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The Bitcoin price rose a fraction of a percentage in the last 24 hours to trade at $104,035 as of 12:00 a.m. EST on a 5% jump in trading volume to $47 billion.
The slight uptick in the BTC price comes after US and China trade officials announced a deal following two-day talks in Switzerland over the weekend. As part of the deal, China and the US have agreed to lower the tariffs on each other’s products for 90 days.
BREAKING: The US and China have reached a trade agreement on a 90 day pause.
The U.S. will cut tariffs on Chinese goods to 30% (from 145%) for 90 days, while China will lower its levies to 10% (from 125%) for 90 days, according to US Treasury Secretary Bessent. pic.twitter.com/5c7frxxNoW
— Sawyer Merritt (@SawyerMerritt) May 12, 2025
Bitcoin Price Breaks Out From Double Bottom, Eyes $110K
The BTC/USDT pair shows signs of a renewed bullish surge after completing a classic double bottom pattern and clearing multiple resistance levels. Bitcoin is trading at $104,035, with bulls targeting the psychological $110,000 barrier.
The daily chart paints a strong bullish picture after forming a double bottom near the $80,000 support area. This pattern, widely viewed as a bullish reversal signal, confirms a shift in market structure.
Following the formation of that pattern, Bitcoin went on to surge past key resistance levels around $95,000 and $100,000.
Technical indicators are flashing green, but not without caution. The Relative Strength Index (RSI) currently reads 73.98, indicating that Bitcoin is overbought. While this underscores strong buying interest, it also opens the door to potential short-term pullbacks or consolidation.
BTCUSDT Analysis Source: Tradingview
Bitcoin Faces Crucial Test -Will $110K Break or Trigger A Reversal?
Supporting the uptrend are two visible Fair Value Gaps (FVGs), one around the $91,000 mark and another near $96,000. These gaps often act as magnets for price action, offering traders potential re-entry points should a retracement occur. As such, BTC could revisit these levels before the next leg up.
From a broader perspective, the $110,000 zone represents a major hurdle. Bitcoin previously struggled to hold this level during its December 2024 run, and it now stands as the final barrier before fresh all-time highs become possible. A confirmed breakout above this level might propel prices toward $120,000 in the medium term.
However, traders should be cautious. Overbought conditions, coupled with low-volume pullbacks, could create fake outs. A breakdown below the $95,000 support zone would invalidate the short-term bullish outlook and reintroduce uncertainty.
New BTC-Themed Meme Coin Presale Heads For $6M – Next Crypto To Explode?
With Bitcoin in a bullish mood, excitement is building around a new BTC-themed meme coin called BTC Bull Token (BTCBULL) that is fast-growing in its presale, and has already raised over $5.6 million.
BTC Bull Token is a meme coin unlike all of those that came before it, and offers its investors free Bitcoin via airdrops. The rewards are tied to Bitcoin’s price growth, giving the token genuine value beyond just hype.
Built on the belief that BTC will soar to $1 million per coin and beyond, the project has set specific milestones for the Bitcoin price that will trigger the airdrops.
Don't fade the bull. 🐂💨 pic.twitter.com/EanKfbR77z
— BTCBULL_TOKEN (@BTCBULL_TOKEN) May 10, 2025
BTCBULL holders will start receiving rewards once Bitcoin reaches $150,000, with additional Bitcoin airdrops triggered at every $50,000 milestone thereafter, up to $1 million. The size of each reward depends on how much holders invested during the presale, giving early backers a clear edge.
A major Bitcoin milestone is the $250,000 mark, where 10% of the total 21 billion BTCBULL tokens will be airdropped. This major distribution could offer substantial profits for long-term holders, especially as signs suggest the next bull run may already be in motion.
Popular crypto YouTube channel 99Bitcoins, with more than 725k subscribers, predicts that BTCBULL could surge by 10X after it launches.
Secure BTCBULL Now And Stake For 73% APY
BTCBULL is gaining traction with a massive 73% annual staking return, offering a strong passive income opportunity for early investors.
BTCBULL token burns will also occur along the way, increasing the meme coin’s scarcity. The token burns will follow the same milestone-based approach as the airdrops, starting at $125,000 and repeating for every $25,000 increase thereafter, putting upward pressure on the BTCBULL price.
Currently priced at just $0.002505, BTCBULL is available via a simple widget embedded on the project’s website, and can be bought with either crypto or bank card.
Buy now before the next price increase in under 1 hour.
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