BTC and the $95K Challenge: Critical Resistance, DXY in Decline, and Whales in Motion.
On April 23, 2025, the crypto market is in a decisive phase. Bitcoin (BTC) has once again tested the $93,000-$94,000 zone, approaching the psychological and technical resistance of $95,000, a barrier it has not surpassed since January.
From a technical perspective, the price remains above the 20 EMA on the daily chart, a positive signal of bullish momentum. Additionally, the RSI is at 61, with no signs of overbought conditions, indicating there is still room for an increase without aggressive corrections.
What is driving this quiet rally? Firstly, the decline of the DXY (Dollar Index), which has been losing strength for the third consecutive day, is acting as a catalyst for the crypto market. A weak dollar is often correlated with a stronger Bitcoin. Furthermore, open interest in BTC futures has increased by 6.3%, suggesting a rekindling of institutional appetite.
On the other hand, data from Santiment reveals accumulation by wallets holding more than 10,000 BTC, which could be interpreted as strategic accumulation ahead of a breakout. The number of transactions over 100 BTC increased by 18% in the last 48 hours.
Key points to observe:
• Critical resistance: $95,000 - Technical and psychological level. If broken, the next target would be between $101K and $105K.
• Relevant support: $89,000 - Coincides with the 50 EMA and the 38.2% Fibonacci retracement.
• Daily MACD: Just crossed upward, another technical signal of strengthening.
In conclusion, the market is at a turning point. If Bitcoin manages to consolidate above $95,000 with increasing volume, the movement could become parabolic. But beware: whales are on the move, and the market does not forgive the distracted.
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