Bitcoin is trading slightly less than $100,000 psychologically, and faces a critical test as the Bull tries to maintain the recovery rally. After weeks of strong upward momentum, the market has now entered a decisive phase, with a breakthrough of over $100,000 likely sparking a wave of new buying interest and potentially marking the beginning of a new all-time high. However, failure to retract this level may emit exhaustion, resulting in another merger or even correction phase.
Analysts have differences on Bitcoin’s next steps. Some points to improving the technical structure and strong demand areas are signs of bullish continuation. Others believe that macroeconomic uncertainty, including ongoing global tensions and changes in monetary policy, may rise further in the near term.
On-chain data provides additional insights. According to GlassNode, 925,914 Bitcoin addresses have been active in the past 24 hours. This rise in participation reflects the market’s interest and potential accumulation of next moves.
Bitcoin momentum builds with peak network activity
Bitcoin is positioning itself as it may be the beginning of a massive rally. After recouping the $90,000 level with strong momentum, the Bulls managed to push the price action toward a key psychological resistance of $100,000. Analysts are increasingly confident that a clean breakout above this level may inspire an ongoing uptrend within the market scope. Current technical settings suggest that Bitcoin is trying to get rid of the last historically high consolidation zone, suggesting a potential continuation of the wider bull cycle.
After months of sales pressure and uncertainty, Bitcoin has shown significant resilience. Prices have risen more than 15% since bottoming out in early April, regaining investor confidence and bringing back bullish sentiment. The push above $90K marks a critical shift in the structure, and the market has been focusing on confirming a complete reversal since then.
In bullish cases, on-chain indicators show a surge in network activity. Top analyst Ali Martinez stressed that 925,914 bitcoin addresses have been active in the past 24 hours, the highest number in the past six months. This upward signal marks a significant increase in user participation, often associated with the early stages of the new bullish leg. If this activity persists and the price exceeds resistance, you can set Bitcoin to enter unknown territory.
However, the risk is still vague. Global trade tensions, shifts in monetary policy and geopolitical uncertainty continue to cast a shadow on the wider financial landscape. Any drastic change in macro conditions could derail this momentum.
Technical details: $100,000 gaze
Bitcoin’s 4-hour chart shows a steady upward trend, with BTC trading currently at $95,933 after briefly hitting a high of $97,000. The price structure is still bullish than the 200-segment SMA ($87,335) and EMA ($89,812) and is now tilting upward, strengthening the strength of the ongoing rally. This shows that Bitcoin stays healthy after breaking into its multi-week range under $90K in mid-April.
In recent classes, the volume has been slightly reduced, which may indicate temporary exhaustion or pause before the next major action. Bulls can control as long as the area price exceeds $93K-$94K, which is now supported after becoming a resistive zone during the consolidation phase.
The next major resistance is psychological and structural: $100,000. As marked, a clean break above this marker could trigger the $103,600 level. If the Bulls can’t push as soon as possible, a short-term pullback to the $92,000 region will not invalidate the bullish trend, but rather indicates that more accumulation is needed.
Featured images from DALL-E, charts from TradingView
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