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Bitcoin Aims for $97K as Bulls Take Charge — While Gold Loses Its Shine

As May begins, Bitcoin (BTC) is making headlines again—this time by approaching the $97,000 mark, its highest level since February 22. In just one day, the world’s largest cryptocurrency rose nearly 3%, sending a clear message: the bulls are back in control. Meanwhile, traditional safe-haven asset gold is down nearly 8% from its recent highs, creating an interesting contrast between the old and new stores of value. With global markets in a state of flux, investors are closely watching Bitcoin’s next move—and what it might mean for the broader financial landscape. Bitcoin’s Climb: A Perfect Storm of Momentum Bitcoin’s sharp move higher came during the opening hours of the U.S. trading session. Stocks were also rallying, with tech giant Microsoft jumping 10% and temporarily becoming the most valuable public company on the planet. This kind of synchronized bullish momentum in both equities and crypto suggests that investors are regaining confidence in risk-on assets. Popular trader a...
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Bitcoin Signals Strong Bullish Momentum as Key Indicators Align

Bitcoin (BTC) is flashing bullish technical signals as its long-term moving averages continue to shift upward, hinting at a potential price recovery. The latest weekly moving average analysis reveals that BTC is trading above key support levels, reinforcing a positive market sentiment.

Currently, the 50-week Simple Moving Average (SMA) sits at $74,890, while the 20-week SMA hovers around $91,070. Historically, Bitcoin has shown strong bullish momentum when its price remains above these critical indicators. In previous bull markets, the 20-week SMA has acted as a solid support level, fueling further price appreciation. Additionally, the 200-week SMA, positioned at $44,580, remains a significant long-term support zone.

Bitcoin’s Key Bullish Cross & Historical Patterns

Bitcoin has frequently rebounded from the 200-week SMA during bearish cycles, confirming its fundamental strength. The expanding gap between Bitcoin’s price and the 200-week SMA further solidifies its long-term bullish outlook.

One of the most notable developments is the 20-week SMA surpassing the 50-week SMA, forming a bullish crossover. Historically, such crossovers have preceded major uptrends, including the explosive rally of 2021. This technical alignment suggests that Bitcoin may be on the brink of another extended bullish phase.

Additionally, Bitcoin is currently trading above the 100-week SMA ($54,930), further reinforcing short- and medium-term bullish momentum. If BTC maintains this trajectory, the eight-week SMA ($98,960) emerges as the next significant resistance level. A breakout above this level could pave the way for Bitcoin to breach six-figure territory.

The Road to $100,000?

If Bitcoin’s price action stays above these critical moving averages, bullish momentum could strengthen further. With strong support at $91,000 (20-week SMA) and $74,000 (50-week SMA), BTC appears well-positioned for continued growth. A sustained rally could push Bitcoin toward the psychological milestone of $100,000.

Despite the optimistic outlook, traders should remain cautious, as Bitcoin’s price movements are inherently volatile. However, if BTC continues to respect these key SMAs, the market may be on the verge of a prolonged bull run.

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