A lack of liquidity during “out of hours” trading contributed to the move, which once more came on the back of positive rumors over a US-China trade deal.$BTCalmost tagging $105K off again headlinesmarkets will want to see fruition of Trumps comments regarding a path forward with trade between US & ChinaShipping data does already suggest insiders know hence container volume has briefly picked up again pic.twitter.com/AijqalylwS— Skew Δ (@52kskew) May 10, 2025Now, popular trader and analyst Rekt Capital confirmed that Bitcoin could even kickstart a return to all-time highs and price discovery.
BTC price targets include $160K nextOn X, popular trader HTL-NL argued that the current push toward all-time highs would end as a “fakeout” to trap late longs.“Will $BTC close/open the week remaining within the range, will it do a 'fake out (UTAD)' or was this really a reaccumulation range as many want to believe,” he wrote on the day. “To be honest, although I still favour the first 2 options based on M/Q charts, it being reaccumulation is not impossible.”BTC/USDT 1-hour chart.
Source: Rekt Capital/XAn additional update calculated the current Bitcoin bull market as 85.5% complete, yet with the most erratic upswings still to come.#BTC Bull Market Progress:▓▓▓▓▓▓▓▓░░ 85.5%(Progress will speed up on Parabolic advances)$BTC #Crypto #Bitcoin pic.twitter.com/Qe88NVmo2z— Rekt Capital (@rektcapital) May 9, 2025A look at the latest exchange order book data from monitoring resource CoinGlass showed a large cloud of asks clustered around the area immediately below $106,000 at the time of writing.
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Author / Journalist: Cointelegraph by William Suberg
The story "Bitcoin must close the week above this level to start 'price discovery 2'" has 536 words across 20 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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