Key Takeaways:
-
Bitcoin gained 10% last week, but overhead resistance continues to prevent a rally at $ 100,000.
Bitcoin (BTC) showed strength as the week opened on April 28, up to 10% in the last seven days to trade at $ 95,500.
Data from Cointelegraph Markets Pro and Bitstamp shows that the BTC price has been restrained under $ 100,000 since early February, as shown in the chart below.
Bitcoin lacks a $ 100k catalyst
The BTC/USD pair rallied 30% from the $ 74,400 low reached on April 7 to trade above $ 95,000, a recovery mainly by avoiding US-China's tariff tensions.
Although the rally was accompanied by $ 3.06 billion in spots ETF Inflows, there were doubts if it was enough to break the Bitcoin with the integration.
In the latest subscribers of the Bulletin to Telegram Channel, the trading firm QCP Capital argued that Bitcoin's degeneration from the equality of last week has strengthened its narrative as a “fence against political instinct and uncertainty policy.”
It helped the BTC comfortably break $ 90,000, explained by the QCP Capital, which added that it also helped push it higher.
However, BTC pivoted midweek, decoupling from gold and rallies alongside US equality, mainly responds to macroeconomic factors.
“This flip-flopping between safe behavior and danger of risk suggests that traditional touch frameworks are becoming less teaching. Instead, market participants are now focusing on the durability of the” UP “BTC trend.”
On April 25, the trading firm said the BTC price could continue its choppy price for a few more days, focusing that it lacks a “catalyst” to push it to $ 100,000.
The investment firm said:
“With the dangers of macro temporarily covered and the cooling of trade tensions, the BTC is likely to combine – combined with a narrow $ 90k – $ 94.5k covered while waiting for a catalyst for a decisive push towards the elusive $ 100k mark.”
Meanwhile, crypto analyst Tazman mentioned That lack of “prolonged demand and fresh capital” stands in the way of Bitcoin's path to $ 100,000.
Related: Bitcoin $ 100k Hopes on Ice, SBF's mysterious prison move: Hodler's Digest, April 20 – 26
Bet buyers and sellers in a tug of war
Bitcoin holds above its annual openness to $ 93,340, which serves as a sunny support.
In a post on April 24 on X, popular entrepreneurs emphasize the importance of the current price range, saying that if it holds it, it can target $ 106,000 next.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
