#BTCBreaks99K
Bitcoin (BTC) has surged past the $99,000 mark, approaching the significant $100,000 milestone. This rally is attributed to the Federal Reserve's recent decision to maintain interest rates between 4.25% and 4.50%, which has bolstered investor confidence in risk assets like cryptocurrencies.
Institutional interest is also playing a pivotal role in this upward trajectory. Notably, BlackRock has increased its Bitcoin holdings, signaling strong long-term confidence in the asset. Additionally, on-chain data indicates a resurgence in accumulation by long-term holders, further supporting the bullish sentiment.
Technical analysts are closely watching the $99,000 to $100,000 resistance zone. A decisive breakout above this range could pave the way for new all-time highs, with some forecasts suggesting potential targets beyond $105,000.
As of now, Bitcoin is trading at around $98,769, with an intraday high of $99,835 and a low of $95,959.
The cryptocurrency community is buzzing with excitement. On platforms like Reddit's r/Bitcoin, users are celebrating the milestone and speculating on the next move.
As Bitcoin continues its ascent, all eyes are on whether it can sustain momentum and break firmly above $100,000.