At the beginning of May 2025, Bitcoin is showing strong performance, currently trading at $95,030, up 0.33% in the last 24 hours.
Market performance and technical indicators
Current price range: Bitcoin is trading between $92,000 and $97,000, with expectations of this sideways trend continuing until clear signs of future direction appear.
Moving averages: The 50-day and 200-day moving averages show an upward trend, indicating potential positive momentum.
Relative Strength Index (RSI): It is within the neutral range (30-70), indicating a balance between buying and selling forces in the market.
Market Influencing Factors
U.S. Strategic Reserve: The United States announced the establishment of a strategic reserve of Bitcoin, enhancing confidence in the digital currency and indicating increasing institutional adoption.
Analyst predictions: Analysts at Standard Chartered expect Bitcoin to reach $120,000 in the second quarter of 2025, with the potential to hit $200,000 by the end of the year, driven by the investment shift from traditional assets to digital currencies.
Network growth: Glassnode data indicates a 12% increase in the number of active addresses, reflecting growing interest from investors.
Price predictions for May 2025
According to Changelly analyses, Bitcoin’s price is expected to range between $112,683 and $132,180 during May, with an expected average of $122,431.
Summary
Bitcoin shows strong signals of continuing the upward trend, supported by positive technical and fundamental factors. However, investors are advised to closely monitor the market and prepare for potential volatility, while adhering to prudent risk management.