9 hours ago
Key points:
Bitcoin continues to onslaught a cardinal absorption portion beneath all-time highs.
“Parabolic” BTC terms speech begins to resurface arsenic bulls clasp six figures aft the Wall Street open.
Signs of profit-taking are expanding amid the highest prices since January.
Bitcoin (BTC) is attracting “parabolic” terms targets arsenic bulls proceed to clasp six figures connected May 9.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewBTC terms successful enactment for “crazy numbers”
Data from Cointelegraph Markets Pro and TradingView shows hardly immoderate consolidation taking spot connected BTC/USD implicit the past 24 hours.
The brace deed $104,332 connected Bitstamp, marking its highest since the extremity of January and a wide departure from the dilatory downtrend successful spot for overmuch of 2025.
Reacting, marketplace participants person begun to reconstruct their religion successful the broader Bitcoin bull market.
“November 2024 monthly candle was the breakout awesome connected semipermanent charts,” fashionable economist Aksel Kibar told X followers successful his latest post.
An accompanying illustration compares November 2024 to akin “breakout” events successful the past, with Kibar reiterating his existing $137,000 target.
BTC/USD 1-month chart. Source: Aksel Kibar/XOthers, however, person acold loftier expectations for BTC terms enactment next. In particular, speech of “parabolic” upside has returned this month.
— Mister Crypto (@misterrcrypto) May 1, 2025“Bitcoin is going exponential,” crypto entrepreneur and capitalist Jason Williams summarized arsenic $100,000 returned.
Trader and expert Matthew Hyland joined those forecasting caller all-time highs successful Q2 successful his latest video update.
$160,000 oregon different “crazy numbers,” helium said, could travel into play if bulls enactment successful power and a cardinal starring indicator, the comparative spot scale (RSI), supports further upside.
“I really bash deliberation that determination is simply a precocious accidental that Bitcoin volition extremity up breaking done these highs,” helium concluded.
#BTC & #ETH Update: pic.twitter.com/ovRS9pN0aj
— Matthew Hyland (@MatthewHyland_) May 9, 2025
Bitcoin halts advancement astatine stubborn resistance
On shorter timeframes, fashionable trader Skew sounded the alarm implicit profit-taking being successful afloat plaything astatine $103,000, itself a cardinal semipermanent absorption zone.
Related: Bitcoin eyes sub-$100K liquidity — Watch these BTC terms levels next
“Starting to spot immoderate profits taking here, apt from a ample trader. Passively selling BTC into terms present & closing retired longs,” helium explained connected the day.
“Logically makes consciousness fixed BTC is trading astir HTF Supply & Resistance $103K - $104K.”
BTC/USD vs. S&P 500 1-day chart. Source: Cointelegraph/TradingViewUS banal markets were level astatine the Wall Street open, with Skew suggesting their behaviour whitethorn spill implicit into crypto.
“In presumption of existent underlying flow, marketplace remains correlated to tradfi truthful support an oculus connected show contiguous into close,” helium added.
This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.
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