Bitcoin (BTC) Update - Friday, May 9, 2025
Bitcoin has surged above $102,000 today, fueled by positive market sentiment following the US-UK trade agreement. This marks a significant climb from yesterday's trading range. Institutional interest remains strong, highlighted by continued inflows into Bitcoin ETFs.
Technically, BTC broke the key $100,000 resistance, suggesting a potential move towards the all-time high around $109,000 from January. However, analysts note the importance of holding above $95,000 to maintain this bullish momentum. Short-term targets are around $102,000 - $105,000.
Factors like supply and demand, market sentiment, regulatory developments, and macroeconomic conditions continue to influence Bitcoin's price. Predictions for 2025 vary, with some expecting a range of $120,000 to $200,000 by year-end.
Disclaimer: Crypto investments are risky. This is not financial advice.
