This breakout occurred after a well-defined double bottom formed around the major support zone near $74,000. The inability to create a new low and the sharp rejection from that zone confirmed strong buyer presence and marked a clear exhaustion of sellers.
The market is now following through with a solid bullish impulse, pushing past intermediate resistance and confirming the continuation of the ascending channel structure. With buyers stepping in aggressively and price respecting bullish market structure, Bitcoin now appears poised to reach the next significant resistance zone around $106,000, which also aligns with a big resistance level.
From a fundamental perspective, Bitcoin is gaining strength due to several key macroeconomic shifts. The recent escalation of trade tariffs by the Trump administration has heightened economic uncertainty, driving investors to seek alternative assets outside traditional markets. Historically, Bitcoin has thrived during such periods of instability, acting as a hedge against fiat volatility and centralized policy manipulation.
Adding to this backdrop, global central banks continue tightening monetary policy, increasing fears of a recession. As inflation remains sticky and growth slows, capital is flowing into assets with limited supply and no centralized control, reinforcing Bitcoin’s position as digital gold.
Meanwhile, institutional adoption continues to climb. Spot market activity is increasing, and institutional investment vehicles are seeing significant inflows. Improvements in regulatory clarity and market infrastructure are reducing barriers, allowing larger players to participate confidently. This deepening institutional interest is providing a strong foundation for sustained price movement toward $106,000.
The convergence of powerful technical patterns, especially the confirmed breakout and continuation within the ascending channel, along with strong macro and institutional support, points to a likely continuation of Bitcoin’s upside momentum.
Traders should closely monitor confirmation signals, such as bullish volume surges, strong candle closures above the $90,000 breakout level, and continuation patterns forming on lower timeframes to validate this scenario.