Bitcoin, the main cryptocurrency by market capitalization, approached the $105,000 stage earlier this Sunday, reaching an intraday excessive of $104,958 on the Bitstamp alternate.
There have now been a complete of 12 days the place the value of the main cryptocurrency has closed above the extremely necessary $100,000 mark.
It's very quiet
Even supposing Bitcoin is simply inches away from reclaiming the $100,000 stage, retail traders seemingly stay on the sidelines for now.
"Funding charges are additionally low relative to prior value peaks. After they come, they’re going to come very closely," he mentioned.
Fundstrat's Tom Lee has described this sort of silence as "unusual," on condition that Bitcoin has made important strikes over the previous few days.
It isn’t clear whether or not Bitcoin will be capable of maintain the present momentum and finally attain a brand new report excessive. As reported by U.Right now, Commonplace Chartered predicted
Within the meantime, chartist Todd Butterfield believes that Bitcoin is flippantly overbought following the latest surge, that means that the cryptocurrency may expertise a slight pullback.
Our Technometer is lastly overbought for #Bitcoin We search for a pullback right here…. #Wyckoff pic.twitter.com/coIx7Ljn95
— Todd Butterfield (@WyckoffOnCrypto) Could 11, 2025
A prescient Reddit submit
Within the meantime, a particularly prescient Reddit submit from 2011 predicting Bitcoin's value motion not too long ago emerged on social media.
A Reddit consumer (u/oldie101) made a submit on the r/MarkMyWords subreddit predicting that the cryptocurrency would be capable of hit $100,000 in 2025.
"Simply realized why I used to be getting notifications. No, I didn’t hodl. Purchased and bought as life moved on. Nonetheless hodl a bit, however might have been lengthy retired if I trusted myself way back," the consumer wrote a Reddit remark 4 days in the past.
