{"id":19680,"date":"2025-05-01T15:04:05","date_gmt":"2025-05-01T15:04:05","guid":{"rendered":"https:\/\/gold.creditcard\/bitcoin-bulls-prep-97k-resistance-showdown-as-gold-dips-8-from-highs\/"},"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:\/\/gold.creditcard\/es\/bitcoin-bulls-prep-97k-resistance-showdown-as-gold-dips-8-from-highs\/","title":{"rendered":"Bitcoin bulls prep $97K resistance showdown as gold dips 8% from highs"},"content":{"rendered":"

Bitcoin (BTC<\/a>) gained 3% on May 1 as a new month saw shorts struggle to keep price pinned.BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\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.\u201dS&P 500 1-day chart. Source: Daan Crypto Trades\/X<\/em><\/p>\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

$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>\n

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

BTC liquidation heatmap (screenshot). Source: CoinGlass<\/em><\/p>\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.\u201dXAU\/USD 1-day chart. Source: Cointelegraph\/TradingView<\/em><\/p>\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 with […]<\/p>","protected":false},"author":0,"featured_media":19681,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-19680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-finance"],"_links":{"self":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/19680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/comments?post=19680"}],"version-history":[{"count":0,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/19680\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media\/19681"}],"wp:attachment":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media?parent=19680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/categories?post=19680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/tags?post=19680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}