Bitcoin Price Jumps 3.1%, Eyes All-Time High Soon

By: cryptosheadlines|2025/05/07 21:45:02

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com After weeks of waiting, once again Bitcoin is now seems to be approaching the mark of $100,000, and according to data from CoinMarketCap, its price grew around 3.10% and is now exchanging hands at $96,993. The sudden bullishness in prices has been closely followed by market capitalization, which surged 3.07%, reaching $1.92 trillion, and the trading volume has reached $32.38 billion with an addition of 43.18%.Market watchers argue a potential retest of higher levels, possibly reaching $100,299 if BTC holds above $95,650 support and bullish momentum persists. This surge in Bitcoin prices is usual, or is something big approaching? As per the data available on TradingView, over the past 48 hours, a major dominance has been observed in the trading volume of Bitcoin, with its prices breaking the nearest resistance levels, forming higher highs and higher lows, a classic uptrend signal.With back-to-back bullish signals, it has succeeded in breaking 20, 50, 100, and 200-day exponential moving averages, including other crucial moving averages.Source: TradingViewBitcoin has reclaimed the $96,900 zone after bouncing from below $92,000, marking a robust upwards movement of over 5% in a quite short span.As of now, $96,678 is the 100-day exponential moving average, and $96,237 the 200-day EMAs act as a strong support. As long as price continues to trade above these marks, a further uptrend is expected in Bitcoin trading prices.In coming sessions, a retest of the $98,000 mark is likely expected to direct Bitcoin towards a psychological resistance at $99,000, and if broken, there is no doubt it might soon climb above $100,000 and further towards the much-awaited mark of $112,000.If positive catalysts appear, hitting $100k–$105k is a more likely scenario; however, if resistance holds, a drop to $91,000–$93,000 is still possible, yet without a strong outside force, the likelihood of a new all-time high by May 12 appears slim given the contradicting indications.Key insights of Bitcoin market cap & dominance As per available data set, the market capitalization of Bitcoin consistently rose from around $1.3 trillion in early April to approximately $2 trillion by the end of the month.Source: TradingView In the past 7 days, the market cap of Bitcoin is up by 2.89%, in 30 days the cap grew around 23.81%, and in the year-to-date frame it grew nearly 4.14%.When writing, Bitcoin is dominating 65.23% of the wider market, and its dominance has surged roughly 1.22% in a week. A growth of 3.01% has been observed in the monthly time frame, and since the beginning of this year, till writing, BTC dominance grew 12.32%.Source: TradingView!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';n.queue=[];t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window, document,'script','https://connect.facebook.net/en_US/fbevents.js');fbq('init', '368501627666482');fbq('track', 'PageView');Source link

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