The Asian on May 21 session saw BTC price set up a local top at $107,950 on Binance, shy of 1.86% from its ATH of $110,000. While Bitcoin (BTC) is inches away from revisiting its historic level, altcoins are starting to show signs of exhaustion. Can this bullish momentum push BTC to set up a new ATH at $110,000 today?
Live BTC Price Chart
Bitcoin is up 2% today and trades at $104,600. The recent uptick has pushed Bitcoin’s market up to $2.1 trillion, with the 24-hour trading volume hovering around $36.8 billion.
*bitcoin price updated as of 11 AM.
Can Bitcoin (BTC) Hit $110,000 Today?
BVIV, Volmex’s 30-day Implied Volatility (IV) for Bitcoin, hovers around 49.23. This metric measures the forward expectation of investors on BTC, calculated using options data. The 49.23 value is annualized 30-day IV. Dividing this value by the square root of 365 yields 2.57%, which is the daily percentage Bitcoin price swing.
At press time, Bitcoin price hovers around $106,400. Multiplying this value by 2.57% shows the upper limit of $109,123. On the other hand, a lower limit is around $103,676. So the chances of a BTC price swing that pushes it to $110,00 today are extremely high.
Analyzing Bitcoin’s Bullish Market Structure
A top-down approach is best to determine what Bitcoin price prediction holds for the near-term future. If the momentum is strong enough, BTC will hit $110,000 or push higher. The 4-hour chart shows a series of higher lows since BTC price set up the April swing low around $73,000. This price structure shows clear strength and bullish momentum and is indicative of a continuation of the uptrend a retest of all-time high.
The hourly chart shows a similar outlook for Bitcoin with a series of higher low formations. A key value area to watch on this timeframe extends from $105k to $102.5k. 70% of the volume traded between December 2024 and February 2025.  Yesterday’s correction tagged the $105k level, catalyzing a buying spree that pushed BTC price to a new daily high of $107,950. This move created a higher low, retaining the bullish market structure.
Nearly 7,000 BTC worth $740 million of open interest was added since yesterday’s intraday low of $102,000. This clearly shows investor interest and willingness to buy the dips. Hence, the chances of a potential push to retest the previous ATH at $110,000 are highly likely.
To conclude, BTC price action remains extremely bullish and hints at a potential retest of the ATH of $110,000. The IV also shows there is a high chance of Bitcoin reaching for the record highs and potentially going beyond.
Frequently Asked Questions (FAQs)
Yes, the chances are extremely high based on the 30-day Implied Volatility (IV) and bullish market structure.
Strong momentum, investor interest, and willingness to buy the dips.
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Akash Girimath
Senior Cryptocurrency Analyst & Market Strategist
Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts.
A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise.
Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
