Bitcoin (BTC) price analysis: bulls target $100K

Bitcoin demonstrated renewed strength this week, posting gains of over 10% as determined buyers pushed the price back towards the significant overhead resistance level near $95,000.

Bitcoin (BTC) demonstrated renewed strength this week, posting gains of over 10% as determined buyers pushed the price towards the significant overhead resistance level.

While consolidating below this key hurdle, the fact that buyers didn’t cede significant ground suggests underlying bullish conviction, further supported by robust institutional inflows and optimistic analyst projections.

The sharp upward move in Bitcoin’s price has been significantly bolstered by resurgent buying activity in the US spot Bitcoin exchange-traded funds (ETFs).

Data from Farside Investors showcased impressive weekly inflows totaling $3.06 billion into these funds.

Highlighting this influx on X, Bloomberg ETF analyst Eric Balchunas noted how it was interesting to see “HOW FAST the flows can go from 1st gear to 5th gear.”

This signaled a rapid acceleration in institutional demand.

This renewed buying coincides with bullish technical and quantitative signals. 21st Capital co-founder Sina noted on X that Bitcoin had reclaimed its “power-law price,” a model suggesting considerable long-term upside.

Sina’s Bitcoin Quantile Model projects potential targets between $130,000 and $163,000 by the end of 2025.

Other anonymous analysts, like apsk32, hold even more ambitious short-term targets, predicting a move above $200,000 in the fourth quarter of this year.

Bitcoin (BTC) price analysis

The price chart reveals a tense battle unfolding near the critical $95,000 resistance.

Technical indicators currently favor the bulls: the 20-day exponential moving average (EMA), sitting around $88,619, is sloping upwards, and the relative strength index (RSI) is positioned near overbought territory, signaling strong buying momentum.

A decisive close above the $95,000 mark could act as a powerful catalyst, potentially propelling the BTC/USDT pair towards $100,000 and subsequently to the $107,000 region.

However, sellers are expected to mount a strong defense in the zone between $107,000 and $109,588.

Conversely, the 20-day EMA serves as crucial near-term support.

A break below this level would invalidate the immediate bullish momentum and potentially pull the price back into the broader range between $73,777 and $95,000.

Looking at the 4-hour chart, bears are actively defending the $95,000 level but have struggled to push the price decisively below the shorter-term 20-EMA.

This indicates a potential rebound off the moving average, which would strengthen the case for an eventual breakout above $95,000, targeting $100,000.

However, failure to hold the 4-hour 20-EMA could lead to a deeper pullback towards the 50-simple moving average (SMA), a key level bulls must defend to prevent a slide towards $86,000.

Sui (SUI) price analysis

The price chart of Sui (SUI) shows that the token has encountered resistance near the $3.90 level.

However, the pullback from this high has been relatively shallow, suggesting that buyers are holding their positions rather than rushing to take profits.

If the price remains above the 38.2% Fibonacci retracement level at $3.14, buyers are likely to make another attempt to push the SUI/USDT pair above $3.90.

A successful breakout could see the price surge towards $4.25 and potentially $5.00.

On the downside, a break below $3.14 would signal the start of a more significant correction, potentially targeting the 50% retracement level at $2.94.

Buyers are expected to defend the zone between $2.94 and the 20-day EMA (currently around $2.69).

The 4-hour chart shows support near the 20-EMA, but sellers remain active at higher levels.

A break below the 4-hour 20-EMA could trigger a drop to $3.14, while a push above the 3.81−3.90 resistance is needed to confirm the next leg up towards $4.25.

Avalanche (AVAX) price analysis

Avalanche (AVAX) has been consolidating within a range defined by support at $15.27 and resistance in the vicinity of $23.50.

Trading within such ranges often involves buying near support and selling near resistance.

While buyers haven’t yet managed to break decisively above $23.50, the fact they haven’t given up much