Bitcoin Analysis After Breaking the $99,000 Level (#BTCBreaks99K)
Date: May 8, 2025
Current Price: $99,643
Daily Change: +$2,721 (+2.8%)
Highest Price Today: $99,835
Lowest Price Today: $95,959
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Factors Supporting the Rise
1. Stability of U.S. Interest Rates:
The U.S. Federal Reserve kept interest rates unchanged, increasing investor appetite for Bitcoin as a hedge against inflation.
2. Strong Inflows to ETF Funds:
A noticeable increase in institutional investments in Bitcoin exchange-traded funds.
3. Accumulation by Whales:
An increase in the number of wallets holding more than 1,000 BTC, reflecting the confidence of major investors in the continued rise.
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Technical Analysis
Upcoming Resistances:
$100,000
$101,800
$104,000
Nearby Supports:
$97,700
$96,400
Indicators:
RSI and MACD indicate strong positive momentum.
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Upcoming Predictions
Bitcoin is likely to test the $100,000 barrier within the next few hours or days, provided the current momentum continues. However, caution should be exercised for quick corrections due to the market's sensitivity to any unexpected news.
