Bitcoin Price Prediction: Could It Pass $98,000?

Bitcoin Price Prediction: Could It Pass $98,000?

As we step into May 2025, Bitcoin once again captures the spotlight in the cryptocurrency world, trading just shy of the $98,000 mark. After a rollercoaster ride through the first quarter of the year, Bitcoin’s price action has reignited hopes of breaking through this critical resistance level and possibly pushing toward the elusive $100,000 barrier.

But what lies ahead for the world’s largest cryptocurrency? Could Bitcoin realistically surpass $98,000?

The Current Market Landscape

Bitcoin’s price has demonstrated remarkable resilience in 2025. After a sharp dip below $80,000 amid heightened U.S.-China tariff tensions and global market ripples, Bitcoin rebounded strongly, surging near $98,000. As of May 5, 2025, BTC is trading at $94,300, a 2% increase in 24 hours, despite persistent market stress linked to ongoing tariff policies and political realignment. Diplomatic developments have helped stabilize Bitcoin, which now sits between $94,000 and $98,000 as May begins.

Despite the recent recovery, Bitcoin has struggled to break through the $98,000 resistance, with increased profit-taking activity at this level. The Fear & Greed Index stands at 53, reflecting a neutral investor outlook, and technical indicators suggest the market is at a crossroads-either primed for a breakout or a swift reversal.

What Analysts Are Saying

Market analysts remain divided but mostly bullish on Bitcoin’s prospects in the short term. Several forecasts point to $98,000 as a pivotal price level that could either trigger a breakout or lead to a consolidation phase.

Arthur Hayes, the influential co-founder of BitMEX and current CIO of Maelstrom, has been especially vocal about Bitcoin’s prospects this year. Hayes envisions a volatile road ahead: in the near term, he warns that tightening global liquidity and rising U.S. Treasury yields could trigger a sharp correction, potentially sending Bitcoin down to the $70,000–$75,000 range before any sustained rally resumes. He attributes this possible dip to the Federal Reserve’s ongoing quantitative tightening and the resulting strain on risk assets, including cryptocurrencies.

However, Hayes’ outlook is ultimately bullish. He predicts that, should the Federal Reserve pivot back to quantitative easing in response to a financial crisis or recession, Bitcoin could rocket to $250,000 by the end of 2025. Hayes argues that aggressive money printing and liquidity injections would be a powerful catalyst, and he points to the Fed’s recent moves-such as reducing its Treasury runoff cap-as early signs that such a shift could be on the horizon. In his words, “Bitcoin will scream higher once this is formally announced.”

Other analysts are more cautious, though still optimistic. Jamie Coutts of Real Vision projects a more conservative target of $132,000 by the end of 2025, basing his forecast on global money supply growth rather than a dramatic policy pivot. Meanwhile, market strategists from Changelly and CoinDCX see $98,000 as a key resistance level; a break above could open the door to $100,000 and beyond, but both warn that overbought technical indicators and profit-taking could trigger short-term volatility.

Bitget notes that Bitcoin’s recent 2% daily gains reflect renewed strength, but warns of resistance near $98,000–$100,000, where profit-taking could intensify. UseTheBitcoin and other technical analysts point to an ascending triangle pattern forming on the charts, a classic bullish signal that often precedes a breakout to new highs.

The Role of Institutional and Corporate Buyers

One of the key drivers behind Bitcoin’s sustained rally has been growing institutional and corporate adoption. Over the past few years, large companies and investment funds have increasingly added Bitcoin to their balance sheets, lending credibility and liquidity to the market.

MicroStrategy remains a prominent Bitcoin holder, with over 550,000 BTC accumulated at an average price of around $68,000. Their continued buying signals strong confidence in Bitcoin’s long-term value. Tesla, despite some fluctuations in its Bitcoin stance, still holds a significant BTC position and has integrated Bitcoin payments in the past, influencing market sentiment positively. Block, Inc. (formerly Square) continues to support Bitcoin through its Cash App platform and direct BTC purchases, helping expand retail adoption. Other institutional players, including hedge funds and asset managers, have increased exposure to Bitcoin ETFs and futures, further fueling demand.

This institutional interest is a critical factor in Bitcoin’s ability to test and potentially break through resistance levels like $98,000, as it brings more capital and stability compared to retail-driven rallies.

Technical Outlook: Can Bitcoin Break Through $98,000?

From a technical perspective, Bitcoin’s price action around $98,000 is a classic battleground between bulls and bears. This level has proven difficult to surpass in recent weeks, with profit-taking causing short-term pullbacks. However, sustained volume and momentum could push BTC past this barrier.

Key support zones lie between $92,000 and $94,000, reinforced by moving averages and institutional buying interest. These zones provide a safety net in case of corrections. The Relative Strength Index (RSI) is nearing oversold territory (around 40-44, which suggests caution. Meanwhile, Bollinger Bands show moderate volatility, implying that a breakout could be imminent. Trading volume has been solid but slightly declining, which means that a surge in volume could be the catalyst for a breakout.

If Bitcoin manages to break above $98,000 with strong volume, analysts predict a potential rally toward $100,000 and beyond, possibly reaching $105,000 or even $115,000 in the near term.

Macro and Geopolitical Factors

Bitcoin’s price is not only shaped by charts and corporate moves but also by broader economic and geopolitical events. Earlier in 2025, escalating tariff tensions between the U.S. and China caused market jitters, dragging Bitcoin below $80,000. Recent diplomatic easing has helped stabilize prices. With inflation concerns persisting globally, Bitcoin is increasingly seen as a hedge against fiat currency devaluation, attracting investors seeking alternative stores of value. Regulatory clarity remains a double-edged sword. While positive regulations can boost confidence, fears of crackdowns or unfavorable policies can trigger volatility.

What Could Hold Bitcoin Back?

Despite the bullish outlook, Bitcoin faces several risks that could stall or reverse its climb. As Bitcoin nears $98,000, many traders and investors may lock in gains, causing temporary price dips. Technical indicators suggest Bitcoin is approaching overbought levels, which historically precede short-term corrections. Unexpected geopolitical events or regulatory announcements could quickly change investor sentiment. While institutional interest is strong, the crypto market remains relatively small compared to traditional markets, making it vulnerable to large sell-offs.

Short-Term and Long-Term Predictions

The consensus for May 2025 is that Bitcoin is likely to trade in a range between $94,000 and $99,500, with a potential breakout above $100,000 if bullish momentum continues. Some models predict a surge to $105,000 or even $110,000 by the end of the month, provided volume and sentiment remain strong. However, other forecasts, such as those from Wallet Investor and TradingBeasts, suggest a more conservative range, with BTC possibly consolidating just below $98,000 for an extended period.

Conclusion: Is Surpassing $98,000 Realistic?

Bitcoin’s current trajectory suggests that passing the $98,000 mark is within reach, provided the market maintains momentum and volume supports the move. The combination of strong institutional demand, positive technical signals, and easing geopolitical tensions creates a favorable environment for Bitcoin to challenge and possibly break through this key resistance.

Yet, as Arthur Hayes and other leading analysts emphasize, the journey is unlikely to be smooth. Short-term corrections, driven by macroeconomic headwinds and profit-taking, are still very much in play. If the global financial system faces renewed turbulence and central banks return to aggressive monetary easing, the stage could be set for Bitcoin to not only surpass $98,000, but to aim much higher by year’s end.

For now, Bitcoin stands at a crossroads-poised for a potential breakout but facing the usual hurdles that come with any major rally. The coming weeks will be crucial in determining whether Bitcoin can sustain its bullish run and rewrite its price history once again.

📍  This article is for informational purposes only and does not constitute financial advice.