Bitcoin Reclaims $100k ๐ The Daily Chart Report
Powered By:
Todayโs Summary
Thursday, May 8, 2025
Indices: Russell 2000 +1.85% | Nasdaq +0.98% | Dow +0.62% | S&P 500 +0.58%
Sectors: 7 of the 11 sectors closed higher. Industrials led, rising +1.38%. Health Care lagged, falling -0.90%.
Commodities: Crude Oil rose +3.79% to $60.27 per barrel. Gold dropped -2.38% to $3,311 per oz.
Currencies: The US Dollar Index rose +0.77% to $100.64.
Crypto: Bitcoin rose +5.26% to a three-month high of $102,162. Ethereum is surging +19.00% at $2,155.
Volatility: The Volatility Index dropped -4.55% to 22.47.
Interest Rates: The US 10-year Treasury yield rose to 4.380%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ 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 $100k today for the first time in three months. The trend is unequivocally higher, and all-time highs are within reach.
Quote of the Day
"The key is not knowing for sure what a stock is going to do next but knowing what it should do. Then it's a matter of determining whether the proverbial train is on schedule."
- Mark Minervini
Top Links
About Last Month - Carson Research
Ryan Detrick shares his thoughts on the rebound over the past month.
Three Charts to Watch for an "All Clear" Signal - StockCharts.com
David Keller highlights three charts to watch for bullish confirmation.
The Morning Show for May 8 - Stock Market TV
John Kolovos discusses the current macro/technical environment.
All Eyes on the Euro - Alfonso's Daily Note
Alfonso De Pablos examines the Euro and its implications for the US Dollar Index ($DXY).