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- Bitcoin Blasts Past $100K — But What's Fueling the Fire?
Bitcoin Blasts Past $100K — But What's Fueling the Fire?
BTC cracks $100K and keeps climbing — but behind the rally is a storm of liquidations, geopolitical risk, and retail FOMO. Meanwhile, ETH posts a 20% candle and CZ warns panic-sellers.
Joe G & Money Talks
May 09, 2025 • Estimated Reading Time: 7 minutes
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Bitcoin surged past $100K for the first time in 3 months, hitting $104,150 and triggering $800M in short liquidations, the largest since 2021.
Analysts point to a bull flag breakout with a technical target at $182,200.
GemXBT: “BTC is above all MAs and MACD is bullish — the trend has legs.”
CZ says Bitcoin is no longer a speculation: it’s conviction.
“BTC is in an uptrend above 5MA, 10MA, 20MA — momentum is clearly bullish.” — GemXBT
#BTC — #BLOWOFFTOP, But First: 🚨
This chart reflects my stance on #BTC since early 2023. I’ve been targeting the $170K range as the potential cycle top — but here’s the key: #BTC must close above $109K. Anything less? Just a #BullTrap and a retracement, nothing more. 📉🔻
— EGRAG CRYPTO (@egragcrypto)
5:40 AM • May 9, 2025
Ether Spikes 20% After Pectra Upgrade — Turning Point?
ETH fired off a 20% daily candle, surprising traders and liquidating $328M in shorts after the long-awaited Pectra hard fork went live.
Open Interest is up 21%, as traders eye long-term potential again.
Bob Loukas: “This may finally be the ETH turning point.”
Meanwhile, Ether ETFs posted $16.1M in outflows, dampening institutional enthusiasm.
“If ETH drops back to $2K, over $2B in longs could be wiped,” warns Daan Crypto Trades.