Bitcoin’s price surged to $104,271 this week as a key momentum indicator flashed its strongest bullish signal since the 2024 halving. The Taker Buy Sell Ratio, which accurately predicted previous rallies, crossed into positive territory at 1.02 – historically a precursor to major upward moves.
This technical development coincides with Bitcoin narrowing its gap to the all-time high of $109,000, fueled by improved macroeconomic conditions. Recent US-China tariff reductions have boosted risk appetite across financial markets, with crypto assets benefiting from renewed institutional interest.
The Fear & Greed Index remains at 68 (greed) despite the price surge, avoiding the extreme greed zone that often precedes corrections. Analysts at CryptoQuant note this creates room for sustained growth, particularly with Bitcoin maintaining its yearly green candle pattern through May 2025.
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Bitcoin’s Technical Foundation Strengthens
Three critical metrics confirm Bitcoin’s bullish technical setup:
| Indicator | Current Value | Bullish Threshold |
|---|---|---|
| Taker Buy Sell Ratio | 1.02 | >1.00 |
| Fear & Greed Index | 68 | <90 (no extreme greed) |
| Yearly Price Change | +27% | Positive momentum |
Notably, the Taker Buy Sell Ratio’s move above 1.02 mirrors conditions seen before Bitcoin’s 2021 and 2023 breakouts. CryptoQuant’s Gaah emphasizes this metric reflects real-time market demand, showing actual money flowing into buy orders rather than speculative positioning.
Macroeconomic Winds Fill Crypto Sails
Global trade developments have created ideal conditions for Bitcoin’s ascent:
- US-China tariff reductions easing inflation concerns
- Institutional inflows reaching $2.1B weekly (Q2 2025 average)
- S&P 500 correlation coefficient dropping to 0.38
This decoupling from traditional markets positions Bitcoin as a unique hedge, with PlanB’s stock-to-flow model gaining renewed attention. The analyst’s updated projections suggest Bitcoin could reach $500,000 by 2028, though near-term targets remain conservative.
Analyst Consensus Points to Historic Rally
Market observers identify three key price drivers:
- Institutional adoption through spot BTC ETFs
- Upcoming protocol upgrades improving scalability
- Global liquidity injections from central banks
While PlanB’s long-term $500,000 prediction draws attention, most analysts focus on the $140K-$200K range for 2025. Crypto Rover’s historical analysis shows similar yearly green candles preceded 300%+ annual gains during previous bull markets.
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Market Impact: Bitcoin’s technical and fundamental alignment suggests increased volatility ahead. Traders should monitor the $104,000 support level while watching for sustained closes above $109,000 to confirm breakout validity. The current setup favors long-term holders but presents scalping opportunities in derivatives markets.
