According to The Kobeissi Letter, gold prices have extended their intraday rally by more than $100, reaching $3,345 per ounce on May 5, 2025 (source: @KobeissiLetter, Twitter). This rapid price increase is significant for traders, as it signals heightened demand for safe-haven assets amid market uncertainty. The substantial move may trigger increased volatility in related markets, including gold ETFs and mining stocks. Traders should monitor technical resistance levels and consider risk management strategies, as such sharp price action often leads to profit-taking and short-term corrections (source: @KobeissiLetter, Twitter).

According to Material Indicators, both Trend Precognition algorithms indicate an upward trend on the BTC Daily chart. However, there is no new signal on the Weekly chart. The analysis highlights strong technical resistance between the trend line and the 200-Day Moving Average (MA). FireCharts reveals that a key market player, referred to as Spoofy the Whale, is influencing the market dynamics. Breaking through the 200-Day MA remains challenging without overcoming this technical 'roof'.

According to Material Indicators, Spoofy the Whale has shifted liquidity once again, which typically results in Bitcoin's price increasing. However, traders are hesitant to buy due to strong technical resistance at the 200-Day and 21-Day Moving Averages (MAs) as reported by FireCharts.