Is Bitcoin (BTC) Climb Past $105K Just the Start of a Bigger Bull Run?
The post Is Bitcoin (BTC) Climb Past $105K Just the Start of a Bigger Bull Run? appeared on BitcoinEthereumNews.com.
Bitcoin (BTC) trades at $105,177, up 2.10% with a $2.08T market cap. RSI at 71.06 suggests strong but overbought momentum. Bitcoin (BTC) climbed above $105,000 on May 18, recording a 2.10% daily gain and reaffirming strong bullish momentum. The global crypto market cap rose 2.10% to $3.34 trillion, driven by rising investor confidence. BTC now trades at $105,177.36 with a market cap of $2.08 trillion, reflecting a 1.83% increase over the past 24 hours. Its 24-hour trading volume surged to $36.31 billion, marking an 11.23% rise. The volume-to-market-cap ratio stands at 1.74%, indicating healthy liquidity conditions. Will BTC Surge Further? Currently, Bitcoin’s circulating supply matches its total supply at 19.86 million, with a maximum cap of 21 million BTC. Demand has intensified as institutional investors and spot Bitcoin ETFs continue accumulating nearly four times the amount of newly mined BTC. These inflows have rapidly tightened the supply. Moreover, over five months, MicroStrategy alone acquired $10 billion in Bitcoinsignalling, illustrating the growing institutional appetite and signaling a deeper corporate shift toward digital assets. On the technical front, Bitcoin maintains a solid uptrend structure. However, the daily chart shows price holding firm above the 9-day and 21-day moving averages, which stand at $103,893.57 and $99,857.90, respectively. The bullish crossover that occurred mid-April continues to signal upward continuation. These moving averages now act as dynamic support zones. The RSI (Relative Strength Index) prints at 71.06, hovering just above the overbought threshold of 70, suggesting strong buying momentum but flashing caution for potential short-term pullbacks. The RSI average, at 70.08, aligns closely, reinforcing current trend strength. If momentum holds, Bitcoin could extend gains toward the psychological barrier of $110,000. However, if RSI weakens, a correction toward $100,000 support may emerge. The nearest resistance lies at $106,000. A clean breakout above it could open the…
Filed under: News - @ May 19, 2025 5:25 am