Key factors:
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Bitcoin and gold transfer increased in step amid jitters over Japan’s debt downside attain “boiling level.”
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$108,000 stays a eager goal for Bitcoin bulls amid ongoing company shopping for.
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Some nonetheless see the present BTC worth uptrend coming to an abrupt finish.
Bitcoin (BTC) stored up stress on $108,000 on the Could 21 Wall Road open as a dealer flagged a number of bearish divergences.
Bitcoin joins gold in Japan debt response
Knowledge from Cointelegraph Markets Professional and TradingView confirmed BTC/USD returning to close the highest of its intraday vary because the US buying and selling session started.
After its highest-ever day by day shut, BTC/USD appeared more and more primed for a rematch with all-time highs simply above $109,000.
🚨UPDATE: $BTC makes historical past with new document day by day shut. pic.twitter.com/LSzuJNJUGx
— Cointelegraph (@Cointelegraph) Could 21, 2025
Contemporary considerations over Japan’s nationwide debt provided a lift to each crypto and gold on the day, with the latter reaching $3,320 per ounce, its highest since Could 12.
“A contemporary wave of volatility is gripping Japanese mounted earnings markets as 30-year Japanese Authorities Bond (JGB) yields surge previous 3%, breaching historic ranges and unsettling world buyers,” buying and selling agency QCP Capital commented on the problem in its newest bulletin to Telegram channel subscribers.
“Japan’s ballooning debt state of affairs has lengthy been a simmering concern, however it’s now reaching a boiling level.”
On Bitcoin, QCP advised that latest good points had been fueled by company accumulation, whereas breaking all-time highs may reawaken retail curiosity.
“Worth motion seems intently tied to treasury accumulation by Technique and Metaplanet, who stay the headline patrons at present ranges. There’s rising concern that these entities might signify the final of the marginal bid, significantly with BTC hovering close to ATHs,” it continued.
“A slowdown of their shopping for may set off profit-taking from different market members and probably reverse the prevailing uptrend.”
BTC worth development power flashes warning
Elsewhere, considerations over development power got here from the BTC/USD chart itself.
Associated: Sorry bears — Bitcoin evaluation dismisses $107K BTC worth double prime
Fashionable dealer Roman, amongst these taking a conservative view of market construction, warned that Bitcoin’s relative power index (RSI) was now providing three bearish divergences without delay on day by day timeframes.
“3 ranges of bearish divergences now showing on RSI. I might anticipate 101 to be retested earlier than we probably transfer increased (or decrease),” he advised X followers.
“I nonetheless have my sights on decrease general however may present an honest brief time period entry for each shorts & longs.”
As Cointelegraph reported, there isn’t a scarcity of bullish BTC worth targets presently in power.
$116,000 is an more and more in style space as soon as all-time highs are breached, with a $128,000 “blow-off prime” additionally on the radar.
Others have made a lot loftier predictions, together with $220,000 or extra in 2025.
Updating his long-term view, dealer and analyst Aksel Kibar mentioned that the bull development “stays intact” this week, with an accompanying chart reiterating a $137,000 goal.
“Regardless of relentless macro headwinds together with surging bond yields, tariff escalations and mounting stagflation dangers within the US for Q3 and This autumn, BTC has demonstrated outstanding resilience over the previous month,” QCP concluded.
“That mentioned, a breakout to new highs may ignite a contemporary wave of FOMO, dragging in sidelined retail capital and pushing costs even increased.”
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer includes danger, and readers ought to conduct their very own analysis when making a choice.
