Bitcoin has seen a 28% rebound from a five-month low below $75,000, but faces resistance at $95,000, raising concerns of a potential bull trap. Strong spot price momentum and inflows from Bitcoin ETFs suggest a possibility of pushing towards $100,000. The price momentum indicator recently rose significantly, indicating strong bullish momentum but also hinting at potential short-term cooling periods. The spot market’s cumulative volume delta (CVD) remains strong, despite a slight pullback, indicating persistent buying pressure. A technical analysis shows that Bitcoin is forming a bull flag pattern, with a potential target of $108,300 if it breaks key resistance at $95,000. Analysts speculate that Bitcoin is preparing for a significant move, targeting $100,000 and beyond. The presence of high profitability metrics reduces the possibility of a major crash, indicating a shift in market sentiment toward the upside.

Source 🔗