$XRP Price Predictions for May 9: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX

Bitcoin bulls aim to turn the $100,000 level into support, and if they succeed, altcoins could rally.



Price Analysis

Key Points:

If Bitcoin holds the $100,000 as a support level, it would confirm the current trend reversal.

Ether leads among altcoins, and DeFi tokens may follow.

Bitcoin 

BTC

€91,949

 surpassed the psychologically critical $100,000 level on May 8, and bulls are trying to maintain that level on May 9. In a post on X, CoinGlass stated that Bitcoin's rally resulted in $837.80 million in short position liquidations over a 24-hour period, the largest since 2021.

Bitcoin's rally also boosted several major altcoins, which surpassed their respective upper resistance levels. The altcoin rally was led by Ether 

ETH

€2,105

, which skyrocketed approximately 22% on May 8, triggering a liquidation of $328 million in short positions of Ether.Daily data from the cryptocurrency market. Source: Coin360

Although the short-term outlook has turned positive, Bitcoin bulls are expected to face significant resistance near the all-time high of $109,588. During corrections, traders will need to keep the price above $100,000 to maintain bullish momentum.

Could Bitcoin continue its upward movement and surpass the all-time high? Are altcoins preparing for a short-term rally? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin Price Prediction

Bitcoin rose more than 6% and closed above the $100,000 barrier on May 8, indicating that buyers have asserted their dominance.

Daily candlestick chart of the BTC/USDT pair. Source: Cointelegraph/TradingView

The BTC/USDT pair could