According to on-chain analyst Ali Martinez (ali_charts), Bitcoin (BTC) is approaching a critical resistance level at $97,530, a breakout above which could pave the way to a new all-time high.
In a post shared earlier today, Martinez emphasized that $97,530 represents a significant barrier based on historical price action and technical indicators. If bulls manage to overcome this level with strong momentum, it could mark a decisive shift in the current consolidation phase and potentially send Bitcoin surging past its previous record highs.
Bitcoin is currently trading around $95,300, maintaining a narrow range after a strong 10% rally over the past week. The recent bullish price action has been supported by robust ETF inflows, easing trade war tensions, and increasing institutional demand.
