Bitcoin’s price surged 4.3% on May 9, surpassing $100,000 for the first time since February. This increase triggered $800 million in short liquidations, marking the largest since 2021. Analysts are now eyeing a bull flag on the weekly chart, suggesting a target of $182,200. Some experts even predict that Bitcoin could reach as high as $1 million by 2025. The surge saw BTC/USD reaching $104,150 during the late New York trading session on May 8. Market sentiment, measured by the Crypto Fear & Greed Index, rose from 65 to 73, indicating growing “greed” among investors. In the past 24 hours, crypto market liquidations exceeded $925 million, with $800 million in short positions liquidated, the largest since 2021. Analysts note strong support for Bitcoin despite overbought conditions on the RSI indicator. Traders are setting ambitious targets for Bitcoin, with projections ranging from $106,000 to $170,000 and even as high as $1 million. Binance founder Changpeng Zhao expects Bitcoin to reach between $500,000 and $1 million this cycle. From a technical perspective, Bitcoin’s price action has formed a bull flag pattern on the weekly timeframe, suggesting a potential target of $182,200. This bullish setup formed after the price consolidated within a down-sloping range. It’s essential to note that this article does not provide investment advice, and readers should conduct their own research before making any decisions.