empty
29.05.2025 03:04 PM
Bitcoin recovers to $109,000

Bitcoin quickly rebounded to the $109,000 mark today. This rapid surge, especially following yesterday's dip to around $106,600, once again highlights the strong interest from large players who take advantage of market pullbacks to accumulate positions.

This image is no longer relevant

The observed recovery not only demonstrates Bitcoin's resilience to short-term shocks but also indicates the presence of significant capital ready to support the asset at the first signs of correction. Whales are likely viewing such dips as strategic buying opportunities, which in turn reinforces Bitcoin's position in the market.

Glassnode data supports this view: the total open interest in BTC futures across major exchanges has surged to a record $46.2 billion. This unprecedented level of activity in the derivatives market reflects Bitcoin's growing institutionalization and deeper integration into the traditional financial system.

The increase in open interest may be driven by both new participants entering the market and existing players expanding their positions, either to profit from crypto volatility or to hedge their risks. This institutional momentum has played a key role in supporting the current performance of the market.

However, record-high open interest brings both opportunities and risks. On one hand, it indicates market maturity and improved liquidity, which facilitates large transactions and reduces transaction costs.

On the other hand, a high concentration of open positions may create the conditions for sharp price swings and so-called "liquidation cascades," where mass stop-loss triggers lead to further price drops. That's why market participants — especially smaller traders — need to remain cautious and analyze the situation carefully.

Still, as noted above, the current trend suggests continued optimism among major holders, which is undeniably a positive signal for the entire crypto community. The key question now is how long this bullish trend will last and what factors might influence its future trajectory.

Trading recommendations

This image is no longer relevant

Bitcoin (BTC): From a technical standpoint, buyers are currently targeting a return to the $108,400 level, which would open the path toward $109,900, and from there, it's a short leap to $110,700. The furthest bullish target sits at the $111,400 area. A breakout above it would signal a strong continuation of the bull market.

If Bitcoin falls, buyers are expected to step in at the $107,000 level. A move back below this zone could send BTC quickly toward $106,200. The furthest bearish target is around $105,200.

This image is no longer relevant

Ethereum (ETH): A confirmed hold above the $2,747 level opens the direct path to $2,791. The most distant bullish target lies around $2,838 — a breakout above which would also confirm a strong bull market structure.

If ETH declines, buyers are expected at the $2,708 zone. A drop below this area could push ETH down to $2,667, with the furthest bearish target near $2,625.

What's on the chart

  • Red lines represent support and resistance levels, where price is expected to either pause or react sharply.
  • Green line shows the 50-day moving average.
  • Blue line is the 100-day moving average.
  • Lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Pavel Vlasov
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

One more step in developing decentralized crypto apps

Bitcoin is holding up quite well, even around the $120,000 mark, which keeps the chances of further growth alive, with a move toward $126,000 possible in the coming days. Ether

Jakub Novak 14:56 2025-08-13 UTC+2

Ethereum Foundation sells Ether

While Ether's price is just a step away from reaching a new all-time high, the Ethereum Foundation has begun gradually selling its holdings. This move certainly raises some eyebrows

Jakub Novak 09:35 2025-08-13 UTC+2

Trading Recommendations for the Cryptocurrency Market on August 13

Bitcoin is holding relatively steady above the 118,000 mark, maintaining the chances of breaking through the 120,000 level in the near term. Ethereum appears clearly aimed at updating its all-time

Miroslaw Bawulski 08:56 2025-08-13 UTC+2

Bitcoin quickly loses all recent gains

Yesterday, Bitcoin and Ethereum quickly gave up all their gains after large purchases seen during Asian trading hours. However, this profit-taking can be considered largely speculative, as major market players

Jakub Novak 10:19 2025-08-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on August 12

Ethereum has been experiencing significant volatility lately. Yesterday, we saw a sharp surge in Ethereum's value, following Bitcoin's lead, but this surge quickly subsided, with prices returning to more stable

Miroslaw Bawulski 09:49 2025-08-12 UTC+2

Bitcoin reaches $122K

Since the start of Asian trading, Bitcoin has climbed from $118,000 to $122,000, with no signs of selling pressure in sight. Ethereum has topped $4,300, supported by positive macroeconomic news

Jakub Novak 09:22 2025-08-11 UTC+2

Trading Recommendations for the Cryptocurrency Market on August 11

Bitcoin is aiming for a new all-time high, currently trading above $122,000. Ethereum is also nearing its record of over $4,400, suggesting the continuation of a bullish market that appeared

Miroslaw Bawulski 08:38 2025-08-11 UTC+2

Bitcoin touches $117,500

During this morning's session, Bitcoin updated its level to $117,500. The key task for buyers now will be to keep trading above the $116,000 mark. Ethereum also refreshed its high

Jakub Novak 11:44 2025-08-08 UTC+2

Trading Recommendations for the Cryptocurrency Market on August 8

Earlier this week, many were worried that Bitcoin might plunge sharply toward the 110,000 level, fearing a deeper correction toward 100,000. However, market sentiment has since shifted in the opposite

Miroslaw Bawulski 09:07 2025-08-08 UTC+2

Cardano has the potential for a correction to test its pivot level in the near future. Friday, August 08, 2025.

Cardano – Friday, August 08, 2025. With the EMA(50) positioned above the EMA(200) and the RSI(14) indicator in Extreme-Bullish conditions, it appears that buyers are currently dominant. However, the appearance

Arief Makmur 07:39 2025-08-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.