Bitcoin (BTC) Price Action: Bulls Target $100K But Must Defend Key Levels

Bitcoin is now trading above the $94,000 level, showing strong momentum after a sharp recovery from recent lows.

Bitcoin (BTC) has surged more than 28% since early April, sparking optimism across the crypto market. After weeks of bearish pressure and volatility, BTC's recent move above the critical $90,000 mark signals a major shift in sentiment.

However, despite the bullish price action, risks remain high. Global trade dynamics continue to create instability, while broader macroeconomic uncertainty still weighs heavily on investor confidence. Since US President Donald Trump’s election victory in November 2024, volatility has dominated global financial markets, and crypto assets have not been immune to these shocks.

Fear continues to linger even as Bitcoin soars. Many investors remain cautious, watching key levels closely to gauge whether this rally can truly be sustained. Any deterioration in trade negotiations could trigger sharp corrections, setting the stage for a return of volatility.

In a positive development, top analyst Maartunn shared insights on X, revealing that the Coinbase Premium Gap (30-hour moving average) has stayed positive for 265 straight hours—about 11 consecutive days.

This marks the fifth-longest buy-spree since ETF trading began, signaling that strong US-based demand continues to fuel the rally. If Bitcoin maintains this momentum and reclaims $95,000 soon, the path toward $100,000 could open. Until then, traders should remain attentive as volatility could return at any moment.

BTC Gains Strength But Caution Remains As Global Risks Persist

Bitcoin has gained over 28% in value since April 9th, reigniting optimism across the crypto market. After weeks of bearish pressure and volatility, BTC’s recent move above the critical $90,000 mark signals a major shift in sentiment.

Bulls are now pushing hard to reclaim the $95,000 level, a critical level that could signal the continuation of an uptrend toward new all-time highs. However, despite the growing optimism, risks remain elevated as global trade conflicts and macroeconomic uncertainty continue to weigh heavily on financial markets.

Conflict between the US and China persists, creating a fragile environment that could quickly impact investor sentiment. Still, Bitcoin has shown resilience, decoupling from traditional markets in recent sessions and maintaining strong price action even as equities falter.

According to CryptoQuant data, a key bullish signal is emerging: the Coinbase Premium Gap has stayed positive for 265 straight hours.

Historically, a positive premium reflects strong buying pressure from US-based investors, often preceding significant price rallies. This ongoing trend suggests that institutional demand remains healthy, supporting the current move higher.

While the short-term outlook is encouraging, Bitcoin must decisively break through $95,000 to confirm the next phase of the rally. Until then, traders should remain cautious as volatility could return at any moment.

The post Bitcoin Must Break Key Level To Confirm Next Rally Phase: Analyst appeared first on Chain Link.

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