![](\"http:\/\/www.thebusinesschain.com\/wp-content\/uploads\/2025\/05\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTIvMDE5Mzk3NTgtMjY5Mi03MTI3LTk1YWUtYmJjMzU4ZTM4NGRk.jpg\")
<\/p>\n<\/p>\n<\/p>\n<\/p>\n
<\/p>\n
Key takeaways:<\/p>\n
Bitcoin was up 4.3% on May 9, after breaking $100,000 for the first time since February.<\/p>\n<\/li>\n
BTC price gains trigger $800 million in short liquidations, the largest since 2021.<\/p>\n<\/li>\n
A bull flag on the weekly chart suggests a $182,200 target, with analysts predicting Bitcoin’s price can go as high as $1 million in 2025.<\/p>\n<\/li>\n<\/ul>\n
Bitcoin’s (BTC<\/a>) price is up 4.3% on May 9 as a fresh liquidity cascade sent BTC price soaring above $100,000 for the first time in over 90 days.<\/p>\n BTC\/USD rose as high as $104,150 during the late New York trading session on May 8, according to data from Cointelegraph Markets Pro<\/a> and Bitstamp. Crypto market sentiment, as measured via the Crypto Fear & Greed Index, has increased from 65 to 73 in the last 24 hours, suggesting increasing “greed” among investors.<\/p>\n 24-hour crypto market liquidations surpassed $925 million, including $800 million in short positions, marking it the largest short liquidation since 2021, according to monitoring resource CoinGlass<\/a>.<\/p>\n Several bands of seller interest are above the spot price, with ask-orders worth $2.85 billion sitting close to the all-time high of $109,500<\/a>. This suggests the ongoing rally still has room to run in the short term. <\/p>\n However, crypto analyst GemXBT noted that in daily timeframes, the BTC\/USD pair had triggered “overbought conditions” on the relative strength index (RSI<\/a>) indicator, which rose above 70.<\/p>\n Despite this, the analyst said strong support from the moving averages and the MACD moving above the signal line reinforced Bitcoin’s upside.<\/p>\n “Bitcoin (BTC) is currently in an uptrend, trading above the 5MA, 10MA, and 20MA, indicating strong bullish momentum. The MACD is above the signal line, supporting the bullish sentiment.”<\/p><\/blockquote>\n Bitcoin’s latest recovery has led market analysts and traders to set varied BTC price targets based on various analyses and sentiments. <\/p>\n Bitcoin’s current rally may continue toward $106,000, according to popular crypto analyst AlphaBTC. <\/p>\n In a technical setup shared on his X handle, the analyst showed<\/a> Bitcoin trading within an ascending parallel channel, with the short-term target being the all-time high daily close above $106,000.<\/p>\n “I am liking how these Fibonacci retracement levels line up with support, makes me think $BTC has another leg to 106K+ before it corrects.”<\/p><\/blockquote>\n Multiple analysts have also projected higher year-end targets for Bitcoin, including crypto trader Egrag Crypto, who says<\/a> BTC price could rise to $170,000 if it breaks above the all-time high of<\/a> $109,000<\/a>.<\/p>\n “I’ve been targeting the $170K range as the potential cycle top — but here’s the key: #BTC must close above $109K. Anything less is just a #BullTrap and a retracement, nothing more.”<\/p><\/blockquote>\n Meanwhile, Binance founder Changpeng Zhao expects<\/a> Bitcoin to reach between $500,000 and $1 million this bull cycle, driven by institutional adoption, growing government accumulation, and a pro-crypto US administration under President Donald Trump<\/a>.<\/p>\n From a technical perspective, the Bitcoin price action has led to the formation of a bull flag<\/a> pattern on the weekly timeframe, a bullish setup that forms after the price consolidates inside a down-sloping range.<\/p>\n The bull flag breakout occurred when the price jumped above the upper trendline at $88,000 on April 22. Bitcoin could now rise by as much as the previous uptrend’s height, or $182,200, a 75% gain from the current price.<\/p>\n 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.<\/p>\n","protected":false},"excerpt":{"rendered":" Key takeaways: Bitcoin was up 4.3% on May 9, after breaking $100,000 for the first time since February. BTC price gains trigger $800 million in short liquidations, the largest since<\/p>\nBitcoin wipes out liquidity in return to 6-figures<\/h2>\n
Traders set ambitious targets for Bitcoin price<\/h2>\n
BTC price bull flag targets $180,000 <\/h2>\n