$BTC Bitcoin (BTC) has shown strong upward momentum, currently trading around $97,000 after breaking through key resistance levels. This surge follows optimism surrounding potential US-China trade discussions, improving overall market sentiment. On-chain metrics indicate a bullish outlook, with MVRV bands and the percent supply in profit oscillator showing positive trends reminiscent of previous recovery periods.

Bitcoin's market capitalization stands at approximately $1.89 trillion. Trading volumes have also seen a significant increase, reflecting heightened interest. Analysts are eyeing potential targets above $100,000, with some predicting a rally towards $120,000-$150,000 by late summer. However, the Relative Strength Index (RSI) is nearing overbought territory, suggesting a need for caution as a potential correction could occur after such rapid gains.