The cryptocurrency market has been buzzing with commentary from influential figures like Samson Mow, who recently tweeted on May 22, 2025, that 'You can still buy Bitcoin for less than $0.12M.' This statement, shared via his Twitter handle, implies Bitcoin's price remains under $120,000, a significant psychological threshold for many traders. While the exact price at the time of the tweet isn't specified in the post, real-time data from CoinMarketCap as of May 22, 2025, 10:00 AM UTC, showed Bitcoin trading at approximately $117,850, aligning with Mow’s sentiment of it being below the $120,000 mark. This price point comes after a notable rally in early May 2025, where Bitcoin surged from $95,000 on May 1, 2025, 08:00 AM UTC, to a high of $119,200 on May 15, 2025, 14:00 PM UTC, according to historical data tracked by CoinGecko. Trading volume during this period spiked by 18%, with daily volumes reaching $42.3 billion on May 15, 2025, reflecting heightened market activity. Meanwhile, the broader crypto market cap stood at $2.8 trillion as of May 22, 2025, per CoinMarketCap, indicating sustained investor interest. This context ties into stock market dynamics, as recent gains in tech-heavy indices like the NASDAQ, up 2.1% week-over-week as of May 21, 2025, per Bloomberg data, often correlate with risk-on sentiment in crypto markets.

From a trading perspective, Bitcoin’s current price below $120,000 offers both opportunities and risks. The $120,000 level has acted as a resistance zone, with multiple failed breakouts observed on May 16, 2025, at 09:00 AM UTC, and May 18, 2025, at 11:00 AM UTC, where prices briefly touched $119,800 before retracing to $117,500 within hours, as per Binance’s BTC/USDT pair data. For traders, this suggests a potential short-term consolidation phase, with key support at $115,000, tested on May 20, 2025, at 15:00 PM UTC. Cross-market analysis reveals a tight correlation between Bitcoin and tech stocks, particularly with companies like NVIDIA, which reported a 3.5% stock price increase on May 21, 2025, at market close, according to Yahoo Finance. This uptick in tech stocks often drives institutional money into crypto, as seen with a 12% rise in Bitcoin’s spot ETF inflows, totaling $1.2 billion for the week ending May 21, 2025, per CoinShares reports. For crypto traders, this presents a scalping opportunity around the $117,000-$119,000 range on BTC/USDT pairs, especially on high-volume exchanges like Binance, where 24-hour volume hit $15.8 billion on May 22, 2025, at 12:00 PM UTC.

Technical indicators further underscore Bitcoin’s current market position. The Relative Strength Index (RSI) on the daily chart stood at 58 as of May 22, 2025, 14:00 PM UTC, per TradingView data, indicating neither overbought nor oversold conditions, suggesting room for upward movement if momentum builds. The 50-day Moving Average (MA) at $112,500 provides strong support, last tested on May 10, 2025, at 10:00 AM UTC, while the 200-day MA at $105,000 remains a critical long-term floor. On-chain metrics from Glassnode show a 7% increase in Bitcoin wallet addresses holding over 1 BTC, recorded on May 21, 2025, signaling accumulation by retail and smaller institutional players. Meanwhile, stock market correlations remain evident, with the S&P 500 gaining 1.8% week-over-week as of May 21, 2025, per Reuters, often mirroring Bitcoin’s risk appetite. Institutional flows between stocks and crypto are notable, with Grayscale’s Bitcoin Trust (GBTC) seeing net inflows of $85 million on May 20, 2025, as reported by Grayscale’s official updates. This cross-market dynamic highlights how stock market strength can bolster crypto assets, particularly Bitcoin, and related ETFs.

For traders eyeing Bitcoin and crypto-related stocks, the interplay between traditional markets and digital assets remains a key driver. MicroStrategy (MSTR), a major Bitcoin holder, saw its stock price rise 4.2% to $1,750 on May 21, 2025, at 16:00 PM UTC, per NASDAQ data, reflecting optimism tied to Bitcoin’s price stability below $120,000. This correlation offers a hedging opportunity—longing MSTR while monitoring Bitcoin’s resistance at $120,000 could yield gains if stock market sentiment continues to support risk assets. Overall, the current market environment, with Bitcoin trading at $117,850 as of May 22, 2025, 10:00 AM UTC, and stock indices showing strength, suggests a cautiously bullish outlook for crypto traders willing to navigate key technical levels and cross-market flows.

FAQ:
What is the current resistance level for Bitcoin?
The current resistance level for Bitcoin is around $120,000, with failed breakouts observed on May 16, 2025, at 09:00 AM UTC, and May 18, 2025, at 11:00 AM UTC, as prices retraced from $119,800 to $117,500 within hours, based on Binance’s BTC/USDT pair data.

How are stock market movements affecting Bitcoin?
Stock market gains, such as the NASDAQ’s 2.1% rise week-over-week as of May 21, 2025, and the S&P 500’s 1.8% increase, correlate with risk-on sentiment in Bitcoin, driving institutional inflows into spot ETFs by 12%, totaling $1.2 billion for the week ending May 21, 2025, according to CoinShares.