$BTC

On Friday, May 9, 2025, Bitcoin (BTC) experienced a significant rise, surpassing the $100,000 mark and reaching around $102,700. This increase is attributed to improved sentiment in global markets, supported by positive developments in trade agreements between the United States and the United Kingdom, and a decrease in concerns regarding tariffs with China.

Current Technical Analysis

Moving Averages: The 50-day moving average shows strong support at the $92,000 level, while the 200-day moving average indicates a long-term bullish trend at around $85,500.

Relative Strength Index (RSI): The RSI shows a value of 68 on the daily chart, indicating that Bitcoin is approaching overbought territory, with the possibility of some selling pressure in the short term.