đ Bitcoin Inches Toward All-Time High â $109K in Sight | M4Profits
May 21, 2025 â M4Profits Crypto Brief
Bitcoin (BTC) surged to $108,000 mid-Wednesday before easing to the key $106,000 level. A daily close above this zone could flip resistance into support â potentially triggering a fast run to the $109,300 all-time high.
Despite April's U.S. Leading Economic Index (LEI) falling 1%, market sentiment remains upbeat. The S&P 500 is climbing, and easing trade tensions are supporting bullish momentum.
Technically, BTC trades in a rising channel â often a bearish setup. If the support at $106K fails, BTC could test $104K or even $97K. But if buyers step in, a breakout could come quickly.
Adding fuel, the U.S. Dollar Index (DXY) is nearing breakdown territory at $100. A weaker dollar often boosts BTC, making the current setup one to watch closely.
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Disclaimer: This is not financial advice. Do your own research.
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