Bitcoin Crosses $100,000 for the 7th Time: Can Ethereum Keep Up?
On May 8, the crypto market witnessed a spectacular surge as Bitcoin (BTC) crossed the $100,000 mark for the seventh time, setting a new high at $102,000. This isn't just a key technical milestone — it's a signal marking the powerful return of institutional capital, investor sentiment, and altcoin momentum. Ethereum Back in the Race Notably, Ethereum (ETH) — the world's second-largest cryptocurrency — also surged strongly with gains of over 20% in 24 hours, breaking through the
On May 8, the crypto market witnessed a spectacular surge as Bitcoin (BTC) crossed the $100,000 mark for the seventh time, setting a new high at $102,000. This isn't just a key technical milestone — it's a signal marking the powerful return of institutional capital, investor sentiment, and altcoin momentum.
Ethereum Back in the Race
Notably, Ethereum (ETH) — the world's second-largest cryptocurrency — also surged strongly with gains of over 20% in 24 hours, breaking through $2,200 and pushing the ETH/BTC ratio above 0.02, up more than 14% from its recent low. Ethereum's price momentum isn't just driven by capital flows — it's also fueled by spot ETFs attracting fresh inflows, along with the recently deployed Pectra upgrade, which brought significant technical improvements to the Ethereum network.
Altcoins on Fire as the Market Roars Back
ETH's breakout ignited the broader altcoin market. A wave of tokens posted massive gains, including EUGEN (+40%), ETHFI (+28%), OP & ARB (+15%), SUI & BERA (+19%), ENA (+28%), and LQTY (+39%) — signaling that an "altseason" may be right around the corner.
Institutional Money Is Back
Data from spot ETF funds shows that since mid-April, Bitcoin ETFs have consistently recorded positive net inflows, with some days seeing inflows exceeding $900 million, bringing cumulative total inflows to $40.7 billion.
Listed corporations are also getting in on the action. Strategy Inc. purchased over 8,400 BTC in recent weeks and announced a "42/42" plan to deploy $84 billion into Bitcoin over two years. Metaplanet (Japan) now holds over 700 BTC and has set a target of 10,000 BTC by year-end.
Other companies including Jetking (India), Thumzup (USA), and Semler Scientific are also actively accumulating BTC.
On-Chain Data: Positive Signals
According to Glassnode, both long-term holders (LTH) and short-term holders (STH) are ramping up BTC accumulation. Since the start of March, more than 3 million BTC have flipped from an unrealized loss to an unrealized gain — reflecting strong bullish conviction across the market.
Liquidity and Macro Tailwinds
Stablecoin market cap continues to climb, now at $242 billion, with USDT up 3.75% and USDC up 1.18% over the past month — indicating that fresh capital is still flowing steadily into crypto.
Investors are also pricing in a Federal Reserve rate cut as early as June or July (75% probability). U.S.–China trade tensions also appear to be cooling, with both sides planning face-to-face negotiations in Switzerland this week.
Outlook: Is Altseason Knocking?
Former Goldman Sachs executive Raoul Pal believes BTC Dominance has peaked, opening the door to an altcoin growth cycle. Meanwhile, Arthur Hayes (co-founder of BitMEX) goes even further, predicting BTC could hit $150,000 as early as May.
As Chris Burniske — partner at Placeholder — put it: "When the blockchain economy grows, it has the fastest economic feedback loop of any trillion-dollar system in existence."
Bottom line: This rally isn't just a technical signal — it's the convergence of institutional capital, positive on-chain data, technological upgrades, and supportive macro conditions. Crypto isn't just back — it's entering a new era of growth.