TL;DR
- Bitcoin recovers and surpasses $90,000, reaching $90,129.37 with a daily increase of 0.61%.
- Decreased selling pressure from short-term holders boosts price stability.
- The market anticipates a potential attempt to reach the all-time high of $93,265 again.
Bitcoin (BTC), the most prominent cryptocurrency in the market, managed to regain ground after days of volatility and is currently trading at $90,129.37, according to data provided by CoinMarketCap.
This rebound, representing a growth of 0.61% in the last 24 hours, comes after a period of pressure from short-term holders, which briefly pushed the price below the psychological barrier of $90,000.
In previous sessions, Bitcoin’s price was marked by significant fluctuation, primarily driven by short-term sellingrecorded in the Spent Output Age Bands (SOAB).
These data, analyzed earlier, revealed that recent investors took advantage of historic price levels to secure quick profits, significantly impacting the market.
However, current activity suggests stabilization in this trend, fostering a return to optimism.
Bitcoin and its path to $100,000
The recent rebound of Bitcoin could be interpreted as a sign of market resilience.
The decline in selling from short-term holders appears to have allowed the price to regain momentum, increasing the chances of testing the all-time high of $93,265 again.
If it manages to surpass this level, the asset could head toward the highly anticipated $100,000 mark, a milestone many analysts consider key to solidifying its position in the global market.
Despite this encouraging outlook, volatility remains a critical factor. A resurgence of selling pressure or changes in the macroeconomic environment could push the price back to key support levels, such as $87,000 or even $83,792.
The confidence of long-term holders, who have remained firm in their positions, will be crucial to sustaining upward momentum.
Meanwhile, the market remains alert to upcoming signals of activity on exchanges and movements by large holders.
The next few days will be pivotal in assessing whether Bitcoin can continue its upward trajectory or if it will need more time to consolidate before reaching new heights.
The possibility of breaking the $100,000 barrier seems closer, but it depends on whether demand can outweigh the inherent volatility of this market.
