BTC Hits $109K+ Amidst ETF-Driven Momentum, Now Eyes the $113k Target This Week

The crypto market today has continued its bullish trajectory as investor sentiment grows bullish. The global crypto market cap at press time is up +1.23% at $3.44 trillion

Bitcoin price is trading at $109,549.62 at the time of writing, up 1.32% in the past hour and 6.56% over the past seven days. It is the world’s largest cryptocurrency with a market cap of $2.17 trillion and a daily trading volume of $47.14 billion.

Bitcoin price has been on a tear lately, and it doesn’t seem to be slowing down. The cryptocurrency is up more than 170% since it bottomed out earlier this year, and it could be on its way to even higher highs.

One analyst who is bullish on Bitcoin is Doctor Profit, who recently shared a technical analysis on X. According to Doctor Profit, Bitcoin price has formed a Golden Cross signal, an event with an 87.8% success rate on higher timeframes, for the third time in two years.

This signal, which occurs when the 50-week moving average crosses above the 100-week moving average, has historically been a strong indicator of further bullish price action. The previous two instances of the Golden Cross saw Bitcoin price surge by 118% and 163%, respectively.

Now, May 2025 marks a fresh Golden Cross at $110K, potentially signaling the beginning of another major bull market with BTC currently trading at $109,549.62, according to the latest data from Bitstamp.

Doctor Profit notes that in the past, after the Golden Cross, Bitcoin experienced rallies of 3.5%–8.5% weekly on average over periods of 3–5 months. Based on this trajectory, BTC could be advancing towards his forecast range of $117K–$120K.

The next key liquidity level to watch is $113K, which represents a 6% increase from the current price. If Bitcoin price can break through this level, it could continue to rally towards Doctor Profit’s targets.

The analyst concludes by saying that the CatyFlows BTC model, which tracks institutional flows, is also showing a price target of $115,000. This suggests that there is significant demand for Bitcoin from institutions, which could continue to drive the cryptocurrency higher.