Bitcoin yet to hit $150K because outsiders are ghosting — Michael Saylor

Bitcoin was back in the news this week after surging past $104,000 before retracting a bit. The rally, which started around May 7, propelled the world’s largest cryptocurrency from $93,000 to as much as $104,000 by May 9.

After retreating 4% in the following 24 hours, Bitcoin still maintained a weekly gain of around 6%. That short-term action is now driving larger predictions, including one that forecasts Bitcoin will increase another 10 times in value.

Another 10x Jump ‘Inevitable,’ Expert Says

Muneeb Ali, the brains behind the Bitcoin Layer 2 solution Starks, thinks the next giant leap is imminent. In his opinion, Bitcoin has already taken three distinct steps in its price trajectory: from $100 to $1,000, then to $10,000, and then to over $100,000.

Ali pointed out how each move took more time but followed a familiar pattern. In 2013, Bitcoin climbed from $100 to $1,000 in four months. Four years later, in 2017, it reached $10,000. By December 2024, it had crossed the $100,000 mark. Based on that path, Ali said another 10x jump to $1 million isn’t just likely — it’s “inevitable”. However, he didn’t explain what would actually drive that kind of rise.

New Projection Sees $116K Next Month

The latest Bitcoin price forecast by CoinCodex has the price increasing by 13% and hitting $116,600 on June 8, 2025. Technical analysis indicates a positive trend, with 20 of the past 30 days (67%) closing in the positive. During the same timeframe, Bitcoin recorded 6.50% price volatility.

Bitcoin has surged to $104,300, confirming the uptrend and reinforcing the bullish outlook that many analysts projected for 2025. This move places BTC deep into range-highs territory, with the next major challenge now clearly in sight: the all-time high at $109,000. The market’s strength comes on the back of strong technical performance and increasingly optimistic sentiment, as BTC continues to lead the crypto rally and altcoins follow suit.

On-chain data from CryptoQuant adds further weight to the bullish narrative. One standout metric highlights the growing confidence among large holders: the absolute difference between the Realized Price of new whales and old whales now stands at $59.7K. Specifically, new whales have entered the market at an average price of $91.9K, while old whales’ basis remains at $32.2K. This translates to a 185% relative spread to the long-term holder (LTH) basis—a massive divergence.

This wide gap signals that a new wave of high-conviction buyers is entering the market at significantly elevated prices. Unlike the cautious whale accumulation during previous cycle lows, this phase reflects strong belief in continued upside, even at premium levels. It’s a clear sign that institutional FOMO may be kicking in.

Bitcoin Faces Resistance At $104K As Whale Activity Signals Growing FOMO

Bitcoin is currently encountering resistance around the $104,000 mark—a level that may take time to break as it represents a critical barrier before entering price discovery above the all-time high near $109,000. The recent rally has shown remarkable strength, but as BTC consolidates just below its ATH, some selling pressure is expected. A successful breakout could lead to a swift surge beyond $109K; however, failure to do so may result in short-term consolidation or retracement.

Top analyst Axel Adler shared key on-chain insights on X that highlight the evolving psychology of Bitcoin’s largest holders. According to Adler, the absolute difference between the Realized Price of new whales ($91.9K) and old whales ($32.2K) is $59.7K, representing a 185% relative spread to the long-term holder (LTH) basis. This sharp divergence reveals that new “whales” are entering the market at nearly three times the price of early entrants.

In comparison, the same spread in November 2022 was only 62%, indicating more cautious accumulation near the market bottom. The current surge to 185% reflects rising confidence and FOMO, with large buyers willing to accumulate even at elevated prices. For context, during the 2021 cycle peak at $63K, the spread widened to 437%.

This trend suggests that the market is entering a more aggressive accumulation phase, where belief in higher prices is driving demand despite the premium. If bulls manage to absorb the resistance around $104K, it could mark the start of a parabolic move—fueled not just by momentum, but by conviction from both retail and institutional players betting on a new Bitcoin all-time high.

BTC Price Analysis: Key Levels To Watch

Bitcoin is trading around $103,000 after reaching a high of $104,300 earlier today. The 4-hour chart shows BTC facing resistance at the $103,600 level, which aligns with a key supply zone from late December 2024 and early January 2025. This area acted as a previous rejection point during the last major rally and is now being tested again as potential resistance.

BTC’s recent surge from the $87K–$90K consolidation zone has been aggressive, breaking above both the 200 EMA and 200 SMA (currently at $91,806 and $89,400, respectively) with strong volume. This confirms bullish strength and trend continuation, suggesting that buyers are still in control. However, the current range between $103K and $104K is historically significant, and bulls may need to absorb selling pressure before attempting a move toward the all-time high near $109K.

If BTC consolidates above $100K and holds this level as new support, it would strengthen the case for continued upside. On the flip side, failure to break above $103,600 cleanly could lead to a short-term pullback. Market structure remains bullish overall, but this resistance zone will be critical in determining whether Bitcoin enters price discovery or pauses for accumulation.

Featured image from Dall-E, chart from TradingView

Ethereum just blew through several resistance levels in a matter of hours, igniting the cryptocurrency market with a stunning 31% surge. The 200-day moving average, which frequently distinguishes between bullish momentum and bearish continuation, is just below the $2,300 mark, which the rally has propelled ETH above.

According to the price action, as of right now, this may be the start of a significant structural reversal rather than merely a random spike. With robust volume supporting the move, Ethereum has technically broken through the 50 EMA, 100 EMA and even 150 EMA in a single sweep. Although RSI is currently just above 81, which would typically indicate caution as it is entering overbought territory. However, explosive moves such as these RSI extremes can last longer than usual.  Chart by TradingView">

The enormous candle not only breaks the previous downward trend but also makes way for a move toward $2,600 and higher, with the psychological $3,000 zone as the potential next macro resistance level. When Ethereum showed this kind of rally behavior previously, it resulted in months of steady upward movement.

In general, investor sentiment toward Ethereum is rapidly improving, particularly as institutional interest in the post-ETF narratives grows and ETH/BTC parity is given renewed attention. Ethereum is probably going to follow Bitcoin's lead as it gets closer to $100,000, taking advantage of positive market sentiment.

In the short term, it would not be shocking to see a slight decline or consolidation around $2,300 to $2,400. Nonetheless, Ethereum would validate the breakout and change the overall trend to a bullish one if it closed several daily candles above the 200 EMA. For traders hoping to ride this wave, cautious accumulation and scaling into strength may be the best course of action.

Shiba Inu revitalized

Based on its most recent price action, Shiba Inu is displaying renewed strength on the charts with a potential breakout toward the $0.00002 level. The asset has effectively surpassed significant resistance levels, breaching the $0.000014 zone and advancing toward the 200-day exponential moving average (EMA), which is presently hovering around $0.000016. 

Throughout its downward trajectory, this long-term EMA has served as a resolute ceiling for SHIB, and it will be difficult to break through. The recent increase in purchasing volume, however, suggests that the meme coin is gaining traction and interest. This most recent price move is consistent with increases in on-chain and market volume, suggesting that it is backed by market activity and not just a speculative bounce. 

The move to $0.00002 is much more likely if SHIB can close a daily candle above the 200 EMA with sustained volume support. Given the historical price congestion and relative thinness in the $0.000016-$0.00002 zone, SHIB may move swiftly closer to its target if the 200 EMA breaks.

Since momentum indicators like the RSI are still rising and have not yet entered extremely overbought territory, there is still opportunity for additional growth before a significant decline is anticipated. Although the psychological $0.000018 level has served as both support and resistance in the past, traders should continue to monitor possible resistance there.

In other words, Shiba Inu is preparing for a significant run, but it is facing one of its most difficult technical obstacles. The price of $0.00002 is not only feasible but may arrive quickly if bulls can maintain pressure and break the 200 EMA. If this breakout is confirmed or another rejection is indicated, the next few trading sessions will be critical. 

Bitcoin recovers

Unquestionably, bulls enjoyed a significant psychological victory, with Bitcoin's recent breakout above $100,000, but do not celebrate just yet — this move could be a temporary overextension rather than the start of an unstoppable rally. On the price chart, Bitcoin taps out close to $104,000 after cleanly breaking through the $98,000 resistance.

For Bitcoin, this pattern is not uncommon and frequently comes before consolidation or significant declines. This is a warning sign for volume. The volume should be increasing rather than decreasing for a move of this magnitude. The Relative Strength Index (RSI), which typically identifies local peaks at 75, is likewise well into overbought territory.

Furthermore, the current range of important support zones is $98,000 to $95,000. A swift decline back to the $92,000 or even $90,000 region might occur if Bitcoin is unable to maintain above this range. Bulls must defend the 50 EMA, which is approximately $93,000. Long term, the route to $100,000+ is still open, but maintaining a strong rally will probably require more time consolidation and volume.

The Dogecoin price appears to be on a continued rebound, with bulls regaining some control over the market after weeks of sideways trading and downward pressure. However, the momentum is being tested as strong resistance builds around the $0.205 level. A recent analysis highlights this crucial zone and outlines the roadmap for Dogecoin’s next move. 

Dogecoin Price Recovery Faces Critical Resistance

TradingView crypto analyst Lingrid recently shared a technical analysis featuring a classic continuation pattern unfolding for Dogecoin. The analyst revealed that the Dogecoin price is attempting a recovery after rebounding from a key ascending trendline and breaking out of a Falling Wedge pattern. 

Following this, Dogecoin is now retesting the breakout level around $0.175, where both the wedge resistance and ascending trendline converge. The cryptocurrency has also formed a higher low structure on its price chart. Notably, this breakout zone is critical, as holding above it would confirm the breakout and set the stage for potential gains. 

Lingrid has revealed that traders are currently watching closely for continuation toward the next resistance area. The $0.19 level has been set as the next immediate breakout target, aligning with the top of the previous range and the midpoint of the broader resistance area. 

A push beyond $0.19 would open the door for a run toward the range between $0.2 – $0.21, a key resistance area where selling pressures could intensify. While Dogecoin’s structure remains relatively bullish with higher lows forming, Lingrid has also cautioned that overhead resistance near $0.19 and $0.2 could slow down the momentum. 

Notably, Dogecoin’s trading volume will also play a key role in its price action and future moves. As the price approaches the wedge apex, fluctuations in volume could either sustain the strength of the rally or weaken it.

DOGE To Decline Further If Support Fails

Since the beginning of this year, the Dogecoin price has recorded its fair share of unexpected price declines and volatility. While Lingrid’s analysis shares encouraging signs of a potential price recovery and bull rally, Dogecoin’s breakout remains at risk.

If its price fails to hold the critical support zone at $0.175, especially with a strong candle close below this level, the projected breakout could be invalidated. This would, in turn, potentially lead to a steeper price breakdown toward $0.15, representing a 25% decrease from its current market value of $0.2. 

Lingrid also mentions that a failure to maintain buyer interest near the wedge apex and weakening volume could also contribute to market indecision, making a swift recovery less likely. As a result, traders are advised to watch the $0.175 zone closely as a key breakout point that will determine whether Dogecoin resumes its climb or faces renewed downward pressure.

On May 9, blockchain monitoring firm Whale Alert identified a massive transfer of 29,532,534 XRP, worth $69,536,183, to leading U.S.-based crypto exchange Coinbase.

This large transaction has raised eyebrows as it coincides with the ongoing bull market run, prompting investors to closely monitor on-chain activities.

Whales already dumping?

According to the data, the massive transfer was executed by an unknown wallet address in a single transaction, suggesting a possible sell-off attempt.

Although the exact motive behind the transaction remains unclear, it has sparked concern within the XRP community, especially as it aligns with a period of bullish momentum for the token.

Despite the transfer, XRP continues to exhibit strong bullish indicators. Over the past 24 hours, CoinMarketCap data shows that XRP has experienced a 3% daily surge, following an 8% gain the day prior. As of press time, XRP is trading at $2.35.

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In addition to the price uptick, XRP has also recorded a 60.35% surge in trading volume, reflecting heightened activity among both retail and institutional traders.

While large transfers to exchanges are often associated with intent to sell, this specific transfer has the XRP community questioning whether whales are starting to take profits after the recent bull run.

What next for XRP?

XRP’s current positive price trend has fueled investor optimism, with expectations that the token could reach the $3 mark soon. Longer-term, some believe XRP could hit a new all-time high (ATH) before the onset of the next bear cycle.

However, if large holders begin to sell off holdings, this could stall XRP’s bullish trajectory. Whale profit-taking can lead to a spike in supply, outpacing demand and potentially driving prices down.

Such actions might also trigger panic selling among smaller, less experienced investors, leading to further downward pressure on the token’s price.

The newly launched DOOD token from Ethereum-based NFT project Doodles has seen a steep drop in market capitalization following its May 9 airdrop on the Solana network.

According to data from DEX Screener, DOOD’s market cap fell from over $100 million shortly after launch to around $60 million at the time of writing.

Overall, the much-anticipated airdrop was “[d]efinitely underwhelming,” a crypto commentator said in a May 9 X post.