Bitcoin Breaks $91K: Will the Momentum Last?
Meanwhile, a 20-point drop in implied volatility over the past week has helped improve long-term sentiment, and eased pressure.
Quick overview
- Bitcoin is currently trading at $91,528, showing a 5% gain but remains 29% below its all-time high.
- The cryptocurrency market is experiencing a bullish trend, with Ethereum and several altcoins also posting gains.
- Bitcoin is testing resistance at $91,521, and breaking this level could lead to a rise towards $95,000 and potentially $100,000.
- Market sentiment is crucial for Bitcoin's volatility, with potential sharp price swings if the mood shifts.
Despite its impressive price surge, the world’s leading cryptocurrency is now caught in a battle between support and resistance levels.
The broader crypto market is showing a renewed bullish trend, reversing the losses of recent weeks. Bitcoin (BTC), still down 29% from its all-time high, is posting solid gains of 5% and now trades at $91,528.
Ethereum (ETH) is also moving higher, up 1.5% to $3,021, while altcoins are mostly in the green—led by Solana (SOL) with a 2.9% rise and Lido Staked Ether (STETH) with 2.5%.
The next challenges for Bitcoin’s price
BTC’s current value marks its highest level in more than a week after a stretch of losses. It remains firmly above the $89,800 support and is now testing resistance at $91,521, according to BeInCrypto data.
In this environment, market sentiment will play a crucial role in shaping BTC’s volatility over the coming weeks. The key battle lies at resistance: if buyers manage to break above $91,521, momentum could carry the price toward $95,000, and eventually toward the psychological milestone of $100,000. Conversely, fading bullish strength could send BTC back down toward support at $86,822 or even $85,204.
Meanwhile, a 20-point drop in implied volatility over the past week has helped improve long-term sentiment, easing pressure and boosting confidence in the market. Still, fragility remains—meaning any shift in mood could trigger sharp price swings in the leading cryptocurrency.
Finally, Bitcoin may take longer than other risk assets to return to its previous highs, given the deleveraging and volatility its investors recently endured.
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