Bitcoin Price Watch: On the Verge of History With Only 7.44% Left to Break All-Time High
Bitcoin’s price is coasting along at $101,251 on May 8, 2025, leaving a 7.44% gap before reaching its all-time high. With a market capitalization of $2.01 trillion and a 24-hour trading volume of $58.84 billion, bitcoin’s current positioning reveals a complex but bullish technical landscape, as it ranged intraday between $95,967 and $101,711.
The four-hour bitcoin chart reflects a sharp V-shaped recovery from $93,376, characterized by robust buying activity and ascending candle structures. A recent spike in volume underscores renewed investor interest, yet resistance at $101,711 currently caps further advances. The critical support zone lies between $97,000 and $98,500, and a favorable entry could form near $99,000–$99,500, especially if a bullish reversal candle appears. However, repeated rejections at the upper resistance level may prompt cautious exits or short-term profit-taking.
On the one-hour chart, bitcoin is undergoing a modest consolidation after a steep surge. Although volume surged during the breakout, it has since declined, suggesting momentum is cooling in the near term. Immediate support is found at $100,500, with deeper levels near $99,800. Intraday traders may look to scalp on bounces off these levels, placing tight stops under $99,500.
