Bitcoin Surpasses the $100,000 Barrier – The Start of a New Wave of Ascension?
On Friday, May 9, 2025, Bitcoin recorded a strong jump, exceeding $100,000 for the first time since February, and is currently trading near $102,700, indicating strong buying momentum.
Quick Technical Analysis:
Upcoming Resistances: $106,500 and $107,000, surpassing them could push the price towards $120,000.
Key Support: $100,000, and breaking it could bring the price back to the range of $92,000–$95,000.
RSI: Above 70, indicating overbought conditions, which may signal a temporary correction.
Key Supporting Factors:
Massive institutional inflows exceeding $5.5 billion over 3 weeks.
A trade agreement between the U.S. and the U.K. has increased risk appetite.
Supportive crypto regulations in U.S. states enhance market confidence.
Are we on the brink of a new price explosion?