What is the market waiting for after BTC breaks through 96,000

According to the latest news, BTC has broken through the 96,000 USDT level, with the current price at 96,019.4 USDT. This breakthrough occurred at a special moment—during a general correction trend in the crypto market. Against the backdrop of the RWA sector leading the decline at 3.51% and multiple mainstream coins adjusting, this breakthrough by BTC is particularly significant. It reflects not only a price-level breakthrough but also the market’s continued confidence in Bitcoin.

The Market Conditions Behind the Breakthrough

Calm Amidst the Strong Breakout

From the data, BTC has increased by 3.42% in the past 24 hours, with a 7-day gain of 0.91% and a 30-day increase of 6.33%. This pace of growth is not aggressive but remains steady. In terms of market capitalization, BTC has reached $1.88 trillion, accounting for 58.71% of the entire crypto market. This indicates that during the overall market correction, BTC’s resilience has become the “cornerstone” of the market.

It is worth noting that although the crypto market has experienced a broad correction in recent days, BTC has defied the trend by breaking through key price levels. This divergence suggests that institutional and large capital demand for Bitcoin remains robust.

Signals of Capital Differentiation

According to the latest data, the holdings of Bitcoin by listed companies reflect differing institutional attitudes:

This indicates that although some institutions are taking profits, the number of companies increasing holdings is significantly higher than those reducing, showing an overall positive attitude.

Whale signals are also present. The “Lightning Reversal” whale, despite reducing some long positions (with a floating loss of $4,401), still maintains a 20x leveraged long position of 16.96 BTC (approximately $1.55 million), indicating confidence in the subsequent market trend remains intact.

Technical Aspects and Market Expectations

The Significance of Key Price Levels

The 96,000 USDT level is an important psychological threshold for Bitcoin, just one step away from $100,000. Breaking through this level signifies that the market is testing higher price ranges, which typically attracts more incremental capital inflows.

According to the latest technical analysis, BTC’s support levels are in the 90,000-91,000 range, with resistance at 93,000-94,000. The current price has already broken through these resistance levels, with the next key target at 100,000 USDT.

Opportunities in Capital Rotation

Analyst Garrett Jin recently pointed out that the Nasdaq 100 index has underperformed, while the Russell 2000 index continues to hit new highs, indicating that funds are rotating from large-cap stocks to small- and mid-cap stocks. As high-beta risk assets, BTC and ETH are expected to be the next targets for capital inflows. This macro trend provides support for BTC’s continued upward movement.

Key Points to Watch Moving Forward

• $100,000 level: This is the next important psychological price point; the probability and timing of breaking through are worth monitoring.
• Institutional application progress: Morgan Stanley’s BTC ETF application may be approved as early as March 23, which could bring incremental market funds.
• Overall market trend: If the crypto market’s correction ends, BTC, as a leading risk asset, may see stronger upward momentum.
• Whale movements: Continuous monitoring of large capital positions—building or reducing—often serves as a leading indicator of market sentiment.

Summary

BTC’s breakthrough of 96,000 USDT appears particularly resilient amid the overall market correction. Institutional holdings are increasing more than decreasing, whales maintain long positions, and capital rotation trends are evident—all signals pointing in the same direction: market confidence in Bitcoin’s medium-term outlook remains strong.

However, the current price action is still relatively calm. The real test lies at the $100,000 level. Whether it can be broken and how sustained the breakout will be will determine the strength of this rally. In the short term, fluctuations between 96,000 and 100,000 may continue, but based on large capital deployment, the probability of an upward move seems greater.