Bitcoin is experiencing a surge of optimism regarding a potential recovery, with crypto market analysts eyeing six figures for the cryptocurrency, which has risen above $92,000 after previously dipping to $84,500.
“This is the type of movement you want to observe. [Bitcoin] rebounding after a strange downturn earlier this month,” stated MN Fund founder and analyst Michaël van de Poppe on Tuesday.
He emphasized that it is “essential” for Bitcoin (BTC) to surpass the $92,000 mark.
“If that level breaks, I’m confident we will see a new all-time high and approach $100,000.”
Van de Poppe compared Bitcoin’s present pricing scenario to its previous cycles, questioning if its recent decrease marked the final shakeout.
“All indicators showed significant overextension on the downside during Bitcoin’s last drop, suggesting that the crash was more severe than those of Luna, FTX, and COVID,” he remarked.
Bitcoin hit a 24-hour peak of $93,040 on Coinbase during early trading on Wednesday, according to TradingView. It has recovered all losses from the past two days following a leverage flush on Sunday that had knocked $8,000 off its price.
Macroeconomic tailwinds to drive markets
Nick Ruck, director at LVRG Research, expressed to Cointelegraph his belief that Bitcoin will reach six figures once more in the coming months.
“As Bitcoin demonstrates resilience amidst shifting regulatory landscapes and growing institutional interest expected in late 2025, we foresee a strong likelihood for it to reclaim the $100,000 mark soon,” he noted.
Related: Bollinger Bands indicate Bitcoin’s bottom won’t drop below $55K
Ruck added that Bitcoin’s ascent would be “propelled by macroeconomic tailwinds, including renewed potential for Fed rate cuts and resuming ETF inflows.”
Key support zone determines next direction
In a blog post leading up to the rebound, analysts pinpointed the $86,000 to $88,000 range as a crucial support zone that must hold.
“This level has endured sixty tests in recent months without failure, making any breaches particularly noteworthy,” stated analyst “Crazzyblockk.”
“Trading above this level indicates reduced selling pressure as active traders retain profitable positions,” they added. The upcoming week will be pivotal in maintaining this structure.
“Falling below could trigger scenarios targeting lower prices as seasoned participants shift from accumulation to distribution.”
At the time of writing, Bitcoin was trading slightly over $92,700, reflecting a 7% gain over the previous 24 hours.
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