โข Bitcoin witnessed a major rally in the last week, surging from about $58,200 on May 1 to its current value, a 7.9% jump. Experts credit this upsurge with the increasing institutional adoption and a shortage of retail liquidity coupled with global tariff uncertainties.
โข In the cryptocurrency derivatives market, Bitcoin is now facing between significant resistance and support levels, with notable investor activity seen around the $97,000 level. This is indicative of large owners, who are commonly known as "whales," positioning themselves in preparation for expected price action.
โข Looking forward, a number of analysts and institutions have offered optimistic predictions for the price of Bitcoin by the end of 2025. Estimates vary between $122,000 and as much as $700,000, with variables like institutional investment, regulatory advancements, and sentiment in the markets determining these predictions.
โข Further, the U.S. government's creation of a Strategic Bitcoin Reserve in March 2025, for the purpose of keeping government-held Bitcoin as a reserve asset at the national level, has served to enhance confidence in Bitcoin's long-term value proposition further.
