Bitcoin is once again nearing a major milestone, trading above the $102,000 level and inching closer to breaking its all-time high. As of May 9, 2025, Bitcoin is showing strong bullish momentum, with steady gains over the past few days. The recent push above the $100,000 mark highlights growing investor confidence and could signal the beginning of a new upward trend.
Technical patterns show that Bitcoin has been forming consistent higher lows since mid-April, a clear sign that buyers are in control. The 9-day simple moving average currently sits near $96,000, and BTC has remained above this level, confirming short-term strength in the market. Momentum indicators also support the rally, with the Relative Strength Index hovering around 69, a level that suggests strong demand but also hints at possible near-term consolidation.
One of the most important price zones to watch is between $99,500 and $100,200. This region is acting as a major resistance zone, and a daily close above this level would likely open the door for further gains. Analysts believe that a breakout could carry Bitcoin toward the $105,000 to $110,000 range in the weeks ahead. On the flip side, if the price fails to hold above $100,000, there may be a short-term pullback toward the $94,000 to $95,000 support area.
Apart from technical indicators, global and domestic factors are also helping boost sentiment. In the United States, the central bank has chosen to keep interest rates on hold, which is encouraging for risk assets like cryptocurrencies. Meanwhile, state-level initiatives, such as the proposal in Arizona to hold crypto as part of government reserves, signal long-term confidence in digital assets. These developments are being closely followed by investors around the world, including in India.
For Indian crypto users, this renewed optimism presents an opportunity to reassess their investment strategy. The current environment favors long-term holding and strategic buying. As Bitcoin tries to establish a strong base above the $100,000 mark, it could signal the beginning of a fresh bull phase for the broader crypto market.
Also Read: Bitcoin hits 100k For the first time in history
Looking ahead, Bitcoin is expected to trade between $95,000 and $105,000 during May, with a bullish outlook as long as it holds above key moving averages. If momentum continues, a weekly close above $100,000 could lead to accelerated gains in the second half of the month. However, some volatility is expected as traders take profits near key resistance levels.
In conclusion, Bitcoin is not just pushing to break its old record—it is testing investor belief in its long-term potential. For those in India exploring digital assets through platforms like Unocoin, this could be a significant time to stay informed, plan systematically, and take advantage of opportunities as the market evolves.
Stay cautious, stay updated, and stay invested.
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Disclaimer: Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).
