Bitcoin is trading close to $110,000, marking a significant milestone as analysts anticipate a potential breakout.
Bitcoin Approaches $110,000
Bitcoin reached a new weekly close of **$106,407** on May 18, 2025, drawing close to the **$110,000 mark**. The cryptocurrency has been trading in a volatile range between $105,000 and $110,000. Speculative trading activity has increased, with analysts predicting a potential **price breakout**. Options activity reflects this sentiment, with **heavy volume on strike prices** at $110,000 and $120,000 for late June expiries.
Analysts Predict New Phase of Bitcoin Price Discovery
Bitcoin's price surge is fueled by **strong market sentiment** and a projected strong financial performance for May. Analysts are viewing the current trend as a potential new phase of **price discovery** above the $110,000 level. Analyses suggest a **golden cross** on Bitcoin's daily chart, indicating possible price rallies of 45% to 60%. Despite bullish trends, the RSI indicates caution, highlighting the importance of technical analysis in price predictions.
Bitcoin Mirrors 2017 Bull Run in Current Market Dynamics
Bitcoin's current situation mirrors its 2017 bull run, characterized by **compression periods** that led to exponential growth. Similar patterns have been noted by experts, suggesting a bullish trend is likely. Experts from Kanalcoin predict that if historical trends hold, Bitcoin could see **new record highs**, spurred by investor confidence and strategic accumulation. Such patterns underscore Bitcoin's **resilience and potential** for substantial price appreciation.
Overall market trends indicate a possible breakout above $110,000, which could lead to new records as analysts continue to monitor market dynamics.
