RoYoK
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Bullish
👏🐋 Bitcoin rises amid expectations for trade talks between the U.S. and China
The largest digital asset rose by around 3.2% to exceed $97,500 on Wednesday morning in Singapore before trimming gains.
"The level of $95,000, currently in consolidation, is a critical pivot point, acting as the lower limit of a three-month range that defined the market structure between November 2024 and February 2025," Bitfinex said in a market report on May 6.
If Bitcoin remains above $95,000, it would indicate a "structural shift"
Bitfinex indicated that if Bitcoin stays above the $95,000 level, it would signal a "structural shift" towards bullish territory, with a potential upward trend to retest its all-time highs.
Bitcoin reached its all-time high of $109,000 on January 20, just hours before the inauguration of U.S. President Donald Trump.
At the time of publication, Bitcoin is trading at $96,730, with a 3.03% increase in the last 24 hours, according to data from CoinMarketCap.
However, Bitfinex analysts said that if Bitcoin fails to stay above $95,000, it could face a further decline.
$BTC
#BitcoinReserveDeadline
The largest digital asset rose by around 3.2% to exceed $97,500 on Wednesday morning in Singapore before trimming gains.
"The level of $95,000, currently in consolidation, is a critical pivot point, acting as the lower limit of a three-month range that defined the market structure between November 2024 and February 2025," Bitfinex said in a market report on May 6.
If Bitcoin remains above $95,000, it would indicate a "structural shift"
Bitfinex indicated that if Bitcoin stays above the $95,000 level, it would signal a "structural shift" towards bullish territory, with a potential upward trend to retest its all-time highs.
Bitcoin reached its all-time high of $109,000 on January 20, just hours before the inauguration of U.S. President Donald Trump.
At the time of publication, Bitcoin is trading at $96,730, with a 3.03% increase in the last 24 hours, according to data from CoinMarketCap.
However, Bitfinex analysts said that if Bitcoin fails to stay above $95,000, it could face a further decline.
$BTC
#BitcoinReserveDeadline
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