Bitcoin is apparently gearing up for a massive golden cross, which means, of course, that it’s about to break through the $150,000 barrier—because why not? It’s not like that kind of thing happens every day, right? 😏
On Thursday, May 22, Bitcoin (BTC) casually decided to set a new all-time high at $111,544—just a few hours after it broke its own previous record of $109,400. And no, it’s not tired yet—this marks a cool 48% surge from the April 7 low of just under $75,000. This is, in case you missed it, the second all-time high in 2025. Someone’s been busy.
Meanwhile, Bitcoin’s market cap had the audacity to hit $2.2 trillion, and its realized cap also decided to flex, reaching a shiny new peak at $915 billion. All this just goes to show how much cash is flooding into the crypto universe, which is… comforting, I suppose.
Speaking of comfort, trading activity has spiked like a caffeine addict on a 24-hour binge. According to CoinGecko, 24-hour volume surged to $73.7 billion, compared to the measly $50 billion on Wednesday. Remember when it was below $30 million earlier this month? Yeah, no one does either. 🙄
And just in case you’re thinking of sitting out this spectacular show, BTC’s futures open interest also decided to break records, soaring to $81.35 billion. You know what that means? Institutional traders are getting more confident—or maybe just really, really bored.
Earlier this year, Bitcoin had a brief temper tantrum, plummeting over 30% from January’s high of $109,588, dipping below $75,000 by April. We all remember that, right? It was all thanks to Trump’s tariff drama. But don’t worry, mid-April brought some good news when the U.S. stopped bickering with its trading partners. How nice of them.
But here’s the kicker: demand for U.S. spot Bitcoin ETFs is still through the roof, with over $7.4 billion in net inflows over the past five weeks. It’s basically an endless supply of money pouring into the crypto ecosystem, and who’s complaining? Not Bitcoin.
Oh, and by the way, public companies are also picking up Bitcoin like it’s going out of style. One such company, Strategy, has grabbed over 2.7% of all Bitcoin in circulation. I guess “aggressive accumulation” is a thing now. Nice.
BTC Technicals Flash Bullish Patterns (Duh)
On the 1-day BTC/USDT chart, Bitcoin has just flipped its 21-day EMA into support like it’s going out of style. Meanwhile, the 50-day SMA (blue) has crossed above the 200-day SMA (green), forming a golden cross—yeah, that sounds like something you’d want to see, right? Historically, this has led to a 37% rally in just three months. So, if you’re not excited yet, what are you even doing here? 🤷♀️
On the weekly chart, Bitcoin has also broken out of a bull flag pattern. This is the classic “let’s keep going up” setup, where the price consolidates downward after a solid upward move. We’ve seen it before, and if history is any indication, it’s a sign that the only place Bitcoin is headed is… well, up. 💸
The breakout’s target points to $150,000. Of course, if that golden cross thing does its magic, we might just be looking at a realistic next stop of $153,600. Because why settle for just one number when you can have a slightly higher one? 🤩
Veteran trader Peter Brandt, ever the realist, acknowledged Bitcoin’s new highs but kindly reminded us that hitting all-time highs is just… what bull markets do. No big deal. He did, however, predict that Bitcoin could reach $125k to $150K by Aug-Sep 2025, but cautioned us about a potential 50% correction. Always a party pooper, that one.
Meanwhile, analyst Gert van Lagen is even more optimistic (lucky us!), predicting BTC could hit a massive $300K to $320K by the end of the bull cycle. He bases this bold prediction on a breakout from a 4-year Megaphone Pattern, which is just as ominous as it sounds. 🚀
Short-Term Risks? Sure, Why Not?
Despite all the happy, sparkly unicorns galloping through the Bitcoin fields, there’s always the chance of a short-term pullback. BTC’s RSI and Stochastic Oscillator have both ventured into the overbought territory, which means—brace yourselves—the rally may need to catch its breath for a bit. 😅
If that happens, Bitcoin might take a brief stroll toward the support zone near $93,500, which aligns with its simple moving average supports. Nothing to worry about, though—just a little breather before it rockets back up.
So, while a $150K run seems more likely than ever, just remember: it’s not going to be a smooth, straight shot. There might be a pit stop or two along the way. But hey, long-term gains, am I right? 📈
Read More
2025-05-22 11:49