Bitcoin (BTC) price is approaching its ATH after pushing past the key $107k resistance level over the past 24-hours. The leading crypto is now trading less than 2% below its record level of $109,114, set on January 20, 2025. That milestone was reached during President Trump’s inauguration, marking a significant peak in market optimism.
Early this April, the BTC price fell to $74,000 because of global concerns over Trump’s tariff plan for certain trade partners. At the same time, the administration started to ease its hardline approach and hinted at possible agreements, so prices have now risen steadily. This has helped ease the broader market and caused more bullishness.
As Bitcoin rises, Ethereum (ETH) and Solana (SOL)are also seeing major gains. The level of confidence has increased as major assets show signs of steady upward movement. The move above $107k shows that the bull market is still going strong, with buyers trying to reach a new record. Bitcoin seems to be trending up in hopes of reaching a new high beyond what was seen in January.
Bitcoin Price Surpasses Key Resistance, Nears New High
According to Captain Faibik, the price of Bitcoin ended the day at its highest daily close ever: $106,800. Breaking $106,000 meant the bullish momentum was enough to push the price higher. The analyst noted that Bitcoin is almost at a new all-time high, showing stable rising prices.
Additionally, Captain Faibik indicated that Bitcoin is moving toward its midterm target of $109,000. That suggests the cryptocurrency may soon rise to new highs and keep the market in good spirits. Things are looking positive as Bitcoin moves upwards.
Bitcoin Whale Boosts $135M Long Position
Lookonchain records indicate that one Bitcoin whale has acquired more BTC, using 40 times leverage for such a large buy. At present, this trader owns 1,250 BTC worth approximately $135 million.
The whale is making an unrealized profit that is higher than $1 million. Bitcoin’s steadily high supply points to strong belief in its value and lots of active trades.
How High Can BTC Price Go In May?
BTC price continues to rise, currently trading at about $107,793, with a 3% surge in the past 24-hours. The market shows a steady upward trend with solid momentum above key resistance at $105,000. This bullish move follows a steady increase over recent weeks.
The RSI at 66 points to rising strength, but it is still below levels that signal too much buying pressure. At the same time, the MACD marks this uptrend as the MACD line goes over the signal line and the histogram bars move up. Accordingly, the market appears to be moving up and getting more investors interested in buying assets.
Major resistance points to track are found at $110k and $115k. Should the price of BTC stay strong, these levels could be reached soon. If Bitcoin can’t keep above the $105,000 point, the recent gains may falter.
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