Bitcoin Eyes $135K as Las Vegas Conference Sparks Momentum

Bitcoin may be nearing a major breakout as excitement builds around the upcoming Bitcoin 2025 Conference, set to begin May 27 in Las Vegas. With traders closely watching for a potential surge toward a new all-time high of $135,000, analysts point to a crucial support level that could determine whether the rally continues or stalls.

Renowned market analyst CrypNuevo highlights a successful R/S flip—where a previous resistance level has now become support—suggesting that Bitcoin’s current chart structure favors the bulls. This technical shift is often a precursor to stronger upward moves, provided the support holds in the coming days. If Bitcoin stays above this level, momentum could carry it much higher.

Adding to the bullish narrative, crypto strategist Wise Advice links Bitcoin’s future price action to the broader money supply (M2). Based on historical patterns, he projects a 24% increase that could push Bitcoin to $135,000 by July, aligning with the optimistic mood heading into the conference.

However, the path to new highs won’t be smooth. CrypNuevo points to a key liquidation cluster between $112,000 and $114,000—a zone likely to attract price action due to the presence of leveraged trades. Should Bitcoin clear this range, it may trigger a cascade of forced buy orders, propelling the price to $115,000 and beyond.

Still, traders are watching closely as Bitcoin approaches a pivotal support zone near $106,000. Liquidation pressure has been building around $105,700, suggesting a potential short-term dip. If this level holds, it could present a valuable entry point for new investors. But if it fails, Bitcoin could fall to the psychological $100,000 threshold—a level that might shake out short-term traders but attract long-term holders.

As of now, Bitcoin trades around $109,700, up modestly over the last 24 hours. The total crypto market capitalization has climbed to $2.18 trillion, reflecting renewed investor interest across the digital asset space.

With technical signals aligning and investor sentiment heating up ahead of the Las Vegas event, all eyes are on whether Bitcoin can convert support into strength—and deliver the next leg of its historic bull run.