Bitcoin($BTC )update:
As of May 19, 2025, Bitcoin ($BTC ) continues its bullish trajectory, trading around $104,772 with a 1.38% increase over the past 24 hours. The cryptocurrency has reached a new milestone, surpassing a $2.1 trillion market capitalization, indicating strong bullish momentum in the crypto market .
Analysts predict that Bitcoin could reach $129,096 by May 23, 2025, representing a 23.59% increase from its current price . Technical indicators suggest that if Bitcoin breaks through the critical resistance at $106,500, it could potentially rise towards $120,000 .
Institutional interest remains high, with BlackRock’s iShares Bitcoin Trust (IBIT) seeing a record daily inflow of $500 million on May 17, 2025 . Additionally, the U.S. government's establishment of a Strategic Bitcoin Reserve in March 2025 underscores the growing institutional adoption of Bitcoin .
While the outlook for Bitcoin(#BTC )is optimistic, analysts advise caution due to potential market volatility and overbought conditions. Traders should monitor key support levels around $101,500 and resistance at $106,500 to navigate potential price swings.