Bitcoin (BTC) Price Surges Through $106,000, Igniting Speculation of a New Bull Market

The price of Bitcoin (BTC) stole the show in the global crypto market once again with a sharp surge that took it through the $106,000 level today

The price of Bitcoin (BTC) stole the show in the global crypto market with a sharp surge that took it through the $106,000 level on Friday, May 19.

This significant rise sparked speculation among analysts and investors, who began to view BTC’s price movement pattern as a classic breakout signal—an indication that a long-term bullish trend could be just beginning.

Amid improving market sentiment and increasing institutional adoption, this price spike is a tipping point worth watching to determine the direction of Bitcoin’s next move.

Bitcoin Price Up 3.11% in 24 Hours

On May 19, 2025, Bitcoin rose to $106,805, or approximately IDR 1,757,062,045, showing a 3.11% increase over the past 24 hours.

Within that period, BTC fluctuated between a low of IDR 1,701,782,576 and a high of IDR 1,760,088,198, highlighting strong intraday momentum and renewed investor interest.

According to CoinMarketCap, Bitcoin’s market capitalization now stands at around $2.11 trillion, with trading volume in the last 24 hours also up 36% to $51.77 billion.

Read also: Robert Kiyosaki Predicts Bitcoin (BTC) Price to Reach $250,000, Here’s His Analysis!

BTC price shows classic breakout signals

On May 18, 2025, data from Cointelegraph Markets Pro and TradingView showed that the area around $103,000 acted like a price magnet for BTC over the weekend.

Currently (5/18), BTC/USD is barely showing upside or downside fluctuations, and is poised for a liquidity withdrawal, with price targets at $105,000 and $103,000, as confirmed by data from monitoring site CoinGlass.

Regarding the current market structure, traders are generally optimistic, anticipating a return of BTC prices to all-time highs and a new price discovery phase.

“Bitcoin target early next week: $116,000,” popular trader Alan wrote in his short-term prediction on platform X.

The included chart shows the lack of volatility that occurred in the BTC/USD pair over the past week.

“$BTC is currently in a narrowing triangle pattern with decreasing volume – this is a common indicator of a potential breakout,” Alan added.

Meanwhile, another trader named Mikybull Crypto described this market structure as a “breakout of an intraday diamond pattern.”

“With the latest price spike, we are seeing consistent Coinbase spot premiums. This is a good sign and shows there is strong demand,” said trader Daan Crypto Trades, referring to the support of buyers from the US driving Bitcoin’s return to the six-figure mark.

Concerns over Unbreakable Resistance

A more conservative view expects a temporary decline before the upward trend resumes.

Read also: Shiba Inu (SHIB) Price Predictions for 2025, 2030, and 2035 According to Crypto Experts!

“It’s been a slow week and Bitcoin has not been able to break the resistance level so far, which makes me still think that this downside scenario might still happen,” said trader CrypNuevo.

Trader Daan Crypto Trades also added that compared to the stock market, Bitcoin still hasn’t made it past the final resistance.

As reported by Cointelegraph, longer-term concerns include the possibility of a full retracement of the previous temporary rise, which briefly rescued BTC/USD from a multi-month low around $75,000 in April.

The level near $90,000 is also still a concern for market analysts.

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.