BTC and the $95K Challenge: Critical Resistance, DXY Decline, and Whales on the Move
News:
On April 23, 2025, the crypto market finds itself at a decisive juncture. Bitcoin (BTC) retested the $93,000–$94,000 zone, drawing ever closer to the psychological and technical resistance at $95,000—a barrier it hasn’t cleared since January.
From a technical standpoint, the price remains above the 20-day EMA on the daily chart, a bullish momentum signal. Additionally, the RSI sits at 61 with no overbought warnings, suggesting there’s still room for an upward thrust without severe pullbacks.
What’s driving this silent rally?
First, the DXY (U.S. Dollar Index) has weakened for the third consecutive day, acting as a catalyst for crypto strength—traditionally, a softer dollar correlates with stronger Bitcoin. Plus, open interest in BTC futures rose by 6.3%, indicating renewed institutional appetite.
Meanwhile, Santiment data shows accumulation by wallets holding over 10,000 BTC, hinting at strategic hoarding ahead of a potential breakout. Transactions above 100 BTC jumped 18% in the past 48 hours.
Key levels to watch:
• Critical resistance: $95,000 – both a technical and psychological ceiling. A decisive break could target $101K–$105K.
• Key support: $89,000 – aligns with the 50-day EMA and the 38.2% Fibonacci retracement.
• Daily MACD: has just crossed bullishly, another sign of strengthening momentum.
In conclusion, the market sits on a knife’s edge. If Bitcoin can hold above $95,000 with rising volume, we could see a parabolic move. But beware: the whales are on the move, and the market spares no one who gets caught off guard.
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Do you think Bitcoin will successfully close above $95,000 this week? Share your strategies and price targets below!