Bitcoin Approaches Rp1.64 Billion: Trend Analysis and Supporting Factors

Jakarta, Pintu News – Bitcoin is showing a significant upward trend, with the current price reaching around Rp1.71 billion (US$103,725). This rise has been driven by various factors, including positive market sentiment, technical support, and increased institutional interest.

Market Sentiment and Fundamental Factors

Bitcoin’s recent price rise has been attributed to positive news regarding a trade deal between the United States and the United Kingdom, which boosted investor optimism. In addition, inflows into spot Bitcoin ETFs reached US$5.3 billion in the past three weeks, indicating strong institutional interest.

States such as New Hampshire and Arizona have also introduced crypto reserves, although no purchases have been made yet. These measures reflect wider adoption of digital assets and increased market confidence.

Also Read: Can Gaming PCs be Used to Mine Bitcoin (BTC)? Here are the Facts in 2025

Technical Analysis and Key Levels

Technically, Bitcoin has broken resistance around US$98,500 and is currently trading above its 100-hour simple moving average (SMA). The RSI indicator is above the 70 level, indicating strong bullish momentum.

The next resistance level is expected to be around US$105,000 to US$108,000. If the price manages to break this level, the next target is US$120,000. However, in the event of a correction, strong support is expected to be around US$92,000.

Institutional Interest and Accumulation

Large investors, or “whales”, have accumulated more than 81,000 BTC in the past six weeks, showing long-term confidence in the asset. In addition, investment firms such as Strategy plan to invest US$84 billion in Bitcoin acquisitions, signaling strong institutional support.

Inflows into spot Bitcoin ETFs also reflect growing interest from institutional investors, which could push prices higher in the medium to long term.

Conclusion

With a combination of positive fundamentals, strong technical support, and growing institutional interest, Bitcoin shows potential to reach and surpass the psychological level of Rp1.64 billion (US$100,000). However, investors should remain wary of market volatility and conduct a thorough analysis before making any investment decisions.

Also Read: Robert Kiyosaki Highlights Potential Market Crisis, Calls Bitcoin (BTC) Superior to Gold

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Aayush Jindal / NewsBTC. Bitcoin Price Eyes $100K as Bulls Regain Momentum, Buy Dips? Posted May 9, 2025
• Featured Image: Generated by AI