In 2025, after eight attempts, Bitcoin did not end the day above $106k. After Moody’s lowered the country’s credit rating to Aa1, Bitcoin rose by almost 2% but its upward climb did not last.
Legislative Progress
The Business Insider article, stating that the advancement of the GENIUS Act marks a milestone for U.S. digital-asset rules, has given a boost to the sector. Bitcoin welcomed and appreciated the efforts to regulate cryptocurrencies.
Institutional Support
Last week, crypto spot exchange-traded funds added $7.5 billion in new investments. At present, BlackRock’s IBIT manages over 633,212 Bitcoin which is 3% of all available Bitcoins. By allowing wealth clients to purchase Bitcoin directly, JPMorgan is playing a significant role in spreading Bitcoin in financial institutions.
Market Indicators
Based on Edul Patel’s analysis, Bitcoin will reach a new all-time high if it can close above $107,500 each day. If the price falls, first support is at $102,750; $100,000 would support prices if the resistance keeps them down.
Macro Factors
Inflation for March dropped to 2.3%, but rates for Treasury bonds are still not low since futures expect just two interest rate cuts this year. Most analysts believe that when real yields are above 2%, it usually lessens risk appetite among investors, but in recent times, Bitcoin has acted differently as a safe haven for money.
Persistent Resistance
Since volatility is close to its lowest point and options expire on May 30, Bitcoin is encountering short-term instability. The impact of economic news and new laws on existing institutions may help determine whether the $106k mark can be broken.
