📈 Current Price and Trend
As of May 7, 2025, Bitcoin is trading around $96,885, up over 30% from last month's low of $74,000.
This surge is driven by:
Institutional adoption, like MicroStrategy holding over $21 billion in BTC.
Major banks like Morgan Stanley offering crypto trading. (Source: Investopedia)
📊 Technical Analysis
Resistance levels: $100,000 and $107,000
Support levels: $92,000, $88,800, and $85,000
Bitcoin recently broke out of a descending channel, a bullish sign, but trading volume is low — which could suggest a weak rally. (Source: Investopedia)
🔮 Forecasts
Cautious Estimate: Changelly predicts BTC will stay between $85,000 and $91,000 by July 2025.
Optimistic Estimate: CoinDCX expects it may hit $115,000 by the end of 2025.
Bullish Outlook: Some analysts believe it could go beyond $220,000 if institutional demand remains strong. (Sources: Changelly, CoinDCX, Blockchain News)
⚠️ Risks to Watch
Low trading volume: could lead to volatility.
Regulatory pressure: any negative government action could pull prices down.
Key Support Break: If Bitcoin falls below $88,800, it could trigger a bearish move. (Source: CoinDesk)
✅ Final Answer
Trend: Bullish in the short-to-medium term
Key Level to Watch: $100,000 resistance
If broken: Could accelerate toward $115K–$220K
But: Stay cautious due to volume and regulatory uncertainty
