- Bitcoin rebounded from April lows around $74K, with bullish divergence signaling a strong upward trend toward new price levels.
- Javon Marks identified bullish structures as Bitcoin surged past $94K, suggesting a potential continuation of the long-term rally.
- With Bitcoin holding above $100K and bullish sentiment rising, it inches closer to flipping major tech giants by market capitalization.
Cory Bates highlighted Bitcoin’s growing dominance, noting its potential to surpass major corporations by market cap. At $101,000, Bitcoin flips Google. At $140,000, it overtakes Nvidia. Apple gets surpassed at $150,000. Microsoft falls behind at $164,000. And Gold loses its crown if Bitcoin hits $1.1 million. This outlook shows how serious Bitcoin’s financial trajectory has become.
Recently, Bitcoin has bounced back from its April lows. It briefly fell to the $74,000 range between April 7–10. Many thought the bull run had ended. However, analysts like Javon Marks viewed this as a false alarm. His analysis pointed out multiple bullish signals during this dip. Notably, he identified a “Regular Bullish Divergence” across several timeframes. This usually signals the start of an upward reversal.
Strong Recovery Signals
The recovery began almost immediately after Bitcoin bottomed out near $78,000. Prices climbed past $94,000 by late April. As of May 10, Bitcoin traded at $103,151, down -1.13% from the last period. This price still trails the all-time high of $109,000 set earlier in 2023. Still, the upward momentum appears to be strengthening.
Source: Javon Marks
Moreover, the price structure continues to resemble a highly bullish pattern. According to Marks, the circled $78,000-$80,000 range showed strong reversal characteristics. Price action confirmed this when Bitcoin began climbing steadily in April. His tweets on April 9 confirmed confidence in the upward breakout, even as the market consolidated.
Market Outlook and Sentiment
Bitcoin has been volatile over the past 10 months. It posted three major rallies followed by sharp corrections. However, recent trends suggest this cycle may enter a stronger bullish phase. Besides, technical indicators point to continued accumulation.
Consequently, sentiment has flipped. Marks emphasized that bullish conditions could escalate faster than before. Additionally, his analysis has continued to highlight structural strength in Bitcoin’s current setup.
Institutional interest and public sentiment remain high. With a current price holding above $100,000, new highs seem plausible. Hence, if momentum persists, Bitcoin may soon threaten its previous peak.
