Bitcoin's price is approaching the $100,000 mark, linked to buyer activity in the cryptocurrency market. Market expectations and supportive factors create interest among both institutional investors and other participants.
Bitcoin and Its Movement Towards $100K
Recently, Bitcoin has been following an upward channel. The daily chart shows successive rising lows and higher peaks, reflecting a stable uptrend. Holding above $95,000 quickly moves it toward the psychological barrier of $100,000.
Factors Supporting Bitcoin's Growth
The Federal Reserve's decision to keep interest rates at 4.25% - 4.5% was expected. However, President Trump's announcement regarding customs tariffs has generated additional interest from institutional investors, boosting demand for Bitcoin. As a result, individual purchases remain limited, with the primary focus on the institutional market.
Technical Indicators and Short-Term Targets
Technical analysis indicates the weekly MACD is on the verge of a bullish crossover signal. The decrease in selling pressure suggests a resurgence of buyer interest. If Bitcoin completes a double bottom formation and the RSI rises above 50, a strong rally could occur. Surpassing the critical resistance level of $116,891 might propel Bitcoin toward $150,000 or even $200,000. Conversely, a pullback from $116,891 could bring the price back to the support level at $90,000, and a breakdown of the rising wedge pattern could lead to prices falling below $70,000.
Bitcoin's current dynamics capture interest among investors and analysts alike. As it approaches key resistance levels, further market movements will depend on institutional demand and the changing market landscape.
