Bitcoin Today — May 21, 2025
Bitcoin Today — May 21, 2025
Overview
As of May 21, 2025, Bitcoin is trading at around $107,000, near its all-time high of $109,000 (reached in January). The market capitalization is approximately $2.13 trillion, and the 24-hour trading volume stands at about $50.8 billion. Bitcoin’s dominance of the cryptocurrency market is around 60–61%.
| Metric | Value |
|---|---|
| BTC Price | $107,000 (~1.4% below ATH) |
| Market Capitalization | $2.13 trillion |
| 24h Trading Volume | $50.84 billion |
| BTC Dominance | 60–61% |
Technical Analysis: Trends and Indicators
Overall trend: The technical picture for Bitcoin at the end of May 2025 is strongly bullish. The price has confidently broken through previous resistance levels and is consolidating near the upper end of the range. An ascending triangle is forming: recent weekly highs remain in the $108,000–109,000 area, while higher lows form rising support. The ~$106,000 level has proven a strong line: during recent pullbacks, noticeable buying emerged at this area. Key resistance is now at $108,000–109,000 (the previous all-time high). Analysts note that a daily close above $108K would confirm a breakout and open the way to new record highs. Upon a breakout, near-term growth targets are projected in the $112,000–120,000 range, depending on trading volumes and external factors. Key support levels have shifted upward: the short-term market is holding at ~$104,500, with stronger psychological support at ~$100,000. Even with a pullback to these levels, buyers are actively accumulating, as seen by volume spikes around $105,000–106,000. Earlier, analysts also identified the $98,000 zone as a key long-term support, but this level hasn’t been tested during the current uptrend.
Indicators and moving averages: Technical indicators confirm the bullish momentum.
- RSI (daily): ~68 (above 60) — shows strong bullish momentum but not overbought (overbought zone is above 70).
- On the 4-hour chart, RSI has also risen (from ~55 to ~62) during the latest price surge.
- MACD (daily): has produced a bullish crossover after crossing the signal line, signaling upward reversal.
- Long-term moving averages (50-day SMA at ~$88,500 and 200-day EMA) remain below the current price. A classic “golden cross” is forming, which historically has been followed by further price increases.
Overall, the separation from long-term averages and positive RSI/MACD signals indicate a strong uptrend, although short-term volatility is possible after rapid growth.
Market sentiment and volumes:
- Open interest in BTC futures reached a record $76 billion by May 21, reflecting strong market participant interest.
- Large holders (“whales”) are increasing their positions — the number of addresses with more than 1 BTC rose by ~12% in just two days (May 19–20), even as prices increased.
- Exchange inflows remain moderate: recorded inflows to exchanges are offset by even larger outflows to cold wallets, meaning net accumulation continues.
- Funding rates on derivatives exchanges are close to neutral, suggesting this rally is mainly spot-driven, not driven by excessive leverage.
- Trader communities are actively discussing a potential “melt-up” above $108K and searching “BTC to 120K.”
There is still caution: if Bitcoin fails to break through resistance, a pullback to key supports ($100K) is possible, seen as a healthy correction within a bullish trend.
Key News and Developments
- Institutional Investments and ETFs:
The crypto market is supported by a steady influx of institutional capital. May saw significant inflows into Bitcoin spot ETFs — U.S. spot Bitcoin ETFs have posted consecutive daily inflows (e.g., +$329 million on May 20, fifth straight day of net inflows). Combined inflows into such funds since the beginning of May total tens of billions of dollars. Futures open interest has hit an all-time high of ~$76 billion. Analysts highlight that institutional capital inflows and the launch of new investment products (ETFs, trusts) are a key driver of this rally.
- Regulation and Policy:
The regulatory climate in 2025 remains generally positive for cryptocurrencies. The U.S. Senate advanced the GENIUS Act for federal stablecoin regulation — this week, the bill passed 66–32, a major step toward clear digital asset rules. The new U.S. administration is crypto-friendly: in early 2025, an executive order established a strategic national Bitcoin reserve. Easing global tensions and macroeconomic stabilization are also drawing investors to risk assets. Overall, favorable regulatory changes and clearer rules are boosting trust and reducing fears of crackdowns.
- Actions by Major Investors:
Large institutions are showing strong support for Bitcoin. Investment giant Blackstone disclosed crypto holdings for the first time — in its Q1 2025 report, the company revealed acquisition of 23,094 shares of the iShares Bitcoin Trust (BlackRock’s ETF) and ~9,889 shares of the ProShares Bitcoin Futures ETF. This is Blackstone’s first public move into Bitcoin and is seen as a significant market signal. MicroStrategy (now “Strategy”) increased its BTC stash to 576,000 BTC (about 2.7% of total supply). JPMorgan in May stated that it prefers Bitcoin over gold and expects BTC to outperform gold throughout the year — a shift from previous caution. These developments further increase market confidence and capital inflows.
- Exchange News and Infrastructure:
Leading U.S. crypto exchange Coinbase suffered a cyberattack in May: hackers accessed some client data by bribing overseas call center staff. Coinbase estimated losses at $180–400 million but refused to pay ransom, instead offering a $20 million bounty for information on the hackers. On May 19, Coinbase was added to the S&P 500 index, becoming the first crypto company to join the prestigious list — a historic event, symbolizing crypto’s entrance into the financial mainstream. Other large exchanges (Binance, Kraken) also faced social engineering attacks, but security measures prevented breaches.
Analyst Forecasts and Expert Opinions
Most analysts remain optimistic about Bitcoin’s near-term prospects. The current market recovery is viewed as robust, driven by real factors (institutional demand, regulatory clarity). Many experts say breaking the previous all-time high (~$109K) is just a matter of time and will trigger another growth wave. Sathvik Vishwanath (Unocoin CEO) believes a move above ~$109,500 would open the path to $112,000 in the short term. Technical models suggest movement toward $120,000 in Q2 2025 if momentum continues.
- Standard Chartered Bank highlights that institutional demand and favorable conditions could lift BTC to ~$120K in the coming months and up to $200K by the end of 2025.
- Bernstein and ARK Invest have previously forecasted $150K–200K for Bitcoin in 2025, citing the halving and institutional inflows.
At the same time, analysts warn of volatility. After the recent rally, corrections and consolidation are possible, as seen in previous cycles. Finance Magnates projects $150K–180K by end-2025 but notes corrections to the $91K–98K area may occur before further growth. Short-term pullbacks (such as to $100K) are not ruled out and may serve as healthy resets. Key to the bull case is holding major support — currently $105K–106K. The latest weekly close (~$106,500) was the highest ever. Overall, sentiment remains optimistic: the market is building a “new base” at high levels, with strong technical signals and institutional inflows creating a foundation for new records in the coming months.
Conclusion
In May 2025, the Bitcoin market is in a phase of sustained bullish growth, supported by institutional demand, positive news, and a favorable regulatory environment. The key challenge for bulls is a confident breakout above the all-time high, which could trigger a new wave of growth.
Sources: The Economic Times, CryptoSlate, Finance Magnates, FingerLakes1, Rio Times, Cryptonews, Los Angeles Times, and others. Data as of 21.05.2025.