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Cryptocurrencies

Bitcoin stabilizes above $100,000.. and Ethereum records its best week since 2021



Published on Friday, May 9, 2025 | 8:19 PM

Last updated on Friday, May 9, 2025 | 8:31 PM



Cryptocurrencies, Bitcoin/ AFP

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Cryptocurrencies continued to rise as the week came to a close, with the price of Bitcoin stabilizing above the $100,000 mark, while Ethereum achieved its best weekly performance since 2021.

Read also: Bitcoin continues to rise and surpasses $103,000 for the first time in 3 months

The price of Bitcoin rose by 2% to reach $103,249.99 on Friday, according to Coin.

Earlier, it rose to $104,324.65, its highest level since January 31.



During the week, the price of Bitcoin increased by more than 6%, on track to achieve its fourth consecutive positive week, and its first winning streak since November.

Regarding this rise, Gadi Chait, head of the investment division at Zabo Bank, which specializes in Bitcoin, said: "This rise above $100,000 should be seen as more than just euphoria, but as evidence of a flow-driven shift." $BTC

#TradeWarEases
Cryptocurrencies
Bitcoin stabilizes above $100,000... and Ethereum records its best week since 2021

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Published on Friday, May 9, 2025 | 8:19 PM
Last updated on Friday, May 9, 2025 | 8:31 PM

Cryptocurrencies, Bitcoin/ AFP
Listen to the article

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Cryptocurrencies continued to rise as the weekend approached, with the price of Bitcoin stabilizing above the $100,000 mark, while Ethereum achieved its best weekly performance since 2021.

Read also: Bitcoin continues to rise and exceeds $103,000 for the first time in 3 months

The price of Bitcoin rose by 2% to reach $103,249.99 on Friday, according to Coin

Earlier, it climbed to $104,324.65, the highest level since January 31.

During the week, the price of Bitcoin increased by over 6%, on track to achieve its fourth consecutive positive week, and its first winning streak since November.

Regarding this rise, Gadi Chait, head of the investment department at Zabu Bank, which specializes in Bitcoin, said: "This rise above $100,000 should be seen as more than just euphoria, but rather as evidence of a flow-driven transformation."

He added: "Bitcoin whales are accumulating on the supply chains, and the demand for exchange-traded funds continues to set new record numbers, as investors seek 'neutral' assets in a macroeconomic environment affected by tariffs.$BTC

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#ETHCrossed2500 Ethereum ETH
#ETHCrossed2500 Ethereum (ETH) recently surpassed the $2500 level, sparking discussions about potential bullish momentum. According to the Binance platform, Ethereum briefly exceeded this level before retreating to the $2470-2480 range. Currently, ETH is trading at $2466.76, with a 4.15% increase in the last 24 hours.
*Key factors affecting Ethereum's price:*
- *Bullish sentiment:* Analysts believe that surpassing the $2500 level may indicate a significant upward trend, potentially driving the price to $4000 in the near future, as seen in historical patterns.
- *Resistance levels:* Key resistance levels to watch include $2550 and $2700, which could be targets if bullish momentum continues.
- *Market sentiment:* The cryptocurrency market shows mixed signals, with Bitcoin (BTC) trading around $60800, reflecting cautious optimism.
- *On-chain metrics:* There is a clear increase in interest from individual investors, with over 120,000 new Ethereum addresses created in the past week.
- *Correlation with the stock market:* Ethereum's performance often reflects movements in tech-dominated indices like Nasdaq, which recently rose by 0.7%.
*Technical indicators:*
- *Relative Strength Index (RSI):* stands at 58, indicating bullish momentum on the 4-hour chart.$ETH $ETH

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