CandleFocus

Bitcoin Price at Crossroads: Will Bulls Drive $100K Rally?

Author: Content Editor
The cryptocurrency market has experienced a recent downturn, with global crypto market capitalization dropping from its peak of $3.79 trillion to $3.14 trillion. However, there has been a slight recovery, with the market bouncing back to $3.28 trillion, only losing 0.44% in the last 24 hours. Bitcoin has also seen a 1% gain in the same period, trading at $94,820 with a market cap of $1.87 trillion. Despite this rebound, there are challenges ahead, with the immediate test being the $95,868 resistance level. If Bitcoin clears this level, it could potentially surpass the $100K threshold, leading to further gains. On the other hand, failure to maintain upward momentum could result in a revisit to the $96K zone for support. On-chain metrics suggest a surge in buying activity, indicating a potential price surge, but the market remains volatile.

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