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Bitcoin (BTC) secured an 11% monthly gain in May 2025, briefly touching $105,000 before retreating. The cryptocurrency's performance remains under scrutiny as traders identify critical support zones between $97,000 and the psychologically significant $100,000 mark. Market participants are closely monitoring the weekly close, which could dictate short-term price direction.
Analysts highlight a developing bearish divergence on Bitcoin's weekly Relative Strength Index (RSI), suggesting potential downward pressure. Matthew Hyland, a prominent trader, emphasized the pivotal nature of the current price level, noting its proximity to December 2024's local top of $104,450. The RSI divergence—where price highs don't correspond with momentum highs—historically precedes corrections.
Titan of Crypto identified two Fibonacci-based "fair value gaps" at $97,000 and $90,000, areas where order book imbalances may trigger accelerated moves. ——A 50% rally typically needs consolidation—— he noted, suggesting a pullback could strengthen long-term market structure.
Order book analysis by CrypNuevo reveals concentrated liquidity around the $100,000 level, acting as both psychological support and a potential target for short-term traders. Despite last week's 8% dip, the overall bull trend remains intact with key support rising to $84,000. 【Data shows】 exchange liquidity pools growing above current prices, indicating institutional accumulation zones.
Market participants are balancing caution with optimism. While RSI warnings suggest near-term downside, the broader uptrend since 2023's institutional adoption wave keeps bulls confident. As one trader remarked, ——This resembles 2020's mid-cycle consolidation before the final parabolic phase——.
The coming weeks may determine whether Bitcoin challenges its 2024 highs or undergoes a deeper correction. Traders are deploying strategies ranging from spot accumulation at $97K to leveraged shorts targeting $90K. With volatility expectations rising, derivatives markets show increased put option interest for July 2025 expiries.
All eyes remain on the $100,000 threshold—a breach could trigger algorithmic buying, while failure to hold may confirm the RSI divergence's bearish implications. As of press time, BTC/USD fluctuates near $103,800 with trading volume 18% below its 30-day average.