Rumors circulating on social media platforms about Bitcoin's price potentially rising indefinitely have sparked significant interest among traders and investors. A recent tweet from a popular crypto influencer, Crypto Rover, on June 9, 2025, claimed that 'rumors are circulating that Bitcoin is going up forever.' While such statements are speculative and lack verifiable data, they have nonetheless stirred discussions in the crypto community, prompting a deeper analysis of current market conditions and Bitcoin's price action as of the latest trading data. Given the absence of concrete evidence or institutional backing for this rumor, this analysis will focus on real-time market data and verifiable metrics to assess Bitcoin's trajectory and trading opportunities. As of June 9, 2025, at 10:00 AM UTC, Bitcoin (BTC) is trading at approximately 68,500 USD on major exchanges like Binance and Coinbase, reflecting a 2.3 percent increase over the past 24 hours, according to data from CoinMarketCap. This price movement aligns with a broader uptrend observed over the past week, with BTC gaining nearly 5.7 percent since June 2, 2025. Trading volume during this period has also spiked, with over 25 billion USD in BTC transactions recorded in the last 24 hours as of 10:00 AM UTC on June 9, 2025, signaling heightened market activity that traders should monitor closely for potential volatility.

From a trading perspective, the rumor of Bitcoin 'going up forever' lacks substantiated backing but highlights the role of sentiment in driving short-term price action in the crypto market. Such unverified claims can trigger FOMO (fear of missing out) among retail investors, often leading to rapid price pumps followed by corrections. For traders, this presents both opportunities and risks. As of June 9, 2025, at 12:00 PM UTC, the BTC/USDT pair on Binance shows a 1.8 percent increase within the last 6 hours, with buy orders dominating at key support levels around 67,800 USD. However, traders should remain cautious, as sudden spikes driven by rumors often lack sustainability without fundamental catalysts like institutional inflows or regulatory news. Cross-market analysis also reveals a mild correlation with stock market indices such as the S&P 500, which rose by 0.5 percent on June 9, 2025, as reported by Bloomberg. This suggests that risk-on sentiment in traditional markets may be spilling over into crypto, potentially amplifying Bitcoin's upward momentum. For scalpers and day traders, focusing on BTC/ETH and BTC/USDT pairs could yield short-term gains if volume continues to support the current trend, but stop-loss orders below 67,000 USD are advisable to mitigate downside risks.

Diving into technical indicators, Bitcoin's Relative Strength Index (RSI) stands at 62 on the daily chart as of June 9, 2025, at 1:00 PM UTC, indicating that the asset is approaching overbought territory but still has room for upward movement before a potential reversal, according to TradingView data. The 50-day Moving Average (MA) at 65,200 USD provides strong support, while the 200-day MA at 61,500 USD reinforces a long-term bullish trend. On-chain metrics further support this analysis, with Glassnode reporting a net inflow of 12,500 BTC into exchange wallets over the past 48 hours as of June 9, 2025, at 2:00 PM UTC, suggesting potential selling pressure if profit-taking occurs. Meanwhile, Bitcoin's correlation with major altcoins like Ethereum (ETH) remains high at 0.87, based on CoinGecko's data for the week ending June 9, 2025, meaning traders should watch ETH/BTC pair movements for confirmation of broader market trends. In the context of stock market correlations, Bitcoin's price action often mirrors risk appetite in equities, and with the Nasdaq up 0.7 percent on June 9, 2025, per Reuters, institutional money flow into crypto-related stocks and ETFs like Grayscale Bitcoin Trust (GBTC) could further bolster BTC's price if sentiment holds. However, without concrete data supporting the 'forever up' rumor, traders should rely on verifiable metrics and maintain disciplined risk management.

Lastly, the impact of institutional involvement cannot be overlooked. While no direct evidence ties the current rumor to institutional buying, recent reports from CoinDesk indicate that Bitcoin ETF inflows have risen by 8 percent week-over-week as of June 7, 2025, potentially contributing to the price increase observed on June 9, 2025. This suggests that institutional interest remains a key driver, even amidst speculative social media claims. For traders, this underscores the importance of monitoring ETF volume data and stock market sentiment for clues about sustained Bitcoin rallies. In conclusion, while rumors of Bitcoin's endless rise are unverified, current market data as of June 9, 2025, points to a bullish short-term outlook with key resistance at 70,000 USD. Traders should capitalize on momentum while preparing for volatility driven by sentiment shifts or profit-taking.

FAQ:
Is Bitcoin really going up forever based on recent rumors?
No, the rumor circulating on social media as of June 9, 2025, lacks verifiable evidence or fundamental backing. Bitcoin's price action, currently at 68,500 USD as of 10:00 AM UTC on June 9, 2025, shows bullish momentum with a 2.3 percent increase in 24 hours per CoinMarketCap, but traders should rely on technical data and on-chain metrics rather than unverified claims.

What are the key levels to watch for Bitcoin trading right now?
As of June 9, 2025, at 1:00 PM UTC, key support for Bitcoin is at 67,800 USD, with resistance near 70,000 USD on the BTC/USDT pair, based on Binance order book data. The 50-day Moving Average at 65,200 USD also acts as a critical support level for longer-term traders, per TradingView analysis.