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Bitcoin Breakout Imminent? Binance Taker Activity Suggests Bullish Continuation

by admin May 21, 2025

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Bitcoin (BTC) may still have room to run, as recent Binance taker data points to another short-term bullish setup for the leading cryptocurrency. Notably, BTC has surged 23.8% over the past month and is currently trading about 4% below its all-time high (ATH).

Another Bitcoin Breakout On The Horizon?

In a recent CryptoQuant Quicktake post, analyst Crazzyblockk suggested that Bitcoin could be poised for another rally based on the custom Binance Taker Buy-Sell Ratio Momentum Signal. The analyst shared multiple indicators that suggest BTC may soon break through its previous ATH.

Source: CryptoQuant

The first key insight is that both weekly and monthly buy-side taker volumes have seen a significant uptick. This spike signals aggressive buying behavior from market participants willing to execute trades at market price, often a strong sign of growing demand.

Related Reading: Bitcoin Poised For $120,000 Rally As Wyckoff Accumulation Hits Final Phase, Analyst Says

For the uninitiated, the buy-sell taker volume refers to the amount of BTC bought or sold by takers – traders who place market orders that are immediately matched with existing limit orders. A higher buy-side taker volume indicates aggressive buying behavior, often signaling bullish market sentiment.

Another critical metric is Bitcoin’s 30-day Z-score, which is currently hovering around 1. This indicates neutral market behavior – well below the overheated threshold of 3 – suggesting that buyer dominance is sustainable and not yet stretched thin.

To explain, Bitcoin’s 30-day Z-score measures how far the current value of a metric – like trading volume or price – deviates from its 30-day average, in terms of standard deviations. A Z-score around 0–1 indicates neutral or typical activity, while values above 3 suggest an overheated or extreme market condition.

The analyst also pointed out that BTC’s weekly price volatility is at its lowest in months. Historically, such low-volatility periods tend to precede significant price movements. Given the current buy-side dominance, the likely breakout direction appears to be upward.

Finally, Crazzyblockk stated that the intraday taker buy-sell imbalance is currently favoring buyers. The CryptoQuant contributor added:

Despite total volume being matched between bids and asks, aggressive taker behavior is skewed toward buys, signaling a clear dominance in execution intent. This imbalance is key for short-term momentum.

In summary, taker behavior data on Binance clearly shows bulls are in control. As long as this pattern holds, a short-term upside continuation remains the most probable scenario.

Analysts Share BTC Targets

As Bitcoin inches closer to its January ATH of $108,786, crypto analysts are weighing in with new cycle targets. For instance, Ali Martinez recently identified $116,900 as the next major resistance zone for BTC.

Meanwhile, on-chain analyst Burak Kesmeci believes BTC could rally as high as $159,000 in this ongoing bull cycle. At press time, BTC is trading at $104,611, up 1.1% over the past 24 hours.

BTC trades at $104,611 on the daily chart | Source: BTCUSDT on TradingView.com

Featured Image from Unsplash.com, charts from CryptoQuant and TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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May 21, 2025 0 comments

Crypto Trends

KindlyMD shareholders approve Bitcoin pivot via Nakamoto Holdings merger

by admin May 21, 2025

KindlyMD shareholders have approved a merger with Bitcoin holding firm Nakamoto Holdings, paving the way for the creation of a publicly traded Bitcoin-focused conglomerate.

According to a May 20 announcement from the U.S.-based healthcare services provider, both companies will now file information statements with the Securities and Exchange Commission.

The merger is expected to close 20 days after these disclosures are shared with shareholders. Completion is targeted for the third quarter of 2025.

Nakamoto Holdings, led by Donald Trump’s crypto adviser David Bailey, is a newly formed entity that seeks to consolidate Bitcoin-native businesses under one umbrella.

The deal gives Nakamoto Holdings a Nasdaq-listed vehicle to pursue its goal of turning Bitcoin into a foundational asset across global capital markets.

The merged firm plans to scale its Bitcoin holdings per share, a concept Bailey refers to as “Bitcoin Yield,” through equity, debt, and hybrid offerings.

Though KindlyMD will continue operating its clinics focused on opioid reduction and alternative therapies, the new entity’s core focus will be financial, not medical.

“We are grateful that KindlyMD shares our vision for a future in which Bitcoin is a core part of the corporate balance sheet, and investors across global capital markets have exposure to the world’s greatest asset and store of value,” Bailey said in an accompanying statement.

The companies first announced the proposed merger on May 12. At the time, they described plans to launch a network of Bitcoin-native firms while using the merged balance sheet to accumulate BTC.

Details of the merger were announced alongside a $710 million capital raise, with Nakamoto securing $510 million through a private placement and $200 million via convertible notes, which, according to Nakamoto, was the largest PIPE in any public crypto-linked transaction to date.

Bailey, who will become CEO of the merged entity, has likened his vision to building a modern counterpart to the Rothschilds or Morgans, except with Bitcoin as the reserve asset.

“Every balance sheet, public or private, will hold Bitcoin,” he said at the time.

News of the merger sent shares of KindlyMD (KDLY) soaring more than 650% in premarket trading when it was first announced. Shares closed May 20 at $15.22, up 9% on the day, and climbed another 4.8% in after-hours trading. KDLY is now up over 979% year-to-date.

Bitcoin’s growing role as a treasury asset

With Bitcoin gaining traction as a corporate treasury asset, the KindlyMD–Nakamoto merger adds to a broader wave of public companies across the globe that have integrated Bitcoin into their financial strategies.

In the healthcare space, Basel Medical Group entered exclusive talks to buy up to $1 billion worth of Bitcoin earlier this month, while Semler Scientific has also joined the trend, and has been consistently building a sizable Bitcoin stash, holding 3,808 BTC as of May 21.

Meanwhile, in Latin America, Brazilian fintech Méliuz became the first publicly traded company in the region to adopt Bitcoin as a treasury asset, following shareholder approval earlier this month.

Over in the Middle East, Al Abraaj Group kicked off its Bitcoin strategy with an initial 5 BTC purchase, while signalling plans to acquire more.

Strategy—formerly MicroStrategy—was the first major public company to adopt Bitcoin as a primary treasury asset back in 2020, effectively popularizing the corporate Bitcoin playbook.

Recently, the firm disclosed a fresh $765 million purchase, adding 7,390 BTC to its balance sheet.

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May 21, 2025 0 comments

GameFi Guides

Texas House Advances Bitcoin Reserve Bill With Bipartisan Backing

by admin May 21, 2025

In brief

The Texas House passed Senate Bill 21 on second reading with a 105-23 vote, advancing it to third reading.
An amendment adopted Tuesday requires eligible cryptocurrencies to maintain a $500 billion market cap over 24 months.
If enacted, Texas could become the second U.S. state to establish a government-managed Bitcoin reserve, after New Hampshire.

The Texas House of Representatives voted Tuesday to approve Senate Bill 21, its state Bitcoin reserve bill, pushing it past a critical legislative hurdle.

The House began by adopting an amendment from Representative Linda Garcia (D-TX) that doubled the required market capitalization period from 12 to 24 months.

Buoyed by strong bipartisan support, the House passed the Senate Bill 21 with a 105-23 vote, advancing it to a third reading.

The bill is a “forward-thinking measure” that would help recognize digital assets “not as a trend but as a strategic opportunity” key to “strengthening the state’s fiscal resilience,” Giovanni Capriglione (R-TX), its House sponsor, said before the final vote.

Officially dubbed the Texas Strategic Bitcoin Reserve and Investment Act, the bill establishes a framework for the state comptroller to maintain and manage crypto holdings as a “special fund outside the state treasury.”

Initial discussions and proposals for it were first floated in December last year under H.B. 1598.

Under the proposed legislation, the reserve can hold Bitcoin and potentially other cryptos as “a hedge against inflation and economic volatility,” according to the bill text’s House committee version.

The comptroller also needs to submit a report every two years to the legislature on crypto holdings, their value, and any changes during that time. An advisory committee, including crypto investment experts, will guide the comptroller on reserve management.

Progress on Texas’s Bitcoin reserve bill comes roughly two years since the Lone Star state established itself as a major crypto mining hub, consistently ranking as a top choice for crypto mining firms across the U.S.

Still, the bill requires passage on third reading in the House.

Since it was amended, any differences between the House and Senate versions would need to be reconciled before final approval by both chambers.

Only then would it head to the governor’s desk, potentially establishing America’s second state-managed Bitcoin reserve after New Hampshire earlier this month.

The state of Arizona would have followed, but its governor nixed its Bitcoin bill, with only a companion bill for unclaimed crypto being passed two days later.

Edited by Sebastian Sinclair

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May 21, 2025 0 comments

NFT Gaming

Bitcoin Futures Zoom to Record Open Interest; DOGE, ADA, XRP Add 3%

by admin May 21, 2025

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.

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May 21, 2025 0 comments

NFT Gaming

US Tourist Says Bitcoin, XRP Worth $123K Stolen After Ride With Fake Uber in London

by admin May 21, 2025

In brief

A U.S. tourist lost more than $123,000 in cryptocurrency after being drugged and abducted by a fake Uber driver in London’s West End.
The attacker reportedly gained access to the victim’s digital wallet after obtaining his phone passcode.
Police are investigating the incident amid a rise in physical attacks targeting crypto holders across Europe.

A U.S. tourist has lost more than $123,000 in crypto after being targeted in a suspected premeditated theft in London’s West End following a night out and a short stay in the city.

Jacob Irwin-Cline from Portland, Oregon, was on a two-day layover when he called an Uber after leaving The Roxy, a nightclub in Soho, around 1:30 AM on May 9.

Police reports indicate a driver who knew his name from the app intercepted him, according to an initial report from local media outlet MyLondon.

CCTV footage from the nightclub later requested by Irwin-Cline revealed that he entered a dark sedan rather than the Toyota Prius displayed on his Uber app.

“The guy seemed super chill, super nice,” Irwin-Cline recounted.

The driver then offered him a cigarette, believed to contain scopolamine, a sedative causing blackouts while keeping victims conscious and suggestible.

“I said I stopped smoking, but he said, ‘Oh, c’mon. I said, ‘Sure, if you want to bond over a cigarette, ‘” Irwin-Cline reportedly said.

While under the influence, Irwin-Cline unwittingly provided his phone’s passcode and access to his crypto accounts before he was abandoned in an unfamiliar area of London.

Authorities later confirmed the attackers accessed his wallet directly after a forced login of his Revolut account.

The London incident marks the latest instance across Europe involving a “wrench attack,” a term used to refer to physical threats forcing victims to surrender their crypto.

Irwin-Cline estimates his total crypto losses at $123,000, including $72,000 in XRP tokens, approximately $50,000 in Bitcoin, and several smaller coin positions were drained.

He also said he doesn’t believe he was targeted and that instead the attacker got “lucky” that he had a “bit of wealth stored away.”

An investigation is ongoing, and no arrests have yet been made. Decrypt reached out to relevant authorities for comment.

Edited by Sebastian Sinclair

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May 21, 2025 0 comments

GameFi Guides

Bitcoin Open Interest Hits $74 Billion Amid Price Rally

by admin May 21, 2025

Institutions and macro trends drive activity
Bitcoin rebounds to $106,000 despite intraday dip

The Bitcoin futures market is showing strong signs of activity, with its open interest rising to $74 billion, according to Coinglass data. This jump indicates that an increasing number of traders are positioning themselves for possible price moves in the upward direction.

Their actions are proof of renewed confidence in the leading cryptocurrency. The latest surge to $74 billion, one of the biggest in the past few weeks, indicates strong hedging activity.

Institutions and macro trends drive activity

Among the factors driving this trend is the return of bullish sentiment after recent positive changes in the global macroeconomy, especially expectations of lower interest rates and cooling inflation.

With top financial firms expanding their crypto offerings, growing institutional interest is another factor that could be influencing this trend. Even though higher open interest doesn’t result in a price increase, it shows that more investors are pumping money into the Bitcoin futures markets.

However, a sharp rise in Bitcoin price could trigger massive liquidations and add volatility. Coinglass data also shows a strong relationship between BTC’s price and its open interest.

Bitcoin rebounds to $106,000 despite intraday dip

Current CoinMarketCap data shows that Bitcoin currently trades at $106,616, a rise of 1.11% in the last day. Earlier in the day, the crypto asset’s price dropped to about $104,000 as indicated by the red shaded area. But by midday, it rose back to above $106,000 before reaching its latest price.

Source: CoinMarketCap

Even though BTC’s trading volume is down 17.99% in the past 24 hours, it’s still $54.18 billion. Despite this volume decrease, the crypto asset’s daily volume to market cap ratio of 2.54% shows a relatively healthy liquidity.

The cryptocurrency’s profile score of 100% also suggests strong market sentiment, while the technicals indicate a continued bullish outlook among analysts and traders.

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May 21, 2025 0 comments

NFT Gaming

Bitcoin (BTC) Performs Mind-Blowing Comeback, Dogecoin (DOGE) Is Stuck, Solana (SOL) Can Surprise You With $200

by admin May 21, 2025

Dogecoin getting out
Solana can comeback

Bitcoin has just produced a classic example of market turbulence. After almost falling below the $100,000 mark, which was a sign of a possible trend reversal, Bitcoin made a stunning comeback, soaring back toward $105,000 and sending short sellers reeling. Bitcoin’s chart looked like a minefield for traders with leverage during the last few trading sessions. It turned out to be a classic fakeout, but a brief breakdown below the critical $100,000 level appeared convincing enough to cause widespread liquidations.

The swift recovery that ensued not only disproved the bearish structure but also demonstrated how resilient bulls are in the current market cycle. Overly leveraged volatile markets are characterized by this fakeout; fakeout behavior is a nightmare for anyone who is overexposed. The breakout penalized shorts, who believed they had the upper hand, while the breakdown flushed out longs, taking both long and short traders by surprise.

BTC/USDT Chart by TradingView

Technically, Bitcoin is currently trading just below recent resistance after regaining the local high. As of right now, there is not much evidence of bearish divergence, but momentum indicators are still hot, and the RSI is above 70, which may indicate overbought trading conditions.

The volume level is dropping a little, which could indicate a brief period of exhaustion or simply a cooldown before the next move. If Bitcoin can sustain this momentum and stay above $105,000, it could push toward new heights. The possibility of another trap or whipsaw move, however, is still very high — if it is rejected at this stage once more. Essentially, Bitcoin has once again demonstrated why it is the king of uncertainty.

While the recent rally is impressive, the aftermath of that fakeout serves as a reminder that the market’s goal in the cryptocurrency space is to harm as many traders as possible, particularly those who become arrogant when using leverage.

Dogecoin getting out

With the asset trading sideways and displaying indications of stagnation as volatility fades from the chart, Dogecoin is presently trapped in a frustrating limbo. Following its recent surge above significant resistance levels earlier this month, DOGE has been unable to build on the momentum and has entered a low-energy correction phase that is beginning to negatively impact market sentiment.

The price is circling around $0.22, but what is more worrisome than the price is the lack of movement. There appears to be indecision among traders as the candlestick structure is forming a descending triangle, or wedge. DOGE is still chained in place, but volume has significantly decreased, which usually signals a big move. A short-term neutral-to-bearish stance is suggested by the 26 EMA’s current technical intersection with midterm indicators.

Solana can comeback

Pressure is steadily increasing on Solana, and a surprise breakout could be imminent. With a descending wedge pattern forming just below the crucial $170 resistance level, the asset has entered a consolidation phase following a robust rally in late April and early May. Solana is a strong contender for a volatility-driven move because of this structure and its closeness to the 200 EMA.

NYC’s ‘Bitcoin Mayor’ Eric Adams Reveals Plans to Boost ‘Demonized’ Crypto Industry

by admin May 20, 2025

In brief

Eric Adams announced a new digital assets advisory council for New York City.
Council chair and key policy recommendations will come in a few weeks.
The city will explore using blockchain and crypto for birth certificates, death records, and payment of city services.

In opening remarks at the inaugural NYC Crypto Summit, mayor Eric Adams announced the development of a digital assets advisory council designed to help bring jobs and investment to New York City, as it aims to cement itself as the world’s “crypto capital.”

Adams, who famously received his first three paychecks in Bitcoin and Ethereum back in 2022, addressed a standing-room-only crowd of crypto enthusiasts and investors whom he turned to for ideas on how to propel New York forward.

“My goal remains the same as it was day-one as mayor: making New York City the crypto capital of the globe,” said Adams. “We will be creating a digital asset advisory council to bring big fintech jobs and investment right here to the Big Apple.”

Further details about the council were not revealed, though Adams indicated that the chair of the council and key policy recommendations would be announced in a few weeks.

“This is not about chasing memes or trends,” said Adams. “We want to use the technology of tomorrow to better serve New Yorkers today.”

Few specifics were shared about the mayor’s plans for blockchain and crypto in New York, but both he and New York City CTO Matthew Fraser made note of the potential to use blockchain for tasks like tracking birth certificates and death records.

“We’re also looking at the power of blockchain and how it can be used to manage sensitive information, like our vital records,” said Adams. “Bringing blockchain security capabilities to the city means that birth certificates and death records can remain private, but accessible to New Yorkers and their next of kin.”

He added that they are also exploring whether city services and taxes could be paid via crypto.

“Imagine for those that have been locked out of the traditional banking system, being able to pay for government services using crypto,” said Fraser. “We’re not talking about innovation; we’re talking about survival. And if we don’t get in front of this and we don’t build a strategy that works, then we’re going to get left behind.”

The mayor, who likened himself to Captain Kirk in “Star Trek” due to his exploration of new boundaries, said he’s looking for his “Spock” and others who wish to join him. Adams reiterated multiple times that he is “committed to making crypto and blockchain part of New York City.”

At the conclusion of the opening remarks, individuals with crypto and fintech interests were left to discuss amongst themselves, sharing ideas and impediments with table facilitators who will bring the best to Adams to be formalized in a document.

Adams has previously shared his interest in cryptocurrency and blockchain, but the inaugural NYC Crypto Summit came following the re-election of President Donald Trump, who has made numerous crypto-related policy moves since returning to the White House. The mayor has cozied up to the president and his policies.

Adams will run for re-election as an independent instead of taking part in the Democratic primary, following a federal corruption investigation. Trump’s DOJ dismissed the charges against Adams in April.

On Tuesday, Adams reassured attendees that it’s a new day for the crypto industry.

“You were harassed, you were demonized, you were treated as though you were the enemy, instead of the believers,” he said. “But you withstood it. Your resiliency is admirable, and it will all pay off, because everyone is going to come around.”

Edited by Andrew Hayward

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May 20, 2025 0 comments

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Bitcoin Is Becoming A Key Election Issue In Chile

by admin May 20, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin’s environmental and macro-economic implications have vaulted the cryptocurrency from a niche policy matter into the thick of Chile’s presidential race, with advisers to every major contender treating the asset—and the mining industry that underpins it—as a potential vote-winner rather than a liability.

Bitcoin Emerges As A 2025 Election Issue In Chile

New Zealand-based ClimateTech venture capitalist Daniel Batten told his followers on X that “Bitcoin is shaping as an election issue for Chile in 2025.” He added that after meetings on both sides of the aisle, no serious candidate now opposes the technology, because “being against Bitcoin is like being against the Internet: political suicide.”

Behind Batten’s assessment stands a two-year, largely low-profile lobbying campaign led by Chilean software-engineer-turned-policy-advocate Andrés Villagrán. Since 2023 Villagrán has shepherded US strategist Dennis Porter, chief executive of the Satoshi Action Fund, through committee rooms in Santiago and regional capitals, pitching Bitcoin mining as an antidote to the country’s worsening renewable-energy curtailment problem. In a post on 18 May he reported “Great progress in Chile this week! Met w/ presidential candidates on Bitcoin & its role in clean energy/efficiency. Pushing for inclusion in programs.”

Villagrán’s talking points resonate with legislators drafting a Strategic Bitcoin Reserve (SBR) bill—legislation that would authorise the Central Bank to hold Bitcoin alongside gold and foreign currency. “In 2023 I embarked on an incredible journey… meeting over 20 parliamentarians and several ministers,” he wrote earlier this year, stressing that additional sessions with the Ministry of Finance are planned for the second half of the year.

Porter reinforced the message last week in a 40-minute keynote at the Chile Fintech Forum 2025, calling curtailment “a crisis” that wastes six terawatt-hours of solar and wind annually. “When you combine variable renewable generation with a variable load like Bitcoin mining, you can absolutely and completely eliminate curtailment,” he told the audience, arguing that miners’ ability to power down on demand makes them grid-stabilising rather than parasitic.

⚡️ @Dennis_Porter_ en #ChileFintechForum2025: la minería de Bitcoin puede revolucionar nuestro sistema energético. Envía este video a los políticos y exige que prioricen esto. Llevamos bastante tiempo junto a Dennis informando a Ministerios, Diputados y Senadores de Bitcoin 🚀 pic.twitter.com/UStgKda93e

— Andrés Villagrán 🌳⚡ (@avillagran) May 15, 2025

The political class has taken notice. According to campaign aides with knowledge of the briefings, both José Antonio Kast of the right-wing Republican Party and Evelyn Matthei of the centre-right Chile Vamos coalition—currently tied at 17% in the latest Cadem survey—now frame Bitcoin as a competitiveness issue rather than a speculative bubble. On the left, the Unity for Chile pact has slated a 29 June primary featuring Carolina Tohá, Gonzalo Winter, Jeannette Jara and Jaime Mulet, none of whom has ruled out Bitcoin-linked energy policy.

With opinion polling still volatile six months before the 16 November first round, campaign strategists say the debate could crystallise on 20 June, when the first nationally televised candidates’ forum is expected to devote a segment to energy pricing and digital assets. Villagrán confirms that at least one contender has already pledged on the record to raise Bitcoin mining that night.

Whether the SBR bill advances before the election remains uncertain; the Central Bank’s board has warned of “volatility and liquidity concerns” under IMF reserve-management rules, and President Gabriel Boric’s administration has maintained public neutrality. Yet the political cost–benefit has shifted. As Batten put it, Chilean politicians have “learnt from the Democrats’ debacle in the US” and are determined not to be caught on the wrong side of a technology that many voters now equate with innovation, cheap power and macro-hedging.

If that calculation holds, November’s ballot could mark the first time in Latin America that a major economy heads to the polls with every viable presidential programme containing a chapter on Bitcoin—an outcome that may matter as much to the global energy debate as to the future of digital money.

At press time, BTC traded at $105,385.

BTC continues to consolidate above the 0.786 Fib, 1-day chart | Source: BTCUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

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May 20, 2025 0 comments

Crypto Trends

Bitcoin ready to ‘vaporize’ shorts once price discovery above $110K begins

by admin May 20, 2025

Key takeaways:

An end-of-month Bitcoin price close above $102,400 would set the highest monthly close ever, proving the bull market continues at a rapid pace.
Over $3 billion in Bitcoin short positions are vulnerable above $107,000, creating a “liquidation magnet” that could send BTC price to new highs.

Bitcoin (BTC) is 11 days from potentially setting its highest monthly candle close in history. After achieving a record weekly close of $106,407 on May 18, BTC could secure a new monthly high by closing above $102,400 this month.

Bitcoin 1-month chart. Source: Cointelegraph/TradingView

With respect to its current market trend, Bitcoin is inches away from a ‘price discovery’ period, as noted by crypto trader Jelle.

Price discovery in this context refers to the process where buyers and sellers interact at an undefined or non-traded range to determine the market price of an asset.

A break above Bitcoin’s all-time high of $110,000 would initiate a price discovery phase, driving BTC into an uncharted trading range with successive higher highs until market participants establish a new equilibrium between supply and demand.

Cointelegraph reported that Bitcoin is close to confirming a “golden cross” on its daily chart, which has historically preceded 45% to 60% price rallies. Such a move coincides with the probability of BTC hitting new highs this month.

A monthly close near $110,000 would mark a 15% to 17% gain for Bitcoin in May, its strongest May performance since 2019. This would significantly surpass the historical average monthly return of 8% for the month.

Bitcoin historical monthly returns. Source: CoinGlass

Related: Bitcoin is signaling a golden cross — What does it mean for BTC price?

Bitcoin would vaporize ‘shorts’ above $107,000

Bitcoin researcher Axel Adler Jr. has noted a key technical pattern in Bitcoin’s current bull cycle, pointing to three recent instances of “compression”—a period of tightening price ranges—measured by rolling maximum/minimum over 180 days.

The chart indicates that this compression often signals an impending breakout, with historical precedent set by the 2017 rally when Bitcoin surged to $20,000 from $1,000.

Bitcoin 180-day price high and low analysis. Source: X.com

Using Bollinger Bands alongside the price range suggests that volatility is building within the current cycle. The third compression phase in 2025 mirrors the 2017 cycle, where the Bitcoin halving events and supply shocks fueled retail FOMO, driving major price rallies.

From the vantage point of Bitcoin liquidation, over $3 billion in short leveraged positions are at risk of being liquidated if BTC price moves to $110,000 from $105,000. In contrast, it would take a drop to $94,612 to trigger a similar amount in long liquidations. This skew suggests a higher probability of the price pushing upward to chase liquidity on the sell-side rather than dropping lower.

Technical analyst Gert van Lagen noted a similar outlook, stating,

“A liquidation magnet is glowing above $107K, ready to vaporize billions in shorts. First, BTC soared on fear. Next, it’ll rise on liquidations.”Bitcoin liquidity levels. Source: X.com

Related: Bitcoin trading in six-figure territory shows BTC is ready to carry gold’s ‘baton’ — Fidelity exec

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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May 20, 2025 0 comments