Bitcoin price increased this week, reaching an important resistance level of $ 104,000 for the first time since February.
Bitcoin (BTC) recovered by almost 40% from the April minimum, causing a wider rally in Altcoin. Bitcoin market capitalization increased after $ 2 trillions, while the total market capitalization of crypto -capitalization increased to 3.25 trillion dollars.
Several factors feed Bitcoin rally. Firstly, optimism is growing that the trade tension between the United States and other large economies can weaken. The United States has already concluded a deal with Great Britain, and this weekend they should meet with Chinese colleagues.
The end of the current tariff regime will be a positive catalyst for both promotions and cryptocurrencies, since it will weaken problems with the recession, reduces inflationary pressure and increase the likelihood of reducing the rates of the federal reserve system.
In addition, analysts updated their forecasts of bitcoins. In a recent note, Standard Chartered reported that his previous target of $ 120,000 was too conservative. The founder of Cryptoquant Ki Young Ju admitted that he was wrong to call the end of the bull cycle. He expects BTC there will be more growth, helping a growing institutional demand.
Two months ago, I said that the bull cycle was over, but I was mistaken. #Bitcoin Share Dative weakens, and huge tributaries pass through ETF.
In the past, the Bitcoins market was quite simple. The main players were old whales, miners and new retail investors, mainly … Pic.twitter.com/on4N6VNC0S
– Ki Young Ju (@ki_youung_ju) May 9, 2025
Meanwhile, the Spot Bitcoin ETF attracted an influx of more than $ 40 billion from January 2024, and only this month more than $ 1.7 billion was added. Companies such as Semler Scientific, Strategy and Metaplanet continued to accumulate BTC through these ETFs.
Bitcoin the price can continue to grow, since investors become greedy. The Crypto -Strach and greed index jumped into the zone of greed 70. Historically bitcoins and other altcoins succeed when investors are greedy.
Technical analysis of Bitcoin prices
The weekly schedule shows that BTC Bottomed is $ 79 510 in April in April and has currently published five weeks in a row. It remains above the 100-week suspended sliding average, a sign that the bulls continue to dominate the market.
Bitcoin is now, it seems, is ready to repeat his record of $ 109,400. Both with the relative force index (RSI), and with the MACD trend up, the impulse prefers bulls.
The breakthrough above this level would confirm the bull -continued continuation and potentially advance BTC to the next psychological milestone of $ 110,000.
