Bitcoin (BTC) recently surged past $103,000, marking a significant milestone after U.S. President Donald Trump hinted at a potential trade deal with the UK. Currently trading around $103,800, the rally was sparked by a post on Trump’s Truth Social, which suggested that a blanket 10% tariff on all imports could be lifted.
This news fueled optimism among investors, sending the Dow Jones up 500 points and lifting the S&P 500 by 1.47%.
The $100,000 level is crucial, serving as a key psychological barrier for traders. According to market analyst Macroscope, maintaining support above $103,000 is critical to sustaining the current bullish momentum.
The prospect of multiple trade deals, coupled with ongoing U.S.-China negotiations in Switzerland on May 10, has further strengthened Bitcoin’s bullish outlook, adding fuel to the current rally.
U.S. States Embrace Bitcoin Reserves
Beyond trade news, Bitcoin’s surge is also being driven by state-level crypto legislation. On May 8, the Missouri legislature passed Bill 594, which eliminates all capital gains taxes on BTC, marking a significant step in crypto-friendly policies.
This follows similar moves by other states, positioning them to build strategic BTC reserves—a key development for the broader adoption of digital assets.
Moreover, on May 7, the U.S. Office of the Comptroller of the Currency (OCC) confirmed that banks under its jurisdiction can now trade crypto on behalf of clients. This move enables banks to offer custodial services and outsource crypto trading, further integrating BTC into the traditional financial system.
Institutional Support Drives Long-Term Demand
The institutional landscape for Bitcoin (BTC) is evolving rapidly. Inflows into spot BTC ETFs have surged, signaling growing interest from large-scale investors. Major corporations are increasing their BTC holdings, recognizing it as a hedge against inflation and economic uncertainty.
In late March, the FDIC issued new guidance allowing banks to hold crypto assets and offer a range of related services to their customers. This move further solidifies Bitcoin’s position as a mainstream financial asset.
Bitcoin Eyes $105,300 as Bulls Hold $102,500 Support
Bitcoin (BTC/USD) is currently trading around $103,375, having successfully broken above the key 1.618 Fibonacci extension at $100,756, signaling strong bullish momentum.
The next immediate resistance lies at the 2.272 Fibonacci level around $103,743, followed by the critical 2.618 extension at $105,325. These levels serve as potential upside targets if the current bullish momentum continues.
However, the current rally has pushed the MACD into overbought territory, indicating the potential for a short-term pullback. If prices do retreat, the immediate support is at the 2.0 Fibonacci level around $102,501, which coincides with the recent breakout zone.
A break below this level could expose Bitcoin to a deeper correction, with the next key support around $99,824.
Trade Setup:
- Buy Above: $102,500
- Take Profit: $105,300
- Stop Loss: $100,750
- Strategy: Consider entering above $102,500, targeting the 2.618 Fibonacci extension at $105,300, while setting a tight stop below $100,750 to manage potential downside risk.
BTC Bull Token has crossed $5.47M in funds raised, as its flexible 78% staking yield continues to attract investors seeking high returns.
BTC Bull Token ($BTCBULL) continues to gain momentum, surpassing $5.47 million in funds raised as it nears its $6.14 million presale cap.
Priced at $0.002495, BTCBULL is positioning itself as more than just a meme coin by offering real utility through flexible, high-yield staking.
Utility-Driven Tokenomics Fuel Demand
Unlike typical meme tokens, BTCBULL combines the appeal of crypto culture with tangible staking rewards. Investors can currently earn an estimated 78% APY while keeping their tokens fully liquid—unstaking is allowed at any time without penalties or lockup periods.
This model has resonated with investors looking for yield without sacrificing access, particularly in a volatile crypto market.
Current Presale Stats:
- USDT Raised: $5,471,430 of $6,149,555
- Current Price: $0.0025 per BTCBULL
- Staking Pool Total: 1,342,549,903 BTCBULL
- Estimated Yield: 78% annually
With less than $678K remaining before hitting the next milestone, the presale window is closing quickly. For investors seeking high yields and the flexibility to exit at any time, BTCBULL is becoming an increasingly attractive opportunity as the 2025 crypto cycle approaches.
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