Crypto news

Bitcoin’s Thrilling Surge: Is $100K Within Reach or Is It Just a Mirage?

BBG News

Ah, Bitcoin – always the drama queen of the financial world. After a flurry of wild price swings, it’s now sitting pretty around $97,000. Bulls, ever so predictable, have decided it’s their time to shine, pushing BTC back toward its previous cycle highs, like a nostalgia-driven pop star trying to make a comeback. After months of sulking under selling pressure and macroeconomic uncertainty, Bitcoin’s price structure is suddenly sporting a bullish grin across multiple timeframes. And the traders, oh the traders, are keeping a very close eye on the $98K–$100K resistance zone, as if it’s the final season of their favorite reality show.

And here we have the Delta metric, an obscure yet critical indicator, strutting its stuff. According to CryptoQuant, Delta measures how far Bitcoin’s market cap has surpassed the price at which the coins last changed hands. It’s basically a crystal ball, but with less mystical charm. Historically, when Delta hits 170%, it’s time for investors to cash out – but for now, it’s still a few steps shy of that ominous level. So, brace yourselves for what’s about to come.

With Bitcoin climbing ever closer to new highs, Delta may be a canary in the coal mine, signaling when those pesky profit-takers will appear. For now, the bulls hold the reins – but as history teaches us, when things get too hot, it’s only a matter of time before the inevitable correction knocks the party down a peg.

Bitcoin Metrics Warnings: Time to Sell or Just a False Alarm?

Bitcoin, ever the tease, is now attempting to conquer the mighty $100,000 mark – it’s almost like a soap opera where every episode is an agonizing cliffhanger. After surging to $97K, the bulls are showing the first signs of fatigue, and some analysts are already predicting a retrace, because, of course, nothing says ‘bullish’ like predicting a fall. But fear not, dear investors! The market is still holding strong above the $92,000 support zone, which, like a loyal sidekick, has consistently provided a safe haven for Bitcoin. If this level holds, it could set the stage for yet another heroic attempt at breaking through that elusive $100K ceiling.

The macroeconomic environment, naturally, remains about as stable as a soap dish in an earthquake. Ongoing US-China trade negotiations continue to keep markets on edge, influencing investor sentiment like a reality show with too many plot twists.

Adler, a rather serious-sounding individual, has brought attention to the Delta metric once again. He suggests that when Delta reaches 170%, that’s the signal for Bitcoin investors to take their profits and make a swift exit. As of now, Delta is sitting at a modest 112%, but should it rise by 58%, brace yourselves for the next wave of selling pressure – as if on cue.

Still, Bitcoin’s momentum is undeniably bullish. With corrections possibly behind us (until the next one, of course), the market structure seems to favor continuation – provided that the $92K support level doesn’t suddenly start behaving like a drunken sailor. If the bulls manage to breach $98K and reclaim the $100K mark, we might just witness a new expansion phase. But with Delta rising and macro risks lurking, it’s anyone’s guess as to what’s coming next. So keep those fingers crossed, folks, as summer approaches.

BTC Testing Critical Resistance: Will $100K Break or Hold Strong?

Bitcoin, currently lounging at $97,088, is enjoying a little post-consolidation bump. It’s testing the fabled $100,000 resistance – a number so elusive it might as well be the golden ticket. The daily chart shows that Bitcoin is once again forming higher lows, maintaining bullish momentum, and generally acting like it owns the place. The 200-day simple moving average (SMA) at $90,699 and the 200-day exponential moving average (EMA) at $86,514 have both been reclaimed, giving Bitcoin a shiny gold star for effort.

This rally is a pivotal moment for Bitcoin, like the final round of a high-stakes game show. The price is testing the upper bounds of a multi-month range between $90K and $103.6K. If it can close above $100K, then – and only then – we might see a breakout, propelling Bitcoin toward its former glory at $103,600, or perhaps beyond. The volume, however, remains steady, and with resistance at $100K proving to be a worthy adversary, traders should be on the lookout for a potential rejection or just an all-out exhaustion.

Ultimately, Bitcoin remains in bullish territory as long as it holds above those all-important 200-day averages. With global markets stabilizing and on-chain metrics showing some promise, a breakout above $100K could usher in a thrilling new chapter for Bitcoin. So buckle up – the ride’s far from over.

Read More

2025-05-08 06:30

Previous post Adrian Cheng’s Cultural Vision of Hong Kong
Next post Jon Hamm & John Slattery Reunite in Wild R-Rated Hollywood Comedy!