On May 16, Bitcoin surged around 104,000 USD, just 4% short of its historical peak. The rally came after the US PPI for April cooled, reinforcing risk appetite. The total crypto market cap held at 3.33 trillion USD despite altcoins dropping: XRP fell 5.7% to 2.39 USD, Solana is at 173 USD, Ethereum dropped to 2,571 USD; meme-coin Dogecoin and TRUMP lost over 3%. Expert Tony “The Bull” Severino stated that the 108,000 USD threshold will determine the trend: accumulation for a breakout or reversal. To set a new peak in May, Bitcoin needs strong volume, a weekly RSI above 70, and a close above the upper Bollinger Band.
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