Bitcoin, the main cryptocurrency by market capitalization, approached the $105,000 degree earlier this Sunday, reaching an intraday excessive of $104,958 on the Bitstamp change.
There have now been a complete of 12 days the place the value of the main cryptocurrency has closed above the extremely vital $100,000 mark.
It is very quiet
Although Bitcoin is simply inches away from reclaiming the $100,000 degree, retail traders seemingly stay on the sidelines for now.
“Funding charges are additionally low relative to prior value peaks. Once they come, they will come very closely,” he stated.
Fundstrat’s Tom Lee has described this sort of silence as “unusual,” on condition that Bitcoin has made vital strikes over the previous few days.
It isn’t clear whether or not Bitcoin will be capable of maintain the present momentum and ultimately attain a brand new report excessive. As reported by U.In the present day, Commonplace Chartered predicted
Within the meantime, chartist Todd Butterfield believes that Bitcoin is flippantly overbought following the current surge, which means that the cryptocurrency would possibly 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 put up
Within the meantime, a particularly prescient Reddit put up from 2011 predicting Bitcoin’s value motion lately emerged on social media.
A Reddit person (u/oldie101) made a put up 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 offered as life moved on. Nonetheless hodl a bit, however might have been lengthy retired if I trusted myself way back,” the person wrote a Reddit remark 4 days in the past.
