As of May 5, 2025, Bitcoin (BTC) is trading at approximately $94,027, experiencing a slight decline of 1.5% over the past 24 hours. The price has fluctuated between an intraday high of $95,747 and a low of $93,804. This movement comes amid broader market uncertainties and profit-taking activities ahead of the upcoming Federal Reserve interest rate decision.
In a significant development, former President Donald Trump has reaffirmed his pro-crypto stance, stating that cryptocurrencies have remained resilient during market downturns and are now widely embraced. This follows his earlier executive order establishing a Strategic Bitcoin Reserve, aiming to position the United States as a global leader in cryptocurrency adoption.
Additionally, Marathon Digital Holdings (MARA) reported a 5.5% increase in their energized hash rate to 57.3 EH/s and increased their Bitcoin holdings to 48,237 BTC as of April 2025.
The BTC/USD 4-hour chart from BITSTAMP illustrates a pattern of bullish reversals following price dips, marked by green arrows and circles at key swing lows. This suggests a recurring structure of higher highs and higher lows, indicating strong bullish momentum after corrections. The price is approaching a significant resistance level at $108,027, hinting at a potential breakout if current trends continue.
This is not financial advice. Always do your own research and manage risk accordingly.
In a significant development, former President Donald Trump has reaffirmed his pro-crypto stance, stating that cryptocurrencies have remained resilient during market downturns and are now widely embraced. This follows his earlier executive order establishing a Strategic Bitcoin Reserve, aiming to position the United States as a global leader in cryptocurrency adoption.
Additionally, Marathon Digital Holdings (MARA) reported a 5.5% increase in their energized hash rate to 57.3 EH/s and increased their Bitcoin holdings to 48,237 BTC as of April 2025.
The BTC/USD 4-hour chart from BITSTAMP illustrates a pattern of bullish reversals following price dips, marked by green arrows and circles at key swing lows. This suggests a recurring structure of higher highs and higher lows, indicating strong bullish momentum after corrections. The price is approaching a significant resistance level at $108,027, hinting at a potential breakout if current trends continue.
This is not financial advice. Always do your own research and manage risk accordingly.
Trade active
"Bitcoin Holds Bullish Structure – Can Pro-Crypto Sentiment Fuel a Move Toward $108K?"Bitcoin (BTCUSD) is maintaining its bullish structure on the 4H chart, with consistent higher lows and strong rebounds from marked demand zones. Price is currently consolidating near $94K–95K, showing signs of momentum building for another leg up.
Key resistance remains at $108K. If price holds above
92K and breaks above recent highs, we could see continuation.Market Catalyst to Watch:
Recent statements from former President Trump praising crypto resilience, along with the establishment of a Strategic Bitcoin Reserve, may influence market sentiment and investor confidence. This fundamental support aligns with current technical strength.
Technical Focus:
Support zone: $91,500 – $93,000
Resistance: $97,500 then $108,000
Structure: Bullish – Higher Lows
Volume trend: Watch for breakout confirmation
Bias: Bullish continuation (not financial advice)
Note
Note for Traders:Bitcoin is holding its bullish structure with strong recovery from recent lows. As price approaches resistance, traders should watch for a clean breakout above $97.5K with volume confirmation.
Stay mindful of broader sentiment shifts—recent pro-crypto remarks from influential figures like former President Trump may contribute to bullish momentum.
Always manage risk. A drop below $91K could invalidate this setup in the short term.
This is not financial advice—conduct your own research and use proper risk management.
Trade closed: target reached
As of May 7, 2025, Bitcoin (BTC) is trading at approximately $96,845, approaching the $97,000 mark. This movement aligns with our previously identified bullish structure, where BTC consistently formed higher lows and rebounded from key demand zones. The current price action suggests that BTC is nearing our projected resistance level of $97,500. This level is critical; a decisive breakout above it, accompanied by strong volume, could pave the way toward the next target at $108,000.
Recent developments, such as former President Trump's reaffirmation of his pro-crypto stance and the establishment of a Strategic Bitcoin Reserve, have bolstered market sentiment. Additionally, renewed optimism over potential reductions in trade tensions between the U.S. and China has contributed to the positive momentum in the crypto market.
Key Levels to Monitor:
Support Zone: $91,500 – $93,000
Immediate Resistance: $97,500
Next Target: $108,000
Note for Traders: Bitcoin is maintaining its bullish structure with strong recovery from recent lows. As price approaches resistance, traders should watch for a clean breakout above $97.5K with volume confirmation.
Stay mindful of broader sentiment shifts—recent pro-crypto remarks from influential figures like former President Trump may contribute to bullish momentum.
Always manage risk. A drop below $91K could invalidate this setup in the short term.
This is not financial advice—conduct your own research and use proper risk management.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.