The start of the month was pretty bullish as the crypto market capitalization surged back above $3 trillion. Besides, the volume, which had dropped significantly, has begun to rise, which suggests the bulls are barging into the markets. Besides, the Bitcoin price has surged above $97,000 and continues to show massive strength as it displays signs of recovery. With this, the sentiments are flipping in favor of the bulls, which may revamp a strong ascending trend in the coming days.
Presently, the Bitcoin price is just 14% away from its ATH at above $109,000, and the recent change in the market sentiments has increased the optimism around the markets. Meanwhile, the Bitcoin volume that had dropped below $20 billion has risen back above $30 billion, which could increase the volatility of the token. The star token has been attracting more than half of the trading volume, as the BTC dominance remains on the rise. Now that the dominance has reached a 4-year high, a strong bull run is expected to begin anytime from now.
The BTC dominance chart seems to be on track to mark the previous highs above 70%. Interestingly, these levels were during the 2018 and 2021 bull runs, which suggests the BTC price is in the middle of the 2025 bull run. Therefore, the BTC price is believed to maintain a healthy ascending trend throughout May 2025 and probably rise back above $100K.
In the short term, the Bitcoin price is poised to face some bearish action, which could drag the levels below $96,000. However, this could be a short-term pullback as the price remains highly bullish in the long term, with the potential to reach $110K before the end of the month.
The weekly price action of Bitcoin suggests the token is in the middle of a strong bull run as the sentiments flipped in favour soon after the rebound from the support. Meanwhile, the CMF drops below 0, hinting towards a rise in the bearish strength within the markets. On the other hand, the weekly Bull Market Support Band (BMSB) is about to undergo a bullish crossover, which could validate the start of a bullish trend.
Therefore, the Bitcoin (BTC) price appears to be primed to rise above the psychological barrier at $100K in the next few days and reach $105K by the end of the month.
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