Bitcoin’s powerful return to above 93 thousand dollars; The next goal is $100,000?

study time: 2 minutes

After the sharp fall on Sunday, which was caused by the liquidation of leveraged trades, Bitcoin has risen again to the $93,000 range, and this return has increased hopes for the continuation of the upward trend.

Analysts believe that if Bitcoin can overcome the resistance of the $92,000 range, the path will be paved to touch the $100,000 level and record a new historical high.

Analyst Michael VandePope says that the recent fall was so severe that it seemed even faster than the falls related to Luna, the FTX exchange and the Covid era; But the quick return of the price and passing 92 thousand dollars can be the spark of the next buying wave.

Other analysts also point to the easing policies of the Federal Reserve and increased capital inflows into crypto ETFs as the engine driving the rise. The $86,000-$88,000 support range remains critical to maintaining the market structure and is said to have held more than 60 times in recent months without a break.

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Overall, the recent price rebound has fueled bullish sentiment and brought many retail investors back into the market; However, a re-break of support could activate bearish scenarios.