Bitcoin's recent surge has set the stage for an exciting May 2025 as it approaches the critical $100,000 mark after gaining over 14% in the last 30 days. This surge is backed by a positive shift in Bitcoin's apparent demand, marking the first positive trend since February. Despite this positive momentum, the influx of fresh capital, particularly from US-based ETFs, remains below the levels seen in 2024, indicating a lack of full institutional conviction.

According to Tracy Jin, MEXC COO, if the current trend continues, a potential summer rally pushing Bitcoin towards $150,000 is on the horizon, creating a bullish sentiment around the cryptocurrency.

Although Bitcoin's apparent demand has shown a significant recovery, with 65,000 BTC accumulated in the past month, this figure is still lower than the peak levels observed in 2024. The positive turnaround in apparent demand on April 24, following two months of continuous outflows, signals a potential uptrend. However, sustained growth in both apparent demand and demand momentum is crucial for a sustainable rally.

In contrast to the strong inflows from US-spot Bitcoin ETFs in late 2024, current levels have been subdued since March, further indicating a slowdown in institutional demand. Despite early signs of a minor rebound, the overall lack of robust inflows may hinder a prolonged price surge.

Despite facing macroeconomic volatilities and policy-induced pressures, Bitcoin's resilience is evident as it edges closer to the $100,000 mark, currently standing just 6.3% below. The growing institutional interest and diminishing supply constraints, coupled with economic uncertainties, suggest a shift in Bitcoin's role in the global financial market. Tracy Jin suggests a bullish sentiment towards Bitcoin, with the potential for a summer rally aiming for $150,000 and potentially reaching $200,000 by 2026, supported by favorable market conditions and increasing institutional accumulation.