{"id":375,"date":"2025-05-01T15:04:05","date_gmt":"2025-05-01T15:04:05","guid":{"rendered":"https:\/\/cryptocoinnewslink.com\/?p=375"},"modified":"2025-05-01T15:04:05","modified_gmt":"2025-05-01T15:04:05","slug":"bitcoin-bulls-prep-97k-resistance-showdown-as-gold-dips-8-from-highs","status":"publish","type":"post","link":"https:\/\/cryptocoinnewslink.com\/?p=375","title":{"rendered":"Bitcoin bulls prep $97K resistance showdown as gold dips 8% from highs"},"content":{"rendered":"

<\/p>\n\n

\"Bitcoin<\/p>\n

Bitcoin (BTC<\/a>) gained 3% on May 1 as a new month saw shorts struggle to keep price pinned.<\/p>\n

\"Gold,
BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n\n

Bitcoin pressures shorts after 3% daily gains<\/h2>\n

Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD reaching $96,955 on Bitstamp, its highest since Feb. 22.<\/p>\n

Increasingly close to six figures, Bitcoin rose with US stocks at the Wall Street open as Microsoft gained 10% to become the world\u2019s highest-valued public company.<\/p>\n

Reacting, popular trader Daan Crypto Trades suggested that stocks may be on the cusp of a return to sustained bullish trajectory.<\/p>\n

\u201cStocks trade at a key area here,\u201d he wrote in ongoing X analysis<\/a>.<\/p>\n

\u201cI think the general rule is that if stocks do trade back above the .618 Fibonacci retracement after a big drop, the bottom is considered to be in.\u201d<\/p><\/blockquote>\n

\"Bitcoin
S&P 500 1-day chart. Source: Daan Crypto Trades\/X<\/em><\/figcaption><\/figure>\n

An accompanying chart showed the S&P 500 approaching monthly highs, delivering a V-shaped recovery.<\/p>\n

\u201cEven though $BTC has held up better recently, large moves by equities should still influence BTC & Crypto. So watch this zone,\u201d Daan Crypto Trades added.<\/p>\n

Fellow trader Skew watched exchange order book liquidity for signs of short-term moves to come.<\/p>\n

\n

$BTC<\/a>
Who’s going to be right this time?<\/p>\n

Longs or Shorts pic.twitter.com\/4xSu86WzSQ<\/a><\/p>\n

\u2014 Skew \u0394 (@52kskew) May 1, 2025<\/a><\/p><\/blockquote>\n

The latest data from monitoring resource CoinGlass<\/a> showed ask liquidity thickening around $97,000 at the time of writing.<\/p>\n

\"Bitcoin
BTC liquidation heatmap (screenshot). Source: CoinGlass<\/em><\/figcaption><\/figure>\n

Analyst on macro picture: \u201cShort term: bad for gold\u201d<\/h2>\n

The optimistic May open meanwhile came despite the macroeconomic outlook remaining uncertain as recession fears returned on the back of poor US GDP data.<\/p>\n

Related: <\/strong><\/em>Bitcoin eyes gains as macro data makes US recession 2025 \u2018base case\u2019<\/strong><\/em><\/a><\/p>\n

With the Federal Reserve under pressure to cut interest rates<\/a>, various crypto market commentators saw the chance for a stronger comeback in the coming months.<\/p>\n

\u201cBad macroeconomic data came along, through which the pressure on the FED is increasing to start the money printer again,\u201d Crypto trader, analyst and entrepreneur Micha\u00ebl van de Poppe told<\/a> X followers in part of a post on the day.\u00a0<\/p>\n

\u201cUltimately, good for risk-on assets. Short-term, bad for Gold.\u201d<\/p><\/blockquote>\n

\"Bitcoin
XAU\/USD 1-day chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n

XAU\/USD was down more than 8% versus its all-time highs seen in April, with oil also suffering.<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) gained 3% on May 1 as a new month saw shorts struggle to keep price pinned. BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView Bitcoin pressures shorts after 3% daily gains Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD reaching $96,955 on Bitstamp, its highest since Feb. 22. Increasingly close to six figures, Bitcoin rose […]<\/p>\n","protected":false},"author":1,"featured_media":376,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/posts\/375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=375"}],"version-history":[{"count":0,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/posts\/375\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=\/wp\/v2\/media\/376"}],"wp:attachment":[{"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocoinnewslink.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}