$95,000 Becomes Critical Support as Market Eyes $109K All-Time High
Bitcoin is inching closer to a major price threshold that could determine whether it breaks out to new highs—or faces a short-term rejection. Currently trading around $96,730, Bitcoin must stay above the $95,000 level to keep bullish momentum alive, according to several crypto analysts.
In a May 6 market report, Bitfinex described $95,000 as the “lower boundary” of a three-month consolidation range that shaped Bitcoin’s market structure between November 2024 and February 2025. Holding this level could signal a bullish “structural shift,” potentially paving the way for a retest of the $109,000 all-time high reached on January 20, just before President Donald Trump’s inauguration.
Price Volatility Could Rise After Fed’s May 7 Decision
Analysts caution that Bitcoin’s near-term direction may hinge on the Federal Reserve’s interest rate decision scheduled for May 7. Historically, Fed announcements have triggered volatility in crypto markets, both before and after the policy results are released.
- CME Group’s FedWatch Tool shows minimal market expectations for a rate cut.
- An unexpected policy shift could either fuel or stall Bitcoin’s momentum.
Crypto analyst Thomas Fahrer warned on May 7 that around $400 million in short positions are at risk of liquidation if Bitcoin hits $98,000, potentially forcing a rapid price move upward. “Send it,” Fahrer said in a post on X.
Will June Deliver a New Bitcoin High?
Several market observers predicted earlier this year that June could be pivotal for Bitcoin. Real Vision’s chief crypto analyst Jamie Coutts forecast a potential surge to $123,000 in a best-case scenario. Meanwhile, Swan Bitcoin CEO Cory Klippsten suggested there’s a “50% chance” Bitcoin could hit a new all-time high by the end of June.
However, historical data tells a more cautious tale. Since 2013, Bitcoin’s average performance in June has been slightly negative, with a return of -0.35%.
Still, optimism is rising. The Crypto Fear & Greed Index has jumped 8 points in the past 24 hours, pushing further into “Greed” territory with a score of 67—just as Bitcoin nears the psychological $100,000 milestone.
Failure to hold $95,000, however, could reverse sentiment quickly. Bitfinex analysts noted that falling below this level might flip it into resistance again, increasing the chance of another correction.
