$BTC Today, May 9, 2025, Bitcoin (BTC) is showing impressive growth, surpassing the $100,000 mark and reaching $103,192.
š¹ Key growth factors:
Macroeconomic events: Optimism surrounding a new trade agreement between the USA and the UK, as well as potential progress in negotiations with China, has contributed to strengthening investor confidence in Bitcoin.
Technical indicators: The Relative Strength Index (RSI) exceeds 70, indicating strong upward momentum, although there may be short-term overbought conditions.
Institutional investments: The BlackRock ETF recorded an influx of $69 million in a single day, reflecting growing interest from institutional investors in cryptocurrency.
User activity: The Bitcoin network recorded the creation of 344,620 new wallets, indicating a significant influx of new participants into the market.
š Technical analysis:
Bitcoin has surpassed a key resistance level and is now targeting the following goals:
Nearest resistance: $107,000
If the support level at $100,000 holds, it will strengthen the bulls' positions and could lead to further growth.
