arthur Hayes also weigh in on X: he considers a $200,000 price target still realistic for this year.

What also stands out is the growing decoupling of the crypto market from equities. While the S&P 500 is up 2.5% in premarket trading, the US stock market lags after recent drops tied to new trade measures. Those losses are far from recovered.

Bitcoin, on the other hand, has fully recovered from the pullback since the so-called "Liberation Day" on April 2. This brings digital gold closer to its physical counterpart. While BTC hasn’t hit a new record yet, Tom Lee, CIO of Fundstrat, says it’s only a matter of time. In a CNBC interview he stated: “I expect Bitcoin to position itself alongside gold again after unwinding leveraged positions.”

Other analysts join in. Sina G from 21st Capital notes that the capital flight from US assets points to a broader trend: the rise of global, neutral store-of-value assets like Bitcoin and gold.

Crypto analyst Plan C View post on X on X says: “We’re on the cusp of the next phase of the bull market. A price of $150,000 in 2025 is virtually certain, $200,000 is very realistic, and $500,000 remains a dream for now. The 2025 top will likely be between $150,000 and $300,000.”

If Bitcoin can truly break away from traditional markets during crises, that would be strong evidence of its role as a ‘safe haven asset’. But to definitively confirm that status, BTC would also have to withstand any further escalation of the trade dispute without major damage.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.