Bitcoin Hits 7-Week Highs, Then Slips Below $94K as Analysts Doubt Immediate $100K Breakout

Analysts See No Immediate Catalyst for $100K Breakout.

Traders Caution Over Pace of Rally Amid Mounting Sell Pressure

Despite recent bullish moves, analysts argue that Bitcoin still lacks a strong catalyst to sustain a breakout toward $100,000.

Bitcoin (BTC) briefly surged to seven-week highs above $95,000 following the Wall Street open on April 25 but has since retreated below $94,000, fueling skepticism over the strength of the latest rally.

According to data from Cointelegraph Markets Pro and TradingView, BTC/USD initially preserved support at its yearly open of $93,500, leading to a wave of leveraged short liquidations. However, the gains proved short-lived, as sellers reasserted pressure near key resistance levels.

Buyer-Seller Battle Shifts Momentum

Bitcoin’s brief move toward $95,000 triggered a tug-of-war between buyers and sellers, with market participants warning of heightened volatility. Data from CoinGlass showed ongoing liquidity absorption across exchange order books during the spike.

However, signs of caution grew as BTC price failed to hold above $94,000. Skew, another trader, warned of the underlying fragility, noting that a passive buyer had been absorbing selling pressure — but that market dynamics could shift rapidly.

"Price would be a lot lower than it is now without the passive buyer matching this market selling," Skew said. "Eventually one will throw in the towel & volatility will follow through."

Analysts See No Immediate Catalyst for $100K Breakout.

Despite recent bullish moves, analysts argue that Bitcoin still lacks a strong catalyst to sustain a breakout toward $100,000.

Keith Alan, cofounder of Material Indicators, pointed to declining volume, repeated wicks below $93,500, and a bearish signal from proprietary trading indicators.