As of May 5, 2025, Bitcoin (BTC) is trading at approximately $95,685, reflecting a slight dip of 0.73% over the past 24 hours.
📊 Technical Overview
Bitcoin recently broke out of a descending channel and pennant pattern, signaling bullish momentum. Key resistance levels to watch are at $100,000 and $107,000, while support levels are at $92,000 and $85,000.
Analysts note that Bitcoin is exhibiting higher highs and higher lows, indicating sustained buying interest.
🏦 Institutional Developments
Morgan Stanley's Crypto Expansion: Reports suggest that Morgan Stanley may introduce spot cryptocurrency trading to its E*Trade platform, potentially increasing retail access to Bitcoin.
MicroStrategy's Investment: MicroStrategy plans to purchase more Bitcoin through a $21 billion equity offering, reinforcing institutional confidence in BTC.
🔮 Price Predictions
Analysts predict that Bitcoin could reach new all-time highs in 2025:
Standard Chartered: Forecasts a potential peak of $120,000 in Q2 2025, citing economic uncertainties and increased institutional interest.
Changelly: Estimates that BTC could trade between $100,460 and $116,456 in 2025, with an average price around $132,453.
📅 Cycle Analysis
Based on historical patterns, some analysts suggest that Bitcoin's current cycle could peak around October 11, 2025.
