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Bitcoin Skyrockets! Surges Past $107,000 to Hit a Five-Month High

Source Tradingkey

TradingKey – Bitcoin has broken through $107,000, marking its highest price in nearly five months. Will the rally continue?

On Monday, May 19, Bitcoin (BTC) soared past $107,000, peaking at $107,108—its highest level since January 24, 2025. However, as of this writing, BTC has pulled back significantly, currently trading at $104,771.

Bitcoin Price Trend – Source: TradingView.

Over the past 24 hours, Bitcoin’s sharp price swings caused mass liquidations on both sides of the trade.

- Total liquidation volume: $575 million

- Long positions liquidated: 60%

- Short positions liquidated: 40%

Crypto Liquidation Data – Source: Coinglass.

One key concern is that Bitcoin traded mostly sideways around $104,000 last week without major volatility. This morning's sudden spike—despite a lack of bullish catalysts—raises the possibility of a bull trap, where traders are lured into long positions before a reversal.

Source

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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