Bitcoin Targets $100K — Is It Closer Than We Expected?

Bitcoin [BTC] has continued to rise over the past week, rising from a local low of $83,000 to a high of $95,000.

In fact, at press time, Bitcoin is trading at $94,061, up 11.75% on the weekly chart. The recent price increase reflects the strong upward momentum of the cryptocurrency.

Looking at Bitcoin’s MACD, it has surged from 137 to a year-to-date high of 2814. The rise in MACD indicates strong bullish momentum in the market and a significant increase in prices.

Usually, higher levels signal a continuation of an existing trend.

Therefore, this means that the current upward trend is likely to continue if demand also rises or remains the same. It is worth noting that the market is in high demand and buyers are very active.

With buyers dominating and the upward momentum strong, BTC’s price chart is expected to see more gains.

What does the Bitcoin chart suggest?

According to AMBCrypto’s analysis, Bitcoin is experiencing strong upward momentum. The current market conditions set the stage for further gains for the cryptocurrency.

First, Bitcoin is experiencing sustained bullish sentiment from all market participants. Therefore, these bullish participants are taking strategic positions in the market.

We can see this bullish market sentiment in multiple ways.

First, Bitcoin’s fund market premium has turned positive and stabilized at 0.2.

A positive fund premium indicates that investors, especially institutional investors, are experiencing enthusiasm and “fear of missing out” (FOMO) sentiment. Therefore, there is a strong demand for Bitcoin across the market, including the traditional financial sector.

Moreover, other market participants are also bullish as Bitcoin’s fund flow ratio has dropped to a low of $0.078.

This decline indicates an increase in holding behavior as investors prefer to move BTC to cold storage and private wallets – a classic sign of long-term conviction.

What’s next?

Bitcoin continues to attract strong demand, with investors entering at key strategic levels.

If the current momentum holds and demand remains strong, BTC could see a significant upside.

The next key target is $96,000, a level that is very important as it represents the entry price for short-term holders who have held Bitcoin for three to six months.

Converting $96,000 into support could pave the way for a rally above $100,000.

However, profit-taking by recent gainers, especially those who have held BTC for one to three months, could lead to a price consolidation between $88,000 and $94,000.

Therefore, reclaiming the $96,000 mark and converting it into support remains crucial for Bitcoin’s next upward trajectory.