Bitcoin (BTC) Price Surges to Two-Week High, Breaking Above $90,000

Bitcoin (BTC) price has surged to a two-week high, crossing the $91,000 mark, following a strong period of upward momentum.

Bitcoin (BTC) price surged to a two-week high on Wednesday, August 9, as the cryptocurrency crossed the $91,000 mark following a strong period of upward momentum. This marks a significant achievement for BTC, which had faced recent volatility, but now appears to be on an impressive rally.

The Bitcoin price surge has drawn attention from market participants, as several analysts and traders share their views on what might come next for the leading cryptocurrency.

Bitcoin Price Surges Above $91K

Bitcoin’s recent movement has been notable for surpassing crucial resistance levels. The price managed to break through the $88,700 barrier and has set its sights on the next target: the $90,000 to $94,000 range. At press time, BTC price was trading at $91,245, a 3% surge from the intraday low and 7% up in the last week.

According to Daan Crypto Trades, a market analyst, Bitcoin price faces resistance from its 200-day simple moving average (SMA), which sits just above the $89,000 level. In a recent post, Daan emphasized that overcoming these levels is crucial for confirming a continued breakout. He added, “Quite a few resistances close by, but a few percentage moves and you’ll break through all of them.”

Traders have noted the strength of the momentum, pointing out that Bitcoin’s current rally could be part of a larger trend, potentially signalling the start of the third and final leg of the current market cycle. Michael Saylor, the strategy chairman of MicroStrategy (NASDAQ:MBI), also expressed optimism about Bitcoin’s growth. His simple post, “Bitcoin is Climbing,” resonated with market watchers who believe the cryptocurrency’s value will continue to rise.

Why Is BTC Price Rising Today?

Several factors appear to be contributing to Bitcoin’s recent price climb. One key element is the weakening of the U.S. dollar, which has created a more favourable environment for Bitcoin and other assets.

This is because, as the dollar weakens, Bitcoin has been seen as an inflation hedge, attracting investors. Moreover, the interest in exchange-traded products has also surged, as Bitcoin ETFs in the United States observed the most daily inflows since January 2025. This positive sign indicates that more institutional players are entering the Bitcoin space.

Recently, the famous author of "Rich Dad, Poor Dad," Robert Kiyosaki, gave his forecast and said that he has no doubt that Bitcoin can easily reach $180k or even $200k by 2025.

Furthermore, despite the continued volatile conditions in the global markets, the price of Bitcoin has remained quite stable. Analysing Bitcoin price movements, Bloomberg analyst Eric Balchunas observed that Bitcoin has shown a negative correlation with stock markets more recently. The global stocks have been under pressure, but Bitcoin rose, suggesting that it can act as a hedge with respect to stocks, especially to portfolios.

What’s Next for Price After Hitting Two-Week High?

After hitting its 14-day high, Bitcoin price will have to break one more level; the consolidation area is between $90,000 and $94,000. Based on these levels, analysts claim that the next reachable level might be $92,000, although some of the experts believe that BTC might even surpass this value despite some worries of a fake bullish breakout.

The previous high at the Kumo cloud also acts as a resistance level. In an analysis, Bitcoin is currently at the upper side of the Kumo Cloud, which is a highly resistant region according to crypto analyst Titan of Crypto. Should Bitcoin price close above this level, the next probable target would be the daily Fair Value Gap at $92,000.

According to analyst Crypto Rover, Bitcoin’s long-term outlook also remains positive, with analysts pointing to the increasing supply of long-term holders as another bullish signal. As more investors hold onto their Bitcoin for extended periods, the available supply on exchanges decreases, creating potential upward pressure on the price.