Recently, Bitcoin (BTC) surpassed the $95,000 mark, a significant milestone for the cryptocurrency. Experts are already analyzing the reasons for the rise and future prospects.
Current Bitcoin Market Indicators
Bitcoin reached a peak of $95,976 on April 25, completing a seven-day rally and surpassing the $90,000 level for the first time since early March. Currently, the cryptocurrency is trading at $94,191, reflecting a 0.48% decrease over the last 24 hours.
Analysis by Willy Woo
Crypto analyst Willy Woo points out that Bitcoin's fundamentals have turned bullish. In a recent tweet, he noted that capital flows into the network are increasing, but speculative flows have bottomed out. This combines to create a bullish environment based on solid fundamentals.
> "BTC fundamentals have turned bullish, not a bad setup to break all-time highs." > - Willy Woo
Bitcoin Movement Prospects
Woo suggests that while tactical medium-term targets of $90,000 and $93,000 have been achieved, the $108,000 target remains in play. He highlights the possibility of sideways action or a slow upward grind in the coming days as the current indicator suggests overextension might impede upward movement.
At this point, Bitcoin shows potential for further growth; however, short-term pullbacks may occur. If the current capital trend continues, BTC may reach its all-time high again.
