#BreakingCryptoNews
As of May 12, 2025, Bitcoin (BTC) is trading at $103,970, experiencing a slight decline of 0.16% over the past 24 hours. The cryptocurrency has recently surpassed the significant $100,000 threshold, marking a substantial recovery from its April lows.
đ Technical Analysis
Support Levels: Bitcoin has established a strong support zone around $100,000. Maintaining this level is crucial for sustaining the current bullish momentum.
Resistance Levels: Immediate resistance is observed near $107,000. A successful breach of this level could pave the way for further gains towards $120,000.
Indicators: The Relative Strength Index (RSI) is currently above 70, indicating that Bitcoin is in overbought territory. This suggests a potential for short-term consolidation or a minor pullback before the next upward move.
đ Market Sentiment
Investor sentiment remains bullish, bolstered by recent developments such as the U.S.-U.K. trade agreement and increasing institutional interest. Notably, inflows into spot Bitcoin ETFs have reached $5.3 billion over the past three weeks, reflecting growing confidence in the asset.
đŽ Outlook
Analysts project that if Bitcoin maintains its position above the $100,000 support level, it could target the $120,000 mark in the near term. However, failure to hold this support may lead to a retracement towards $93,000, where significant technical support lies.
