Bitcoin $BTC has officially hit a new all-time high of $109,800 on May 21, 2025, breaking through key resistance and confirming the next phase of the macro bull trend.
RSI (1D): Currently near 73 — bullish but not overbought.
MACD: Bullish crossover with increasing momentum since early May.
Funding Rates: Elevated but not overheated, suggesting sustainable leverage.
On-Chain & Market Data:
Exchange reserves continue to decline, reinforcing the supply squeeze narrative.
Open Interest has surged past $35B, with over $400M in short liquidations during the breakout.
Large wallet addresses (1k+ BTC) have accumulated aggressively — a bullish signal for mid-term price action.
Next resistance: $112K and $120K (Fib extension targets).
Support: $109K (breakout retest zone) and $103K (prior range high).
Conclusion:
Bitcoin is now in price discovery mode, backed by strong technicals and supportive on-chain signals. While short-term volatility may increase, the trend remains bullish. Traders should watch funding rates and volume closely to assess continuation or correction risk.
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