Bitcoin Bulls Dominate Futures Market – $100K Level Now In Focus

By: bitcoin ethereum news|2025/05/09 10:00:03
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Bitcoin is trading above $99,000 for the first time since February, signaling a surge in bullish momentum as price action pushes toward the long-awaited $100K milestone. After weeks of steady uptrend and tight consolidation beneath key resistance, BTC has finally cracked the $99K level, putting the market on high alert for a breakout that could define the next leg of the bull cycle. The move comes as on-chain and derivatives data continue to support the bullish case. According to CryptoQuant, the Bitcoin Futures Position Dominance indicator shows that bullish pressure in the futures market remains strong. While futures activity has decreased slightly compared to May 6 and 7, analysts suggest this isn’t particularly concerning—momentum is still leaning in favor of the bulls, and the market appears to be setting up for continuation. The $100K level remains the primary barrier. Reclaiming and holding it as support would likely trigger a wave of upside as market sentiment shifts even more aggressively in Bitcoin’s favor. Until then, the current breakout is a strong signal that buyers remain in control, and confidence is building across both spot and futures markets. The coming days could be pivotal. Bitcoin Pushes Toward $100K As Bulls Gain Momentum Bitcoin is finally pressing above the critical supply zone near $99,000, signaling a strong shift in momentum after weeks of consolidation. Bulls are clearly in control, having defended higher lows and pushed price action into a new phase of strength. However, despite the breakout, BTC still struggles to reclaim the decisive $100,000 level—a psychological and technical barrier that continues to define market sentiment. The real test lies in the $100K–$103K range, which marks the upper boundary of current resistance. A confirmed break and hold above this zone would not only validate the recent rally but could also ignite the next leg of the bull cycle. Until that happens, Bitcoin remains just shy of full breakout territory. Macroeconomic uncertainty continues to cloud the broader financial landscape. Tensions between the U.S. and China persist, and the US Federal Reserve has reaffirmed its plan to keep interest rates elevated while maintaining quantitative tightening (QT). These conditions pose risks to all risk assets, including crypto, but could also act as fuel if global sentiment turns positive. Top analyst Axel Adler shared insights pointing to continued bullish pressure in the futures market. While positioning has slightly cooled since May 6 and 7, Adler notes that it’s no longer critical—bears have largely surrendered, and bulls remain in control. According to him, the next stop is $100K. The current setup is highly constructive. If Bitcoin breaks above $100K with volume and holds, the $103K level could quickly come into play. Until then, the market remains in a state of anticipation, with the breakout structure forming—but not yet complete. The coming days will be crucial in determining whether this rally has the strength to evolve into a full-scale breakout. Technical Analysis: Price Action Shows Strength Bitcoin is currently trading at $99,739 after a strong push toward the psychological $100,000 resistance level. The 4-hour chart shows a clear continuation of bullish momentum, as BTC breaks above previous supply zones and reclaims levels last seen in February. This surge follows a clean breakout from consolidation in late April, with consistently higher lows and increasing volume backing the move. BTC is now trading well above both the 200-period simple moving average (SMA) at $88,825 and the 200-period exponential moving average (EMA) at $91,152. These moving averages have flipped into dynamic support and reflect the strengthening trend structure. However, the $100,000–$103,600 range remains the final hurdle before new all-time highs can be considered. The market is showing signs of confidence, with bulls firmly in control and price action building toward a potential breakout. Still, the reaction around $100K will be critical—this level has acted as major resistance multiple times, and any rejection could trigger a short-term retracement back toward the $95K zone. For now, the trend remains bullish, and a sustained close above $100K would confirm further upside potential. The coming sessions will be key in determining whether Bitcoin can reclaim new ground or stall below resistance once again. Featured image from Dall-E, chart from TradingView Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers. Source: https://bitcoinist.com/bitcoin-bulls-dominate-futures-market-100k-level-now-in-focus/

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Before using Musk's "Western WeChat" X Chat, you need to understand these three questions

The X Chat will be available for download on the App Store this Friday. The media has already covered the feature list, including self-destructing messages, screenshot prevention, 481-person group chats, Grok integration, and registration without a phone number, positioning it as the "Western WeChat." However, there are three questions that have hardly been addressed in any reports.


There is a sentence on X's official help page that is still hanging there: "If malicious insiders or X itself cause encrypted conversations to be exposed through legal processes, both the sender and receiver will be completely unaware."


Question One: Is this encryption the same as Signal's encryption?


No. The difference lies in where the keys are stored.


In Signal's end-to-end encryption, the keys never leave your device. X, the court, or any external party does not hold your keys. Signal's servers have nothing to decrypt your messages; even if they were subpoenaed, they could only provide registration timestamps and last connection times, as evidenced by past subpoena records.


X Chat uses the Juicebox protocol. This solution divides the key into three parts, each stored on three servers operated by X. When recovering the key with a PIN code, the system retrieves these three shards from X's servers and recombines them. No matter how complex the PIN code is, X is the actual custodian of the key, not the user.


This is the technical background of the "help page sentence": because the key is on X's servers, X has the ability to respond to legal processes without the user's knowledge. Signal does not have this capability, not because of policy, but because it simply does not have the key.


The following illustration compares the security mechanisms of Signal, WhatsApp, Telegram, and X Chat along six dimensions. X Chat is the only one of the four where the platform holds the key and the only one without Forward Secrecy.


The significance of Forward Secrecy is that even if a key is compromised at a certain point in time, historical messages cannot be decrypted because each message has a unique key. Signal's Double Ratchet protocol automatically updates the key after each message, a mechanism lacking in X Chat.


After analyzing the X Chat architecture in June 2025, Johns Hopkins University cryptology professor Matthew Green commented, "If we judge XChat as an end-to-end encryption scheme, this seems like a pretty game-over type of vulnerability." He later added, "I would not trust this any more than I trust current unencrypted DMs."


From a September 2025 TechCrunch report to being live in April 2026, this architecture saw no changes.


In a February 9, 2026 tweet, Musk pledged to undergo rigorous security tests of X Chat before its launch on X Chat and to open source all the code.



As of the April 17 launch date, no independent third-party audit has been completed, there is no official code repository on GitHub, the App Store's privacy label reveals X Chat collects five or more categories of data including location, contact info, and search history, directly contradicting the marketing claim of "No Ads, No Trackers."


Issue 2: Does Grok know what you're messaging in private?


Not continuous monitoring, but a clear access point.


For every message on X Chat, users can long-press and select "Ask Grok." When this button is clicked, the message is delivered to Grok in plaintext, transitioning from encrypted to unencrypted at this stage.


This design is not a vulnerability but a feature. However, X Chat's privacy policy does not state whether this plaintext data will be used for Grok's model training or if Grok will store this conversation content. By actively clicking "Ask Grok," users are voluntarily removing the encryption protection of that message.


There is also a structural issue: How quickly will this button shift from an "optional feature" to a "default habit"? The higher the quality of Grok's replies, the more frequently users will rely on it, leading to an increase in the proportion of messages flowing out of encryption protection. The actual encryption strength of X Chat, in the long run, depends not only on the design of the Juicebox protocol but also on the frequency of user clicks on "Ask Grok."


Issue 3: Why is there no Android version?


X Chat's initial release only supports iOS, with the Android version simply stating "coming soon" without a timeline.


In the global smartphone market, Android holds about 73%, while iOS holds about 27% (IDC/Statista, 2025). Of WhatsApp's 3.14 billion monthly active users, 73% are on Android (according to Demand Sage). In India, WhatsApp covers 854 million users, with over 95% Android penetration. In Brazil, there are 148 million users, with 81% on Android, and in Indonesia, there are 112 million users, with 87% on Android.



WhatsApp's dominance in the global communication market is built on Android. Signal, with a monthly active user base of around 85 million, also relies mainly on privacy-conscious users in Android-dominant countries.


X Chat circumvented this battlefield, with two possible interpretations. One is technical debt; X Chat is built with Rust, and achieving cross-platform support is not easy, so prioritizing iOS may be an engineering constraint. The other is a strategic choice; with iOS holding a market share of nearly 55% in the U.S., X's core user base being in the U.S., prioritizing iOS means focusing on their core user base rather than engaging in direct competition with Android-dominated emerging markets and WhatsApp.


These two interpretations are not mutually exclusive, leading to the same result: X Chat's debut saw it willingly forfeit 73% of the global smartphone user base.


Elon Musk's "Super App"


This matter has been described by some: X Chat, along with X Money and Grok, forms a trifecta creating a closed-loop data system parallel to the existing infrastructure, similar in concept to the WeChat ecosystem. This assessment is not new, but with X Chat's launch, it's worth revisiting the schematic.



X Chat generates communication metadata, including information on who is talking to whom, for how long, and how frequently. This data flows into X's identity system. Part of the message content goes through the Ask Grok feature and enters Grok's processing chain. Financial transactions are handled by X Money: external public testing was completed in March, opening to the public in April, enabling fiat peer-to-peer transfers via Visa Direct. A senior Fireblocks executive confirmed plans for cryptocurrency payments to go live by the end of the year, holding money transmitter licenses in over 40 U.S. states currently.


Every WeChat feature operates within China's regulatory framework. Musk's system operates within Western regulatory frameworks, but he also serves as the head of the Department of Government Efficiency (DOGE). This is not a WeChat replica; it is a reenactment of the same logic under different political conditions.


The difference is that WeChat has never explicitly claimed to be "end-to-end encrypted" on its main interface, whereas X Chat does. "End-to-end encryption" in user perception means that no one, not even the platform, can see your messages. X Chat's architectural design does not meet this user expectation, but it uses this term.


X Chat consolidates the three data lines of "who this person is, who they are talking to, and where their money comes from and goes to" in one company's hands.


The help page sentence has never been just technical instructions.


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