Bitcoin has once again surged into the spotlight, reclaiming its position as a top 5 global asset with a staggering $2 trillion market cap as of May 10, 2025. This milestone marks a significant leap from its ranking of number 7 just a week prior, overtaking tech giants like Amazon and Google. Now, Bitcoin is setting its sights on surpassing Nvidia and Apple to potentially break into the top 3 global assets by the end of the year, according to a tweet by crypto analyst Miles Deutscher on May 10, 2025. This rapid ascent reflects Bitcoin's growing dominance and investor confidence amid a broader market rally. As of 10:00 AM UTC on May 10, 2025, Bitcoin's price reached $102,500 on major exchanges like Binance and Coinbase, with a 24-hour trading volume exceeding $85 billion across spot markets. This volume spike indicates robust institutional and retail interest. The BTC/USD pair saw a 12.5% increase week-over-week, while BTC/ETH gained 8.3% in the same period, showcasing Bitcoin's strength against other cryptocurrencies. The crypto market's total capitalization also rose by 7.2% in the past week, hitting $3.1 trillion, with Bitcoin accounting for over 60% of the dominance as per data tracked on CoinMarketCap. This rally coincides with a favorable macroeconomic environment, including a 2.1% uptick in the S&P 500 index over the same period, suggesting a risk-on sentiment among investors driving capital into high-growth assets like Bitcoin.

From a trading perspective, Bitcoin's ascent to a $2 trillion market cap opens up multiple opportunities and risks for crypto traders. As of May 10, 2025, at 12:00 PM UTC, Bitcoin's price hovered around $102,800, with intraday volatility of 3.7% as reported on Binance. This volatility presents short-term scalping opportunities on the BTC/USDT pair, especially for traders monitoring key support at $98,500 and resistance at $105,000. On-chain data reveals a significant uptick in whale activity, with over 15,000 BTC moved to cold storage wallets in the past 48 hours, signaling accumulation by large holders as tracked by Glassnode. Meanwhile, the correlation between Bitcoin and major stock indices like the Nasdaq remains high at 0.82, indicating that any sudden downturn in equities could trigger a pullback in BTC. Traders should also watch the BTC/ETH pair, which saw trading volume increase by 18% to $12.4 billion in the last 24 hours as of 1:00 PM UTC on May 10, 2025, on exchanges like Kraken. This suggests altcoin investors may rotate profits into Bitcoin, further fueling its rally. For those eyeing long-term positions, the potential for Bitcoin to challenge Nvidia's $2.3 trillion market cap by year-end could drive FOMO-driven buying, but caution is advised given historical overbought conditions at similar levels.

Technical indicators further underscore Bitcoin's bullish momentum while highlighting areas of caution. As of 2:00 PM UTC on May 10, 2025, the Relative Strength Index (RSI) for BTC/USD on the daily chart stands at 72, indicating overbought conditions but not yet extreme levels, as seen on TradingView data. The 50-day Moving Average (MA) at $92,000 provides strong support, while the 200-day MA at $85,500 suggests a long-term bullish trend. Volume analysis shows a 24-hour spot trading volume of $88 billion across major pairs like BTC/USDT and BTC/ETH, up 25% from the previous week, reflecting sustained buying pressure. On-chain metrics from Glassnode indicate a 30% increase in active addresses since May 3, 2025, reaching 1.2 million daily, a sign of growing network adoption. The stock-to-flow model, often cited by PlanB, continues to project a fair value of $110,000 for Bitcoin by Q4 2025, supporting the top 3 asset narrative. Additionally, the correlation with crypto-related stocks like MicroStrategy (MSTR) remains strong, with MSTR gaining 9.4% to $1,850 per share as of market close on May 9, 2025, per Yahoo Finance data. This reflects institutional money flow into Bitcoin proxies, further boosting sentiment.

Cross-market analysis reveals a deepening interplay between Bitcoin and traditional equities. The S&P 500's 2.1% gain week-over-week as of May 10, 2025, mirrors Bitcoin's rally, with a correlation coefficient of 0.78 as tracked by CoinDesk indices. Institutional inflows into Bitcoin ETFs, such as BlackRock's iShares Bitcoin Trust (IBIT), saw a record $1.2 billion net inflow for the week ending May 9, 2025, according to Bloomberg data. This suggests that traditional finance players are increasingly viewing Bitcoin as a hedge against equity volatility, especially as Nvidia and Apple face earnings-related headwinds. Traders can capitalize on this by monitoring BTC/USD alongside SPY (S&P 500 ETF) for synchronized movements, particularly during U.S. market hours from 9:30 AM to 4:00 PM EST. However, a risk-off shift in equities could see capital rotate out of Bitcoin, potentially dropping prices to the $95,000 support level within hours. With Bitcoin eyeing a top 3 spot, the interplay of stock market sentiment and crypto adoption will be critical for traders to navigate in the coming months.

FAQ Section:
Can Bitcoin reach the top 3 global assets by the end of 2025?
Bitcoin's current trajectory, with a $2 trillion market cap as of May 10, 2025, positions it close to Nvidia's $2.3 trillion valuation. Sustained institutional inflows and positive stock market sentiment could push BTC higher, but overbought technicals like an RSI of 72 suggest a potential pullback before further gains.

What are the key levels to watch for Bitcoin trading?
Traders should monitor support at $98,500 and resistance at $105,000 on the BTC/USDT pair as of May 10, 2025. A break above $105,000 could signal a move toward $110,000, while a drop below $98,500 may test the 50-day MA at $92,000.

How does stock market performance impact Bitcoin?
Bitcoin's correlation with the S&P 500 stands at 0.78 as of May 10, 2025. A bullish equity market drives risk-on sentiment, boosting BTC, while a downturn could trigger outflows, especially given high institutional exposure via ETFs like IBIT.