Bitcoin is experiencing a fresh wave of optimism for recovery, with crypto market analysts targeting six figures as the cryptocurrency rose above $92,000 after dipping to $84,500.
“This is exactly what you’d want to observe. [Bitcoin] is moving back up again, following a strange drop on the 1st of this month,” stated MN Fund founder and analyst Michaël van de Poppe on Tuesday.
He noted that it was “essential” for Bitcoin (BTC) to surpass $92,000.
“If that level holds, I’m confident we’ll witness a new all-time high and a test at $100,000.”
Van de Poppe compared the current price conditions of Bitcoin to its past cycle and speculated whether its recent drop was the final shakeout.
“All indicators have significantly overextended on the last Bitcoin crash, suggesting that the downturn was more severe than that of Luna, FTX, or COVID,” he remarked.
Bitcoin peaked at $93,040 on Coinbase in early trading on Wednesday, according to TradingView. It regained all its losses from a leverage flush late on Sunday that shaved off $8,000 from its price.
Macroeconomic tailwinds to drive markets
Nick Ruck, director at LVRG Research, expressed to Cointelegraph his confidence that Bitcoin will reach six figures again in the coming months.
“With Bitcoin’s resilience highlighted amidst evolving regulatory contexts and institutional adoption in late 2025, we foresee a strong path to reclaim the $100,000 mark soon,” he stated.
Related: Bollinger Bands indicate Bitcoin bottom won’t fall below $55K
Ruck also mentioned that Bitcoin’s ascent would be “fueled by macroeconomic tailwinds, including renewed Fed rate cut potential and returning ETF inflows.”
Key support zone determines next direction
Before the rebound, analysts pointed out the $86,000 to $88,000 level as a crucial support zone that must hold.
“This level has been tested sixty times in recent months without breaking, making any violations particularly notable,” noted analyst “Crazzyblockk.”
“Trading above this level indicates lower selling pressure as active traders maintain profitable positions,” they added. The upcoming week will be vital as defending this level preserves the market structure.
“Breaking below triggers scenarios targeting lower prices as sophisticated participants transition from accumulation to distribution.”
Bitcoin was trading at just over $92,700 at the time of writing, reflecting a 7% increase over the past 24 hours.
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