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  • Bitcoin Surpasses $103K as Bullish Signals Point to $130K–$160K Rally
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Bitcoin Surpasses $103K as Bullish Signals Point to $130K–$160K Rally

Dennis Gatheca 9 May 2025
Bitcoin progressing
  • Bitcoin has surged past $103,000, driven by bullish technical patterns, strong options market activity, and favorable regulatory shifts.
  • With short positions under pressure and analysts targeting $130,000–$160,000, momentum continues to build toward new all-time highs.

Bitcoin (BTC) has pushed above the $103,000 mark, gaining nearly 4% in just 24 hours and strengthening optimism of a march toward new all-time highs. Bullish indicators, trading patterns, and supportive regulations suggest the crypto market is set for continued upward momentum.

BITCOIN  /U.S DOLLAR PRICE CHART FOR 24 HOURS PERIOD

Options Market Reinforces Bullish Sentiment

Traders are showing growing confidence, with 97% of the $8.3 billion in Bitcoin put options now set to expire worthless at current price levels. This collapse in bearish bets threatens $205 million in liquidations for short positions, exposing the vulnerability of those betting against BTC.

Optimistic strategies like bull put spreads and bull call spreads are dominating Deribit’s options market. These positions indicate strong expectations for further gains heading into the May and June expiries.

A move beyond $105,000 could trigger a wave of short covering, as traders rush to exit losing positions—potentially fueling an even sharper rally.

ALSO READ:SUI Price Analysis: SUI Skyrockets by Over 20%- $5 possible this May 2025?

Regulatory Shifts Add Fuel to Bitcoin’s Momentum

Bitcoin’s rally isn’t just chart-driven. Political and regulatory support is helping power price action:

  • President Trump has suggested a UK trade deal that could remove a 10% import duty.
  • Missouri’s Bill 594 proposes the elimination of capital gains tax on Bitcoin.
  • U.S. regulators like the OCC and FDIC now allow institutions to trade and hold cryptocurrencies.
  • States are drafting laws to establish strategic Bitcoin reserves, giving the asset a stronger institutional backing.

Bitcoin Technical Breakout Points Toward Higher Highs

On the technical front, Bitcoin has broken above a long-term descending trendline while bouncing off the lower Bollinger Band—moves that historically signal large rallies. Analysts now project upside targets between $130,000 and $160,000, a potential increase of over 50% from current levels.

With the Crypto Fear & Greed Index at 65 (“Greed”), sentiment has clearly shifted in favor of the bulls. Short sellers have already taken a hit, with $96 million in recent liquidations removing downward pressure on BTC’s price.

As Bitcoin secures ground above $103,000, traders are focused on $105,000 and the potential for a new all-time high above $109,354 in the near term.

ALSO READ:XRP or RLUSD: Which Asset Will Drive Ripple’s Payments System?

DISCLAIMER:
The views and opinions expressed herein are solely those of the author  and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.

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Previous: SUI Price Analysis: SUI Skyrockets by Over 20%- $5 possible this May 2025?
Next: Ethereum Not F**ng Around No More! ETH Price Shoots by Over 30% in the last Day

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