Bitcoin (BTC) has seen a steady incline in the past week, with the most valued crypto surging 7.38% as positive institutional developments continue to boost sentiment, with Strategy adding $1.4 billion worth of BTC to its holdings and Standard Chartered projecting a rally towards $120,000 in the near term.
The BTC chart analysis shows that it has been climbing from around $88,410 to a recent high of $95,548 during Monday’s rally, exhibiting a strong upward trend. The current price shows BTC holding steady at $95,055.36, up 0.32% in the past 24 hours, with its market cap at $1.8 trillion. Volume analysis shows genuine buying pressure, with 24-hour volume at $19.48 billion.
Alankar Saxena, Co-founder and CTO of Mudrex, says investors are now looking for a catalyst to fuel a decisive move toward the $100,000 mark. “Upcoming macroeconomic data, including PCE, ISM, and jobs reports, could provide the needed momentum if they meet market expectations. Meanwhile, Ethereum is showing strong signs of a breakout, with whale inflows surging by 2,682%, signalling a potential move towards the $2,000 level.”
Piyush Walke, Derivatives Research Analyst, Delta Exchange, says Bitcoin remains in a consolidation phase, with the $96,000 level acting as a key resistance point. “This upper boundary sits near the top of its recent trading range, suggesting that a breakout could be on the horizon if upward momentum persists. Prices remain elevated, and the market appears to be positioning for another move higher.”
The recent close above the 200-day moving average marks a potential shift toward bullish momentum, further supported by the Relative Strength Index (RSI) staying above 50. These technical indicators underscore growing investor confidence in a possible upward breakout. “Bitcoin now stands at a critical inflection point. A decisive move above $100,000 could open the door to new all-time highs. Conversely, failure to hold key support levels could trigger a broader correction,” says Walke.