$BTC May 8, 2025#BTC/USDT Market Snapshot

Bitcoin (BTC) has surged past the $99,000 mark, currently trading at approximately $99,492. This upward momentum reflects a 2.6% increase over the past 24 hours, with intraday movements ranging between $95,959 and $100,131.

Technical analysis indicates a bullish breakout from a falling wedge pattern, suggesting potential for continued upward movement. However, traders should remain cautious, as some analysts note a possible bearish reversal signal near the $97,700 level, indicating a double top formation.

Market sentiment remains optimistic, with strong buy orders observed just below the current price, reinforcing support levels. As BTC approaches the psychological barrier of $100,000, traders are closely monitoring for either a decisive breakout or a potential pullback.

Stay informed and consider your trading strategies carefully in this dynamic market environment.