- Bitcoin surged nearly 10% this week to trade around $103,000, driven by improved market sentiment from a U.S.-UK trade deal
- This rising institutional ETF inflows and growing state-level adoption.
- Bulls now target $105,000, with technical indicators showing strong momentum despite potential overbought risks.
Bitcoin bulls are back in control after a stellar week that saw prices surge nearly 10%, pushing BTC to $103,000 by Friday. With market momentum heating up and fresh capital flowing into Bitcoin exchange-traded funds (ETFs), bulls are eyeing the $105,000 level before testing the all-time high.
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Risk-On Sentiment Returns Amid Global Trade Developments
This week’s rally was largely fueled by improving market sentiment after U.S. President Donald Trump announced a trade deal with the United Kingdom. The agreement, which included tariff reductions and improved access for U.S. goods, signaled a shift away from prolonged trade tensions. It also arrived just ahead of high-level talks between the U.S. and China scheduled for this weekend.
The anticipation of further trade agreements has buoyed investor confidence across risk assets, with Bitcoin among the biggest beneficiaries. As fears of a global economic slowdown eased, traders returned to crypto markets in search of returns.
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U.S. States Move Toward Bitcoin Reserves, Boosting Adoption Narrative
At the state level, Arizona made headlines after Governor Katie Hobbs signed House Bill 2749, establishing a Bitcoin and Digital Asset Reserve Fund. The law allows Arizona to claim ownership of unclaimed crypto assets after three years and aims to generate value through staking and airdrops, without burdening taxpayers.
New Hampshire recently enacted a similar measure, and more states like North Carolina and Texas are reportedly exploring comparable legislation. These developments suggest a rising trend in government-level adoption, which could further validate Bitcoin as a legitimate asset class.
Institutional Inflows Power a Fourth Week of Gains
Another critical driver of this week’s surge is institutional demand. U.S. spot Bitcoin ETFs have recorded almost $600 million in inflows this week alone, marking the fourth consecutive week of net-positive inflows. Companies like Strategy and Semler Scientific also increased their BTC holdings, reinforcing the perception of Bitcoin as a long-term strategic asset.
Strategy, for instance, added 1,895 BTC worth $180 million, pushing its total holdings past 555,000 BTC. Semler Scientific now holds 3,634 BTC, making it the fourth-largest Bitcoin-holding company in the U.S.
What’s Next for Bitcoin?
Technical indicators support the bullish outlook. The RSI currently reads 76, signaling strong momentum though also hinting at overbought conditions. A pullback remains possible, but the next target is clearly set at $105,000. Should this level break, Bitcoin could attempt to retest its all-time high of $109,588.
With institutional backing, regulatory momentum, and a bullish chart setup, Bitcoin’s rally may only be getting started.
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