Bitcoin Eyes $100K as Bulls Regain Control

By: blockchainreporter|2025/05/02 18:45:01
0
Share
copy
Bitcoin ($BTC) is moving toward a massive price breakout as the latest market statistics indicate. Based on the new insights, Bitcoin is now trading above $95K, signifying a robust buying pressure while moving toward a breakout above the $100K mark. At the moment, $97,500 appears to be the imminent resistance zone to be tested.$BTC Hits $97,405, Aimed for $100KBitcoin ($BTC) witnessed a sharp rally after a strong base formed above $93,500, rising above the resistance level of $95,500. Subsequently, the positive momentum witnessed more strength, further raising the price to the local high level of $97,405.Currently, Bitcoin ($BTC) is reportedly consolidating gains just below the respective level. Additionally, the top crypto asset has maintained a notable position above its 100-hour simple moving average, a crucial technical indicator showing bullishness. The new market outlook of Bitcoin ($BTC) is marked by the formation of considerable support at $96,350. In line with this setup, purchasers have firm control over the market.If $BTC effectively closes above the resistance level of $97,500, it could soon reach $98,800. This price movement could clear the path for the psychological level of $100K. Based on this, the analysts are optimistic about the wider bullish alignment of Bitcoin for further price action as multiple indicators show.Technical Indicators Support Bullish Outlook for Continued Price ActionA key technical indicator in this respect is the hourly Moving Average Convergence Divergence (MACD), which is getting bullish pace. Additionally, the Relative Strength Index (RSI) is also above the neutral mark of 50, suggesting a rising buying interest.Overall, the present price action of Bitcoin reinforces the potential of a continued price upsurge. In the meantime, the market onlookers are watching the $97,500 resistance level to determine Bitcoin’s likely surge to the psychological $100,000 mark.

-- Price

--

You may also like

Morning Report | BitMine increased its holdings by 126,971 ETH last week; trader Eugene announced his exit from the crypto market

Overview of Important Market Events on June 8th

Wang Chuan: How can one not feel anxious after the neighbor Old Wang made thirty times profit by investing in storage stocks? (Seven) - A quarter-century cycle

In-depth analysis of the "reflexivity" bubble trap in storage stocks: Beware of the backlash from the bullwhip effect and the false narrative of high growth; do not let the short-term myth of wealth become a wealth abyss that cannot be recovered for 25 years.

Cryptocurrency CEXs are flocking to sell US stocks, and traditional brokerages are facing an "uninvited guest."

The major reshuffle has just begun.

$75 billion in foreign capital has fled, and South Korean retail investors have absorbed it all using leverage

Despite the accelerated migration of Korean funds from cryptocurrency to the stock market, the Korean market remains an important barometer for global cryptocurrency retail liquidity and recovery turning points.

Japan’s Three Megabanks Plan Joint Stablecoin Issuance in Fiscal 2026

MUFG, SMBC, and Mizuho reportedly plan to jointly issue fiat-pegged stablecoins in fiscal 2026, signaling Japan’s growing push into bank-led digital payment infrastructure.

Humanity Discloses H Token Dual-Chain Attack Details, With Losses on Ethereum and BSC Exceeding $36 Million

Humanity said the H token attack across Ethereum and BSC caused more than $36 million in losses after leaked ProxyAdmin keys enabled malicious contract upgrades and token minting.

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com