Source: Cointelegraph
Original: “Bitcoin (BTC) Soars to Seven-Week High, but Analysts Doubt Rebound to $100,000”
Key Points:
As BTC/USD reaches its highest level since early March, Bitcoin is experiencing a tug-of-war between buying and selling volumes.
Due to the rapid increase in recent times, the price movement of BTC has made traders increasingly cautious.
Several commentators have stated that breaking the $100,000 mark may still be difficult in the short term.
After the Wall Street opening on April 25, Bitcoin faces key resistance levels, and the market remains skeptical about its price breakout.
Intense Battle for Dominance Between Bitcoin Bulls and Bears
Data from Cointelegraph Markets Pro and TradingView shows that BTC/USD has broken through the $95,000 mark, reaching a seven-week high.
After successfully turning the year-to-date opening price of $93,500 into an intraday support level, Bitcoin began to liquidate leveraged short positions as the price approached the $100,000 mark.
Monitoring agency CoinGlass's latest data shows that the upper liquidity on the exchange order book is gradually being absorbed.
Well-known trader Daan Crypto Trades emphasized the importance of the current price range in Bitcoin's bull market.
"We are trading back above the bull market support band," he wrote in a post on the X platform, referring to a set of moving average support levels that were lost in early 2025.
"If we can close above this position by the end of the week, it will be beneficial for the larger time frame trend. As long as we stay above this level, I expect new highs will eventually be reached."
Other analysts, however, remain cautious. Trader Skew pointed out that there is currently a tug-of-war between large buyers and sellers in the market.
"If there are no passive buyers to absorb the market selling pressure, prices will be far below current levels," he warned while posting a screenshot of the order book.
"Ultimately, one side will have to concede and exit, which will trigger significant volatility."
Waiting for the "Catalyst" to Break Through the $100,000 Mark
Keith Alan, co-founder of trading analysis firm Material Indicators, also questioned whether BTC/USD can maintain its position above $95,000.
Alan pointed out three key signals: price increases accompanied by declining volume, repeated long lower wicks below the year-to-date opening price, and "bearish" signals from their proprietary trading tools.
"In my view, if the price breaks above $95,000, it will negate this new signal, but unless there is a substantial catalyst, I tend to think this rise is just a short squeeze," he summarized.
From a macroeconomic perspective, it also appears that the Bitcoin to USD exchange rate may experience a consolidation period before returning to six-figure price levels.
Trading firm QCP Capital noted in its latest briefing sent to Telegram channel subscribers that Bitcoin currently lacks the "catalyst" to break through $100,000.
"Given the speed of the recent rally, we remain strategically cautious," the report stated.
"The market positions have become crowded, which may lead to more severe volatility reactions near key price levels. Market participants seem to be closely watching signals of trend continuation or exhaustion."
Related: Payment giant Stripe launches new stablecoin product testing, having previously completed the acquisition of Bridge
This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.
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