Bitcoin enthusiasts recover after a short dip to $94K; questioned if $107K could set a new all-time high record.
Bitcoin Hikin' Higher Than Ever
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Hold onto your hats, Bitcoin [BTC] enthusiasts! The cryptocurrency world is ablaze with talk about BTC breaking through the $100k mark, and it looks like we're gunning for it hard.
In the early hours of May 8th, BTC spiked to a staggering $99.8k, just shy of the $100k milestone. This bullish surge comes after the Federal Reserve kept its interest rates steady, deeming the economy "in solid shape" despite lingering stagflation risks.
Technical analysis suggests that BTC is warming up to tackle its all-time high of $108.7k. The bullish phase is evident, but the market doesn't seem overheated yet, leaving plenty of room for further gains.
BTC Investors Gear Up for a Stampede Beyond $100k
Source: BTC/USDT on TradingView
Remember three months ago when BTC plummeted below the $100k barrier and kept on falling to hit $74.5k in early April? Well, hold on tight, because that downward spiral has been swiftly overcome.
BTC has been on a tear ever since, powering through the local highs at $97k. The On-Balance Volume (OBV) has been on a steady upward trend for a month now, challenging the January highs. This is a seriously bullish indicator, indicating strong buying pressure in the market.
The Money Flow Index (MFI) is currently at 70, showing robust bullish momentum. However, it hasn't crossed into overbought territory yet, and there's no bearish divergence as of yet. But Thursday's trading session close might change that!
soure: Coinglass
The 3-month liquidation heatmap reveals a cluster of liquidation levels en route to BTC's bid for a new all-time high. The $100k-$107k range acts as a magnetic zone, with strong forces drawing prices upward. Buckle up, because a breakout and possibly even a new ATH are within reach!
Watch out for the $91.6k-$92.3k liquidity cluster, too. The close proximity and size of these levels overhead make them a potential short-term target for a pullback before BTC breaks through.
Disclaimer: This information is for entertainment purposes only. It doesn't constitute financial, investment, trading, or any other type of advice.
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Enrichment Data:Current predictions are buzzing with bullish excitement for Bitcoin, anticipating a breakout beyond $100k in 2025.
Breaking Barriers and Soaring High
- $124,000 by 2025:: Prediction markets on Kalshi, reported by The Kobeissi Letter on May 8th, 2025, set the median forecast for Bitcoin at a whopping $124,000 by the end of the year[2][5]. This represents a potential increase of 24% from current prices, pointing to a considerable upside potential for BTC[2][5].
- Recent Price Uptrend: Bitcoin has already surged more than 30% from recent lows, indicating a strong upward momentum[2][3][5]. This run-up is partly due to global trade uncertainties, fueling investors' interest in Bitcoin as a safe-haven asset during market turmoil[2][3][5].
- Optimistic Market Sentiment and Macro Factors: The increased bullish sentiment is closely tied to trade tensions and the search for alternatives amid traditional market chaos[2][5]. This environment is believed to be conducive to a Bitcoin breakthrough beyond $100,000, as prediction markets reflect optimism for continuous growth[2][5].
- Bitcoin, currently near $100k, is showing signs of a bullish surge, aiming for its all-time high of $108.7k based on technical analysis.
- In contrast to the recent economic slump due to stagflation risks, the Federal Reserve's steady interest rate recently deemed the economy "in solid shape."
- Bitcoin enthusiasts should brace for a stampede as investors gear up for a breakthrough beyond $100k.
- The 3-month liquidation heatmap displays a strong magnetic zone for BTC between $100k and $107k, making a new all-time high a possibility.
- The Market Sentiment, particularly among prediction markets, is optimistic, fueled by trade tensions and the search for alternatives amid market instability.
- The strength of the On-Balance Volume (OBV) and the Money Flow Index (MFI) signal robust buying pressure, hinting at further gains for crypto investors.
- A potential short-term target for a pullback before Bitcoin breaks through the $100k barrier lies in the $91.6k-$92.3k liquidity cluster.
