Bitcoin is back in the spotlight—surging past $100,000 for the first time in months and sparking new predictions of a powerful bull run.
Quick Highlights:
Bitcoin jumped 4.3% on May 9, hitting $102,849
The rally triggered $800M in short liquidations—the largest since 2021
Analysts now suggest targets as high as $180K… or even $1M in the long run
A weekly “bull flag” pattern could signal more upside
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BTC Breaks Back Into 6 Figures
Bitcoin (BTC) smashed through the $100,000 barrier on May 8, reaching a high of $104,150 in late trading. It’s the first time since February the digital asset crossed that milestone.
The surge wiped out nearly $925 million in liquidations—$800 million of that from traders betting against the rally. It was the biggest short squeeze in over three years.
Investor sentiment is heating up too. The Crypto Fear & Greed Index jumped from 65 to 73 in a day, leaning heavily toward “greed.”
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Is the Rally Just Getting Started?
Market analysts say the current momentum has legs. Several major resistance levels lie just above the current price, with over $2.8 billion in sell orders stacked between $105K and the all-time high of $109,500.
But despite being technically “overbought” on some indicators like RSI, analysts still see upside potential.
> “BTC is above the 5MA, 10MA, and 20MA with the MACD showing strength,” noted analyst GemXBT. “The trend remains bullish.”
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Big Predictions: $106K, $170K… Even $1M?
AlphaBTC says BTC may soon test $106,000, citing a bullish parallel channel.
Egrag Crypto is aiming higher, targeting $170,000 as a potential cycle top—if BTC can close above $109K.
Changpeng Zhao (CZ), former Binance CEO, believes BTC could reach $500K to $1 million during this cycle, backed by institutional adoption and favourable U.S. policy under the Trump administration.
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The Bull Flag Breakout Could Mean $180K+
Technically, Bitcoin has formed a bull flag—a chart pattern that often signals more upside after a consolidation phase.
On April 22, BTC broke out above the top of the flag at $88,000. Based on the size of the previous rally, this could imply a move toward $182,200—a 75% gain from today’s levels.
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Final Thoughts
Bitcoin’s momentum is real—and the market is watching closely. Whether this run ends at $106K or climbs toward the $180K+ mark, traders are locked in.
As always: This isn’t financial advice. Crypto is volatile. Do your own research.
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