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.

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.

🚨BLACKROCK’S EUROPEAN BITCOIN ETP TOPS $1.1B AUMBlackRock’s iShares Bitcoin ETP $IB1T now holds about 4,200$BTCas assets surpassed $1.1 BILLION.The fund launched in March 2025 and trades across major European exchanges, expanding BlackRock’s crypto footprint in the EU.pic.twitter.com/5yArBLjt0d

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 (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.

Source: Watcher Guru