Bitcoin, the main cryptocurrency by market capitalization, approached the $105,000 degree earlier this Sunday, reaching an intraday excessive of $104,958 on the Bitstamp trade.
There have now been a complete of 12 days the place the worth of the main cryptocurrency has closed above the extremely vital $100,000 mark.
It’s extremely quiet
Although Bitcoin is simply inches away from reclaiming the $100,000 degree, retail buyers seemingly stay on the sidelines for now.
“Funding charges are additionally low relative to prior value peaks. After they come, they’ll come very closely,” he stated.
Fundstrat’s Tom Lee has described this sort of silence as “unusual,” on condition that Bitcoin has made important strikes over the previous few days.
It isn’t clear whether or not Bitcoin will have the ability to maintain the present momentum and ultimately attain a brand new document excessive. As reported by U.Right now, Normal Chartered predicted
Within the meantime, chartist Todd Butterfield believes that Bitcoin is flippantly overbought following the latest surge, that means that the cryptocurrency would possibly expertise a slight pullback.
Our Technometer is lastly overbought for #Bitcoin We search for a pullback right here…. #Wyckoff pic.twitter.com/coIx7Ljn95
— Todd Butterfield (@WyckoffOnCrypto) Could 11, 2025
A prescient Reddit put up
Within the meantime, a particularly prescient Reddit put up from 2011 predicting Bitcoin’s value motion just lately emerged on social media.
A Reddit consumer (u/oldie101) made a put up on the r/MarkMyWords subreddit predicting that the cryptocurrency would have the ability to hit $100,000 in 2025.
“Simply realized why I used to be getting notifications. No, I didn’t hodl. Purchased and offered as life moved on. Nonetheless hodl a bit, however may have been lengthy retired if I trusted myself way back,” the consumer wrote a Reddit remark 4 days in the past.
