Bitcoin’s price is hovering near its all-time high (ATH) since the recent short-lived bear market. Currently trading above the $105,000 threshold, the biggest cryptocurrency caught buyers’ attention by surpassing $100,000 once again. Analysts indicate strong bullish momentum in technical indicators, though they warn the overbought region might suggest short-term corrections. Institutional interest and ongoing capital inflows into spot ETFs may pave the way for the next record attempt.
Technical Indicators Support Bitcoin’s Rise
Bitcoin 
$77,710 is trading above the 50 and 200-day moving averages, maintaining buying pressure. According to Vincent Liu, CIO of Kronos Research, institutional adoption is increasing, and forecasting a new ATH by 2025 is quite reasonable. These robust signals are drawing more attention from long-term investors towards Bitcoin.
However, RSI data shows that the largest cryptocurrency is in the “overbought” zone. BTC Markets analyst Rachael Lucas remarks, “Overbought does not always mean an immediate pullback, but it strengthens the possibility of sideways movement or cooling in the short term.” She suggests that consolidation above the $100,000 level could lead to a volume-driven bottom formation, setting the stage for new peaks.
Macro Moves Trigger Price Surge
Positive news from U.S.-China trade negotiations has bolstered investor confidence again. The “significant consensus” reached in Switzerland signals a reduction in customs tariffs, fueling global risk appetite. Both the U.S. and China recently reduced tariffs on each other, with the U.S. lowering tariffs on China from 145% to 30%, and China reducing tariffs from 125% to 10%. Analysts emphasize that such macro-level steps relieve pressure on the cryptocurrency market.
Additionally, ongoing net inflows into spot Bitcoin ETFs and accumulation by large companies are supporting the rally. Liu from Kronos Research warns, “Risk management gains importance ahead of the U.S. CPI data release on May 13.” Investors should proceed cautiously, diversifying portfolios to guard against volatility.
Being approximately 4% away from the ATH peak of $108,786 recorded in January, Bitcoin brings a new record attempt to the agenda. Investors are closely monitoring how technical elements and macro conditions will shape up for such a move.
