On May 12, Bitcoin's price broke through $104,000, marking a 25% surge since April 2. This increase occurred even as major stock indexes, like the S&P 500, experienced declines. Bitcoin's resilience has been notable amidst market sell-offs and tariff negotiations.
In April, the S&P 500 reportedly declined almost 1%, while Bitcoin rose. Some considered Bitcoin as a means to avoid fees on foreign trade, although there's no concrete evidence of countries using it for this purpose. Crypto expert Daan Crypto Trades speculated about potential trade settlements via Bitcoin, gaining traction due to BTC's stability during supply chain issues.
Rose Premium Signals' chart analysis indicates Bitcoin is testing a crucial barrier at $105,000. A breakdown could lead to a retreat towards $100,000. Market observers anticipate investors will buy dips if Bitcoin breaks resistance, noting that previous rallies saw dips as entry points, with runs lasting months, not days.
Traders still see risks such as rate increases and crypto regulations. However, increasing ETF flows and fortified wallets provide reassurance. If Bitcoin continues to outperform stocks, it could solidify its position as a global market alternative, with traders watching key levels near $105,000.
This article is based on our author's analysis of materials taken from the following resources: various market reports and analyses from April 2 to May 12.