The Bitcoin market rally continued on May 9, pushing the flagship cryptocurrency past $103,000 and adding 1.9% in 24 hours, according to CoinGecko. At the same time, traditional markets delivered mixed results despite an announced trade deal between the U.S. and the United Kingdom.
The Dow Jones slipped by 0.11%, while the S&P 500 and Nasdaq each gained about 0.08%. Investors remain cautious ahead of U.S.–China talks, which are expected to shape global economic policy in the coming weeks.
Bitcoin Market Rally Gains More Momentum
The ongoing Bitcoin market rally showed renewed strength as the cryptocurrency surged past resistance levels, reaching a daily high of $103,890. Over the past seven days, Bitcoin has gained 6%, further confirming its bullish momentum.
Trade volume skyrocketed by 58.13% to $71.73 billion, reflecting increasing demand on spot markets. BTC’s market cap also rose by 1.59%, hitting $2.04 trillion.
These movements suggest that Bitcoin remains a preferred asset in times of macroeconomic uncertainty.
BTC Price Movement Signals Strong Support
The current BTC price movement shows strong buyer support near the $101,000 level. The digital asset is maintaining its position above $100K, reinforcing the psychological barrier as a new support zone.
Google Trends shows that search interest in “Bitcoin” has climbed to 58 on the index scale, suggesting renewed public attention. This is often a leading indicator of continued price action, especially when aligned with rising trade volume and media coverage.
Crypto Dominance Shifts as Capital Eyes Altcoins
Despite Bitcoin’s growth, crypto dominance is beginning to shift. While BTC’s absolute market cap has increased, its share of the total crypto market slipped to 60.7%. This suggests a slow reallocation of capital into altcoins, as investors seek higher risk-reward opportunities.
Still, Bitcoin retains its leadership role. Analysts note that capital rotation is common during sustained rallies and does not necessarily signal weakness in Bitcoin itself.
Altcoin performance will be crucial to watch in the coming weeks as traders diversify within the crypto asset class.
Stock and Crypto Markets Respond Differently to Policy
The contrast between stock and crypto markets has become more visible. While the U.S.–UK trade agreement helped ease global tensions, equity markets remain hesitant as investors wait for results from upcoming China negotiations.
Meanwhile, the crypto market, led by Bitcoin, has responded with confidence. One reason may be the Trump administration’s decision to cut Chinese import tariffs from 145% to 80%, a move seen as de-escalatory before the Bessent summit in China.
This divergence in market behavior highlights the growing independence of Bitcoin and digital assets from traditional financial systems.
