Bitcoin’s bullish momentum continues. On May 8, BTC surged 6.41% in a single day, once again climbing above the crucial $100K mark. In the last seven days, Bitcoin has risen by 6.9%, and in the past 24 hours alone, it gained at least 0.3%.
The recent rally has sparked renewed excitement in the crypto space, especially after a bold prediction from BlackRock CEO Larry Fink, who believes Bitcoin could trade well above $500,000 within the next 5 to 10 years.
Larry Fink’s Bitcoin Price Prediction
BlackRock’s CEO Larry Fink predicts Bitcoin could surpass $500K within 5–10 years. He also labeled Bitcoin a potential $10 trillion asset, reinforcing growing institutional faith in crypto.
The momentum is backed by ETF activity. The U.S. market now hosts eleven Bitcoin Spot ETFs, with a combined AUM of $118.59B. Their total market cap stands at $120.76B, with a daily volume of $2.66B.
BlackRock’s iShares Bitcoin Trust (IBIT) leads the market with an AUM of $62.65B. In the first few days of this month alone, 21,303.28 BTC flowed into IBIT.
Larry Fink’s bold outlook highlights BlackRock’s belief in Bitcoin’s expanding role in the global financial system.
Bitcoin Price Analysis
On November 5, 2024, Bitcoin traded at $69,374.85. Between then and December 17, BTC grew by 56.23%. From December 18 to February 23, 2025, it mostly ranged between $106,132.47 and $92,455.22. On February 24, it dropped by 4.92% in a single day, falling below that range. Later, on April 7, BTC hit a low of $74,532.07.
However, by April 9, strong buying pressure emerged. Since then, the price has jumped 35.38%, reaching $103,376.94.
In terms of monthly performance:
- January: +9.54%
- February: -17.5%
- March: -2.19%
- April: +14.2%
- May (so far): +9.57%
The Relative Strength Index (RSI) stands at 75.29, placing BTC in overbought territory. However, the market is currently above all three key moving averages:
- 50-SMA: $88,534.40
- 100-SMA: $89,842.09
- 200-SMA: $91,233.80
The MACD line is at 3,803.03, well above the signal line at 3,163.09, signaling bullish momentum. Though the On-Balance Volume (OBV) is at -492.54K, indicating some negative volume pressure, overall sentiment remains bullish.
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FAQs
BlackRock CEO Larry Fink predicts Bitcoin could exceed $500,000 in 5–10 years due to rising institutional adoption.
The U.S. hosts 11 Bitcoin Spot ETFs, holding over $118 billion in assets under management (AUM).
Yes, with an RSI above 75, Bitcoin is in overbought territory, signaling strong momentum but possible short-term pullback risk.
