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Over the past 30 hours, Bitcoin (BTC) has seen significant volatility, driven by technical and macroeconomic factors. As of May 21, 2025, at 16:55 (Romania time), the price of BTC is hovering around $107,038, marking an increase of approximately 2.5% compared to the previous day.
đ Recent BTC Price Evolution
May 20, 2025: BTC reached a high of $107,270, followed by a correction to $104,199.
May 21, 2025: The price fluctuated between $106,136 and $107,855, indicating increased volatility. (StatMuse)
This rapid upward movement followed by a sharp correction suggests a possible "fake breakout" or temporary market manipulation.
đ° Macroeconomic Factors and Relevant News
Moody's Downgrades US Credit Rating: On May 17, Moody's downgraded the US credit rating, which created uncertainty in financial markets and influenced BTC volatility.
Crypto Legislation in the US Congress: On May 19, the US Senate discussed the GENIUS Act bill, aimed at regulating stablecoins. This potential regulation has sparked mixed reactions among investors.
Optimistic Forecasts: Analyst Kevin Svenson predicted that BTC could reach $115,000, but stressed that maintaining this trend depends on the performance of the stock market. (The Daily Hodl)
đ Technical Analysis and Data from Coinglass
Open Interest: Data from Coinglass shows a record open interest of $74.24 billion, indicating intense activity in the derivatives market.
Liquidation Heatmap: The liquidation heatmap shows areas of risk around $107,800, with estimated exposures of over $83.83 million, suggesting potential selling pressure in the event of a correction.
đ§ Conclusion
BTCâs recent movements reflect a market sensitive to macroeconomic factors and news events. It is essential for traders to closely monitor key support and resistance levels and exercise caution during periods of heightened volatility. (YCharts)
