The BTC price retests the $98,000 mark today. Technical indicators record bullish sentiment, hinting at a higher price target. The star crypto is only $2,422.72 away from achieving the $100k mark.
BTC Price Hits New ATH
With an intraday jump of 3.82% and a trading volume of $91.29 billion, the Bitcoin price has achieved a new all-time high of $97,862.64. The market is highly anticipating the star crypto to hit the $100k mark in the upcoming hours. This month, the largest cryptocurrency by market capitalization has shown a gain of 44.38%, surpassing the $1.9 Trillion mark. Currently, with a trading price of $97,577.28, it is valued at $1.915 Trillion.
Bitcoin Technical Sentiments
The 50/200-day EMA continues displaying an upward trend in the daily time frame. This suggests a bullish outlook for the BTC price in the upcoming time. Further, the Relative Strength Index (RSI) continues hovering above the overbought range, indicating a significant increase in the buying pressure for Bitcoin.
How High Will The BTC Price Go?
Maintaining its bullish sentiment could push the Bitcoin price toward its target price of $100k this weekend. Furthermore, if the bullish sentiment sustains, this could result in the market leader heading toward its upper high of $110,000 this month. On the contrary, if a bearish trend reversal occurs, the BTC price will retest its $90,000 range. Moreover, if the bearish sentiment intensifies, this could pull the price toward its lower support level of $80,000.
As BTC nears the coveted $100k mark, the crypto world eagerly awaits further developments. Bitcoin continues to attract investor attention, maintaining its status as the flagship of the cryptocurrency market.
