$BTC Update — May 3, 2025: Approaching $100K?
As of today, Bitcoin (BTC) is trading around $96,700, up nearly 30% from its April lows. The surge is fueled by bullish news, including a potential crypto trading rollout by Morgan Stanley’s E*Trade and MicroStrategy’s plans to buy $21 billion in BTC via stock issuance.
Market Snapshot
Current Price: ~$96,700
Key Resistance Levels: $100K and $107K
Support Levels: $92K and $85K
Technical Setup: BTC has broken out of a descending channel and a bullish pennant pattern—indicating strong upward momentum.
Forecasts for 2025
Analysts outline three main scenarios:
Conservative: $98K–$126K
Optimistic: $150K–$175K
Aggressive: Up to $225K
These projections depend on institutional adoption, post-halving demand, inflation rates, and central bank policies.
Where Is Bitcoin Heading?
With momentum building, a break above $100,000 is possible in the short term. However, RSI indicators are nearing overbought territory, signaling a potential short-term correction.
Final Thoughts
Bitcoin continues to prove its role as a hedge against macro uncertainty. Despite possible volatility, the long-term outlook remains positive.
This post is for informational purposes only and does not constitute financial advice.
