Even as traders continue to face economic uncertainties related to fees on Friday, Bitcoin is settling near the $97,000 mark.
Friday's gains for most of the top 10 cryptocurrencies boost the attitude of crypto traders.
Originally MicroStrategy, the strategy raises its target to $15 billion in Bitcoin profits by 2025 and claims that MSTR stock is a 'shortcut to Bitcoin.'
As Washington signals that trade deals are nearing, economic anxiety related to trade seems to be easing, hence Bitcoin (BTC) aims to return to the $100,000 mark. As of Friday, the cryptocurrency market capitalization exceeds $3.13 trillion; Bitcoin maintains a steady proximity; most of the top 10 cryptocurrencies show gains in terms of returns for the day.
Strategy Inc., one of the largest corporate holders of Bitcoin, announced in its Q1 earnings call a target profit for the coin in 2025.
Bitcoin is at $97,000; the next target is $100,000.
On Friday, Bitcoin traded less than 5% away from $100,000. The largest cryptocurrency made gains despite market uncertainties and the shift in crypto traders' sentiment.
From Thursday's 'neutral', the Crypto Fear & Greed Index shows 'greed' among traders, thus indicating that sentiment is turning optimistic.
Bitcoin's technical signals are conflicting. With a reading of 70, the Relative Strength Index (RSI) falls exactly into the overbought area. The underlying momentum in Bitcoin's upward trend is good, as the Moving Average Convergence Divergence (MACD) shows green histogram bars simultaneously.
As the RSI has entered the 'overvalued' or 'overbought' zone, traders should pay close attention to indicators in case of potential reversal trends. Usually, a drop from this zone could set off a sell signal. As shown in the chart below, the historical MACD bars are continuously getting shorter.
