Bitcoin Real-time News Dispatch | May 15, 2025

1. Price and Technical Indicators Diverge: Overbought Signals Raise Concerns for a Pullback

Bitcoin fluctuated slightly today, currently priced at $103,454, just a step away from its historical high of $105,000. However, the Bitcoin RSI (Relative Strength Index) indicates an overbought state, suggesting a possible pullback in the short term. Glassnode data shows that the market's open interest reached $68 billion, close to historical highs, indicating that a surge in leveraged trading could exacerbate volatility risks.

2. Institutional Bullish Sentiment Soars: Blockstream CEO Predicts Million-Dollar Target

Blockstream CEO Adam Back stated in an interview today that Bitcoin's current price (around $103,000) is underestimated, and it could rise to between $500,000 and $1 million during this cycle. His rationale includes over $41 billion in cumulative net inflows into U.S. Bitcoin spot ETFs and the Trump administration's crypto-friendly policies boosting market fundamentals.

3. Macroeconomic Tailwinds Support Rebound: Easing U.S.-China Tariffs and Progress on Stablecoin Legislation

On Wednesday, Bitcoin rebounded by 1.3% to $103,862, primarily driven by weak U.S. April CPI data (inflation rate at 3.3%) and easing U.S.-China trade tensions. The two countries announced a reduction in tariffs from 145%/125% to 30%/10% for 90 days, alleviating market concerns over inflation and the global economy. Additionally, bipartisan efforts in the U.S. are accelerating stablecoin legislation, which, if passed by the Senate before May 26, will further enhance regulatory certainty.

4. Signs of Market Overheating Emerge: Profit-Taking and Gold Correlation Become Concerns

Despite Bitcoin's total market capitalization returning to $2 trillion and surpassing Amazon (the fifth-largest asset globally), analysts warn that market sentiment has become overheated. The Head of Research at Bitwise noted that the crypto asset sentiment index has reached its peak since November 2024, with concentrated long positions potentially triggering a short-term pullback. Moreover, the correlation between Bitcoin and gold has strengthened, and if gold continues its downward trend, Bitcoin may face similar pressure.

5. Recent Volatility Review: Over 150,000 Liquidations Warn of Risks

Last week (May 12), Bitcoin briefly surged to $105,000 before plummeting to $103,000, resulting in over 150,000 liquidations within 24 hours. This volatility was attributed to a technical pullback following a continuous rise, compounded by geopolitical developments (progress in Russia-Ukraine negotiations) affecting risk assets in the short term.