Bitcoin's "key resistance level" broken! Analysts optimistic: continue to push and challenge the $100,000 mark

Bitcoin bullish momentum heats up again, yesterday (14th) first broke through the repeatedly suppressed $95,000 level, and early this (15th) morning surged to $97,800. As the key resistance level was broken, analysts believe that Bitcoin still has room to advance, and may even challenge the $100,000 milestone. As of the time of writing, Bitcoin has pulled back to around $96,500 and is fluctuating, with a 24-hour increase of 1.2%.

Over the past two months, the $95,000 level has been like an insurmountable “iron plate,” repeatedly acting as a top and pulling back, accumulating heavy selling pressure. Now that it has broken through with high volume, it is seen as a key signal of a market sentiment reversal. FxPro Chief Market Analyst Alex Kuptsikevich said:

From a technical perspective, Bitcoin has opened an upward channel toward the $100,000 to $106,000 range, supported by psychological levels below and constrained by the 200-day moving average (200-day MA) above.

He emphasized that Bitcoin is currently not only holding above $95,000, the highest level since November 17, last year, but also far above the 50-day simple moving average (50-day SMA), with an overall bullish pattern. Singapore-based crypto trading firm QCP Capital added that recent strength in precious metals, as safe-haven assets during geopolitical turmoil, is indirectly supporting Bitcoin; as long as gold and silver continue to be bought due to inflation expectations, Bitcoin’s relative value as “digital gold” will become more prominent, attracting capital back into the crypto market. QCP Capital stated that the overall economy is currently in the so-called “Goldilocks Scenario,” meaning the economy is “not too hot, not too cold,” creating an optimal environment that boosts market risk appetite:

US employment data remains solid, inflation levels are relatively stable, prompting a full risk-on sentiment, with capital flowing back into stocks, precious metals, the dollar, and cryptocurrencies.

According to data from Deribit, the world’s largest cryptocurrency options exchange, in the past 24 hours, call options (bullish options) with strike prices at $96,000, $98,000, and $100,000 have been the most actively traded, indicating the market is betting on Bitcoin moving toward a “six-figure price.” LMAX Group Market Strategist Joel Kruger said that Bitcoin breaking through $95,000 is a sign of a renewed risk appetite in the overall crypto market. He stated:

This rally has reawakened bullish momentum in the market, refocusing investors on the $100,000 level, and potentially challenging new all-time highs.

Kruger also pointed out that the stable performance of traditional financial markets provides support. Recently, US stocks have remained steady, and bond yields have stabilized, creating a favorable environment for a crypto rebound. He also mentioned that this breakout was accompanied by a surge in trading volume, indicating that the price increase was driven by new demand. Meanwhile, data from CoinGlass shows that funding rates in the perpetual contract market remain low, suggesting there is no excessive speculation or leverage risk. He emphasized: