Bitcoin Bulls Are Back! Will $107K Be Their Next Target?

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  • Bitcoin‘s got a big ol’ grin on its face, with the dip to $93.4k just a tiny blip in the road.
  • The liquidation heatmap’s showing that BTC’s about to get sucked upwards by the mighty magnetic zones.

In the early, misty hours of May 8th, Bitcoin [BTC] reached a sky-high $99.8k, only to blink at the $100k mark like it was a mirror. Oops, not quite there yet!

And what caused this? Well, the Federal Reserve decided to keep things chill with interest rates after the economy had a bit of a “well, I’m doing fine, thanks” moment. Despite some risks, they reckon the economy’s “in solid shape,” which, sure, sounds reassuring.

Technical analysis suggests that BTC might just be ready to make a break for its all-time high of $108.7k. It’s looking pretty bullish, but don’t get too excited—there’s still room to go up without overheating (for now, anyway).

Bitcoin Investors Are Setting Their Sights on a Massive $100k+ Breakout

Flashback to February, when Bitcoin plummeted under the sacred $100k mark, dipping all the way to $74.5k by early April. Fast forward to now, and it’s rocketing upward like it just discovered gravity.

For the last two weeks, Bitcoin’s been hanging out in a little range, but now it’s back to breaking past the local highs at $97k like it owns the place.

The On-Balance Volume (OBV) has been on a steady uptrend for the past month, almost like a quiet giant stirring awake. This, my friends, is a big, bullish sign with heavy buying pressure behind it.

The Money Flow Index (MFI) is chilling at 70, showing some solid momentum, but hasn’t crossed into “Oh dear, that’s a bit much” territory. And for now, there’s no bearish divergence to worry about—unless, of course, Thursday decides to throw us a curveball.

The liquidation heatmap from the past 3 months is showing some juicy clusters of liquidation levels heading towards Bitcoin’s inevitable race for a new all-time high. The $100k-$107k zone? It’s practically begging to be hit.

Translation: Traders, get ready for the possibility of a new ATH, and hey, it might just blow past $107k.

And let’s not forget the $91.6k-$92.3k range, which could be an important liquidity cluster. Its size and proximity to the overhead levels make it a prime short-term target.

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2025-05-09 05:50