Bitcoin Teases $100K—Can Bulls Defend Critical Support for a Run at ATH?
Bitcoin’s flirting with six figures again—but this rally only sticks if key support levels hold. Here’s what traders are watching.
The $100K Psychological Battleground
BTC’s latest surge has institutional desks dusting off their ’moon’ memes. Yet every crypto veteran knows: nine-zero price tags attract both euphoria and violent liquidations.
Support or Spectacle?
The current consolidation zone near $90K acts as the bull case’s litmus test. Break below? Expect leveraged longs to unravel faster than a DeFi rug pull.
Wall Street’s Late Arrival
Traditional finance finally ’discovers’ Bitcoin—just as miners start dumping reserves to cover operational costs. How very on-brand for legacy players to chase the trend.
All eyes on the weekly close. Either we’re witnessing the prelude to price discovery... or another masterclass in crypto volatility.
Bitcoin (BTC) Price at a Make-or-Break Junction
The Bitfinex report also mentions that if BTC holds above the $95,000 mark, it would mark a “structural shift” back into the bullish territory, keeping the gates open for fresh all-time highs. But failure to do so could lead to a major downtrend.
Analysts noted that the coming days will be critical in determining whether Bitcoin embarks on a sustained breakout or retreats to retest lower support levels. Negotiations in the US-China trade war, and Jerome Powell’s positive commentary at the FOMC could set the tone for the next directional move for Bitcoin.
The US Federal Reserve has launched its largest three-year bond purchase program since 2021, injecting $20 billion daily, according to an update from Money Guru Digital on X. On the other hand, markets anticipate potential interest rate cuts at the upcoming FOMC meeting on May 7.
The Fed just made its biggest 3-year bond purchase since 2021, spending $20 billion in a single day.
So instead of cutting rates, they’re quietly pumping liquidity.
What should we expect from tomorrow’s FOMC? pic.twitter.com/i8GAR5UCuR
— Money Guru Digital (@Moneygurudigi) May 6, 2025
BTC Whale Accumulation on the Rise
Bitcoin large wallets holding 10 to 10,000 BTC, closely tied to market health, have accumulated an additional 81,338 BTC over the past six weeks, increasing their holdings by 0.61% during a period of heightened volatility, reported blockchain analytics firm Santiment.
The institutional interest is also visible through the strong inflows into spot Bitcoin ETFs with BlackRock’s IBIT absorbing a large number of flows. IBIT has witnessed consecutive inflows over the past 16 days, closer to $5 billion.
🐳 As May progresses, Bitcoin’s key stakeholders are mostly moving in the right direction if you’re rooting for $100K $BTC in the NEAR future.
Wallets with the highest correlation with crypto’s overall market health (10-10K BTC wallets) have accumulated a combined 81,338 more… pic.twitter.com/4DKhOwROgx
— Santiment (@santimentfeed) May 6, 2025
In contrast, smaller wallets with less than 0.1 BTC, often linked to lagging and inverse price correlations, shed 290 BTC, representing a 0.60% reduction in their holdings.
nextBitcoin (BTC) Price Eyes $100K Breakout to All-Time High if This Support Holds
