$BTC Market Update – May 12, 2025

Bitcoin (BTC) has demonstrated significant bullish momentum, currently trading at $104,446, with an intraday high of $105,525. This surge is attributed to positive developments in U.S.-China trade relations, which have bolstered investor confidence in risk assets like cryptocurrencies.

Technical analysis indicates a strong uptrend, with BTC breaking above the critical resistance level of $105,000. The 50-day Exponential Moving Average (EMA) at $103,818 has provided robust support, reinforcing the bullish outlook. The Moving Average Convergence Divergence (MACD) indicator also shows a bullish crossover, suggesting continued upward momentum.

Key resistance levels to watch are $106,750 and $107,300, while immediate support is found at $103,818 and $103,080. Analysts predict that if BTC maintains its current trajectory, it could reach new all-time highs, with some forecasts suggesting a potential rise to $121,243 in the near term.

Investors should remain vigilant, as market conditions can change rapidly. Monitoring key support and resistance levels, along with macroeconomic indicators, will be crucial in navigating the current market landscape.