Is Bitcoin (BTC) Gearing Up for a Move Toward $110K?
By: bitcoin ethereum news|2025/05/12 04:00:14
0
Share
Bitcoin (BTC) trades at $104,200, up 1.00% with a $2.06T market cap. Support stands at $102K; a breakout above $105K could target $107.5K. Bitcoin (BTC) briefly reclaimed the $104,000 threshold today, posting a modest 1.00% intraday rise. At the time of writing, BTC trades at $104,200.09, securing a market capitalization of $2.06 trillion. This reflects a 0.73% increase in tandem with a strong surge in trading volume, now totaling $47.02 billion, up by nearly 20%. Bitcoin’s fully diluted valuation stands at $2.18 trillion, while the circulating supply has reached 19.86 million coins, closing in on its 21 million cap. The volume to market cap ratio of 2.32% indicates a significant uptick in trading activity relative to valuation. Will BTC Surge Further? After a brief consolidation phase, Bitcoin’s price action regained bullish momentum. A clear breakout pushed the asset past both the 9-period and 21-period moving averages. These moving averages currently rest at $103,832.21 and $102,847.27 respectively. The Relative Strength Index (RSI) presently reads 63.84, just beneath the key 70 threshold. Its smoothed average aligns precisely at 70.00, signaling that the rally may have cooled just shy of overbought conditions. If RSI breaks higher again, it could reignite buyer interest. Conversely, a slide below 60 might invite selling pressure. Support rests near $102,000 where the 21-period moving average converges with previous consolidation. A breakdown under this level may send BTC toward the $100,000 psychological threshold or lower. However, resistance around $105,000 currently caps further gains. If this ceiling is breached, BTC could aim for $107,500 and possibly $110,000. The Chaikin Money Flow (CMF) reveals a positive bias, indicating continued capital inflows into Bitcoin. Although not extremely elevated, its positioning affirms underlying bullish interest in the asset. The moving average crossover acts as a crucial technical signal. The upward cross of the short-term average over the long-term reflects growing buyer dominance. Historically, this pattern aligns with intermediate rallies. Highlighted Crypto News Today Can Pudgy Penguins (PENGU) Recover After an 8% Drop? Source: https://thenewscrypto.com/is-bitcoin-btc-gearing-up-for-a-move-toward-110k/
You may also like
In the name of charity, for the benefit of the family: How the Trump family turned charity into profit?
This set of "beautiful rhetoric and value return to one's own people" has not stopped at charitable foundations; it has now almost been transferred intact to American Bitcoin.
Will Gold Break $4,500 After Tonight's Fed Decision? What XAUT and PAXG Traders Need to Know
The Federal Reserve announces its June rate decision tonight. Could gold break $4,500 next? Explore the latest gold price prediction, key Fed scenarios, and what they mean for XAUT and PAXG traders.
Cursor, why did you get on Musk's spaceship?
SpaceX set a record with its IPO, spending a staggering $60 billion to acquire the popular AI programming unicorn Cursor just four days later. Musk is using the ultimate puzzle of "super computing power + top coding engine" to propel the market value skyrocketing, surpassing Amazon in one fell swoop...
Morning Report | DeepSeek completes over $7 billion in financing, with a valuation exceeding $50 billion; Musk's personal wealth has surpassed the total market value of Bitcoin
Overview of Important Market Events on June 16
SharpLink CEO: How to understand that Ethereum developers have just surpassed 1 million?
The most important question in the cryptocurrency industry is not which chain is the fastest, but rather where top builders choose to build in the long term. Ethereum has just surpassed one million cumulative developers; what does this number mean?
Morning Report | MiCA grace period expires on July 1; Kalshi's trading volume in the first week of the World Cup breaks $5.1 billion, setting a record
Overview of Important Market Events on June 15
The foundation of SpaceX's trillion-dollar valuation: Who is dividing Musk's annual capital expenditure of tens of billions?
SpaceX Supply Chain Revealed: The Invisible Gold Mine Behind the Trillion-Dollar "Space Dream," from Nvidia's Computing Power Monopoly to China's Sole Supplier of Special Materials, these overlooked water-selling talents are the true wealth creation engine.
How to exit after asset tokenization?
Currently, three models have emerged, aimed at providing instant exit routes for tokenized real-world assets. Their differences lie in: who holds the funds required for exit, how efficiently the funds operate, and the extent to which this model can be scaled across different asset types.
The stablecoin positioning battle escalates: When compliance is just a ticket to entry, will USD1 become the biggest winner?
How does the GENIUS Act reshape the stablecoin landscape?
A16Z: The sun bears witness, SpaceX is worth 7.5 trillion
A deep analysis of Musk's ultimate grand vision: how SpaceX, xAI, and Tesla are deeply intertwined, using space AI data centers and Starships to gradually turn the sci-fi fantasies of Mars colonization and multi-planetary civilization into reality.
Mergers and acquisitions in the cryptocurrency market are exceptionally active
Behind the rise in mergers and acquisitions is a sluggish financing market, declining project valuations, and increased pressure for startup teams to exit. However, it also indicates that the cryptocurrency industry has not lost its capital vitality, but is completing resource reorganization in anot...
Concerns Behind the Binance Customer Service Controversy
As the user base expands to the scale of Binance today, relying on the personal efforts of the founder and a few employees to fill process gaps has become an unsustainable arrangement.
SpaceX Stock Prediction After the IPO: Can SPCX Reach $200 Before QQQ Inclusion?
SpaceX stock has become one of the hottest trades of 2026. Can SPCX reach $200 before QQQ inclusion? Discover the latest SpaceX stock prediction, analyst targets, Bitcoin exposure, and the key catalysts that could move SpaceX stock after its historic IPO.
Congratulations to Carl Moon on His Historic Ferrari Challenge Le Mans Podium Triumph
Crypto influencer and racing enthusiast Carl Moon finished third in the Ferrari Challenge Le Mans Coppa Shell class, marking his best result of the year. As his racing partner and sponsor, WEEX celebrates this remarkable achievement and continues to lead crypto’s journey beyond boundaries, uniting the innovation of digital assets with the passion of motorsport.
Can the CLARITY Act Become Law by July 4? Everything You Need to Know About the Final Battle
The CLARITY Act has cleared a major Senate hurdle, but the hardest battle is still ahead. With the July 4 deadline approaching, can the White House finally pass its biggest crypto regulation bill? Find the clues in our exclusive analysis below.
France vs Senegal World Cup 2026: Mbappe’s New Era Begins Against a Historic Rival
France vs Senegal World Cup 2026 preview: Can Mbappe lead France past Senegal after the shocking 2002 World Cup defeat? Full team news, predicted lineups, key battles, and WEEX's exclusive match prediction.
What is the connection between Huang Zheng of Pinduoduo and blockchain?
From Pinduoduo's "reverse insurance" to blockchain's smart contracts, this article explains how Huang Zheng's underlying logic uses "certainty" rules to reshape the flow of wealth for ordinary people.
Morning Report | Prediction market platforms like Kalshi and Polymarket jointly sue Kentucky over 14.25% trading tax; Bridgewater founder discusses decision-making in the AI era: principled thinking should run parallel to AI, human insight remains irre...
Overview of Important Market Events on June 15
In the name of charity, for the benefit of the family: How the Trump family turned charity into profit?
This set of "beautiful rhetoric and value return to one's own people" has not stopped at charitable foundations; it has now almost been transferred intact to American Bitcoin.
Will Gold Break $4,500 After Tonight's Fed Decision? What XAUT and PAXG Traders Need to Know
The Federal Reserve announces its June rate decision tonight. Could gold break $4,500 next? Explore the latest gold price prediction, key Fed scenarios, and what they mean for XAUT and PAXG traders.
Cursor, why did you get on Musk's spaceship?
SpaceX set a record with its IPO, spending a staggering $60 billion to acquire the popular AI programming unicorn Cursor just four days later. Musk is using the ultimate puzzle of "super computing power + top coding engine" to propel the market value skyrocketing, surpassing Amazon in one fell swoop...
Morning Report | DeepSeek completes over $7 billion in financing, with a valuation exceeding $50 billion; Musk's personal wealth has surpassed the total market value of Bitcoin
Overview of Important Market Events on June 16
SharpLink CEO: How to understand that Ethereum developers have just surpassed 1 million?
The most important question in the cryptocurrency industry is not which chain is the fastest, but rather where top builders choose to build in the long term. Ethereum has just surpassed one million cumulative developers; what does this number mean?
Morning Report | MiCA grace period expires on July 1; Kalshi's trading volume in the first week of the World Cup breaks $5.1 billion, setting a record
Overview of Important Market Events on June 15
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com
