Chart of the Day - Thursday, May 8, 2025

May 8, 2025
Patrick Dunuwila

Chart of the Day


🏆  Today's Chart of the Day was shared by Caleb Franzen (@CalebFranzen). 
 

  • Bitcoin reclaimed $100k today for the first time in three months. It's only -4.5% below all-time highs, closer than any of the major stock market averages.  
     
  • Bitcoin peaked before stocks in late January and slid -28% over the next three months. It bottomed alongside stocks on April 8th and has since rallied +32% from its closing low near $76k. 
     
  • Caleb notes that Bitcoin is in a bullish configuration with its moving averages. Price is > 21-EMA > 55-EMA > 200-EMA. The trend is objectively higher, and the next upside target is all-time highs, near $110k. 
     

The Takeaway: Bitcoin reclaimed $100k today for the first time in three months. The trend is unequivocally higher, and all-time highs are within reach.

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