Bitcoin is edging closer to profitability as early bull signals emerge, reviving hopes for a breakout past $98K—and even the $100K psychological barrier.
The MVRV ratio recently bounced from the key 1.74 level, historically marking the start of major rallies. IOMAP data shows that over 649,600 BTC—worth $61.6B—was bought between $95.1K and $97.4K, forming a strong support zone.
BTC is now trading at $94.7K, testing the $95.7K resistance. A breakout could open the way toward $98K and potentially $100K.
But if BTC fails to hold $93.6K, it could slide to $91.5K—invalidating the short-term bullish outlook.
Is this the start of Bitcoin’s next major move—or a fakeout before a deeper dip?
Drop your thoughts below! 👇
