Bitcoin ($BTC ) is trading at approximately $95,909, reflecting a slight decline of 0.62% from the previous day.
Market analysts suggest that Bitcoin $BTC may experience a short-term pullback, potentially dipping below $96,000. This is attributed to a decrease in the Chaikin Money Flow (CMF) indicator, indicating rising bearish strength. However, the overall sentiment remains bullish, with predictions of Bitcoin $BTC reaching between $97,500 and $105,000 by the end of May.
Technical indicators support this optimistic outlook. A bullish crossover in the weekly Bull Market Support Band (BMSB) suggests the start of an upward trend. Additionally, a significant long position of $136 million at 40x leverage by a major Bitcoin whale indicates strong confidence in the market's upward potential.
In summary, while a minor short-term correction is possible, the prevailing market indicators and investor actions point towards a continued bullish trajectory for Bitcoin in May 2025.
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