Bitcoin (BTC) has reclaimed the $80,000 price level for the first time since late January 2026. According to CoinGecko data, BTC’s price has surged 2.7% in the last 24 hours, 1.4% in the last week, 7.8% in the 14-day charts, and 20% over the previous month. Let’s discuss why Bitcoin (BTC) is rallying today, and how the asset could reclaim the $100k mark.
Why Is The Asset Rallying?
Bitcoin’s (BTC) latest upswing could be due to increased ETF purchases. According to Farside Investors, BlackRock’s IBIT Bitcoin ETF purchased $284.4 million worth of BTC on May 2, 2026. Moreover, the world’s largest asset manager’s European ETP hit $1.1 billion in assets under management, holding around 4200 BTC. BlackRock’s buying spree may have led to a boost in investor sentiment.
Another reason that could be pushing Bitcoin’s (BTC) price is the potential passing of the Clarity Act later this month. More crypto regulatory clarity may lead to a surge in adoption, which could push prices further.
Bitcoin’s Road To $100k Explained
Bitcoin (BTC) last traded above the $100k mark in November of last year. The original crypto saw a massive price dip in early 2026, but has since made a slight recovery. Although BTC’s upswing is commendable, the asset is still far from reclaiming its peak. BTC hit an all-time high of $126,080 in October of 2026, but has since fallen by 36.4%.
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Bitcoin (BTC) faced substantial resistance at the $78,000-$79,000 price level. Reclaiming the $80,000 mark has greatly increased BTC’s chances of hitting $100k once again. If the asset continues its momentum, it could breach $100k sometime this month. Consistent ETF inflows could also aid BTC’s journey back to $100k.
However, there is a possibility that investors who bought Bitcoin (BTC) at the bottom may book profits. Such a scenario could lead to another price correction. Moreover, the US-Iran war could re-escalate, which could also lead to a market dip.