Bitcoin Nears Critical $98K Resistance Amid Bullish Sentiment
Bitcoin is currently testing a pivotal resistance level NEAR $98,000, facing a convergence of technical barriers including a descending trendline, the 0.618 Fibonacci retracement, and a historical point of control. The rally, initially driven by a short squeeze, now grapples with increasing long positions as funding rates turn positive across major exchanges. Derivatives activity indicates a surge in bullish sentiment, though the sustainability of this upward momentum remains uncertain.
Bitcoin Tests Key Resistance Amid Rising Long Exposure
Bitcoin’s price faces a critical test near the $98,000 level, encountering stiff resistance at a confluence of technical markers—including a descending trendline, the 0.618 Fibonacci retracement, and historical point of control. The rally, initially fueled by a short squeeze, now contends with mounting long positions as funding rates turn positive across major exchanges.
Derivatives activity suggests growing bullish sentiment, but the sustainability of this momentum remains uncertain. Elevated funding rates often precede corrections when Leveraged longs become overcrowded. Market structure now hinges on whether spot demand can absorb overhead supply or if derivatives-driven overheating will trigger a pullback.
Peter Brandt Forecasts Bitcoin Peak Between $125K–$150K in Late 2025
Bitcoin surged past $97,000 on May 1, inching closer to the psychological $100,000 mark and igniting bullish sentiment across crypto markets. Veteran analyst Peter Brandt projects a cycle top of $125,000–$150,000 by Q3 2025, citing historical chart patterns and cyclical behavior.
CryptoQuant’s Adler suggests even higher targets of $150,000–$175,000 could materialize if Bitcoin’s momentum ratio sustains above 1.0. The rally comes amid growing institutional interest and macroeconomic tailwinds for scarce digital assets.
Riot Platforms Posts Record Revenue Amid $296M Q1 Net Loss
Riot Platforms achieved record quarterly revenue of $161.4 million in Q1 2025, more than doubling its year-ago performance. The Bitcoin miner’s growth was fueled by higher BTC prices, expanded mining capacity, and operational upgrades at its Corsicana Facility.
Despite revenue growth, the company reported a net loss of $296.4 million - a stark reversal from $211.8 million net income in Q1 2024. Adjusted EBITDA turned negative at $176.4 million compared to positive $245.7 million previously.
The Texas-based miner continues scaling operations, capitalizing on improved market conditions. As one of North America’s largest vertically integrated BTC mining firms, Riot’s performance remains tightly coupled with Bitcoin’s price movements and mining economics.
BTC Dominance Rises as Saylor Advocates for $82B Bitcoin Allocation
Bitcoin’s market dominance continues to climb as MicroStrategy’s Michael Saylor pushes for an ambitious $82 billion corporate BTC allocation. The cryptocurrency landscape shows diverging trends, with BTC consolidating its lead while Amazon makes waves in the AI sector through its Alexa+ rollout.
Amazon’s generative AI assistant, Alexa+, enters limited preview for Echo Show owners in the U.S. The service tier—free for Prime members and $19.99 monthly for others—marks the tech giant’s delayed entry into the conversational AI arena originally slated for October 2023.
Senator Lummis Claims Trump Backs Bitcoin Strategic Reserve Bill
Senator Cynthia Lummis announced during a U.S. Senate speech that former President Donald Trump supports her BITCOIN Act, legislation proposing the creation of a 1 million Bitcoin strategic reserve. The initiative aims to address the nation’s $36 trillion debt while positioning the U.S. as a leader in financial innovation.
Lummis praised Trump’s forward-thinking approach, emphasizing the bill’s potential to secure America’s economic future. The proposal has sparked discussions about Bitcoin’s role in national fiscal policy and its long-term viability as a reserve asset.
