Bitcoin’s price has experienced a slight decline, dropping by 4.3% over the past three days, hovering around $94,000 after almost reaching $97,900 on May 2. Despite this setback, the rise in BTC dominance and significant institutional investments indicate a positive outlook for Bitcoin. Institutional investors are showing a strong appetite for Bitcoin, with notable purchases by Strategy and spot BTC ETFs, underscoring their confidence in the cryptocurrency. Bitcoin’s dominance in the crypto market has surged to 70%, its highest since January 2021, despite the introduction of new tokens like SUI, Toncoin (TON), PI, Official Trump (TRUMP), Bittensor (TAO), Ethena (ENA), and Celestia (TIA) in the top 50 projects. The spot Bitcoin ETFs have witnessed $4.5 billion in net inflows between April 22 and May 2, reflecting growing institutional interest. The total open interest in Bitcoin futures markets has reached 669,090 BTC, a 21% increase since March 5, indicating a strong demand for leveraged positions. Although Bitcoin has struggled to surpass the $100,000 mark, factors such as the delay in the US Strategic Bitcoin Reserve bill implementation and global economic uncertainties have hindered its progress. Strategy’s recent announcement of acquiring 1,895 BTC and doubling its capital increase plan to fund further purchases signals a positive sentiment towards Bitcoin’s future price potential. To achieve a new all-time high, Bitcoin investors will need reassurance on improving US-China trade relations. Despite the challenges, the groundwork for a significant BTC bull run above $100,000 seems to be in place. This information is for general purposes and not investment advice. The views expressed are solely the author’s and do not necessarily represent those of Cointelegraph.