Bitcoin is once again drawing global attention after Standard Chartered projected a potential surge to $120,000 by Q2 this year. The banking giant attributes this bullish forecast to Bitcoin’s sustained strength and increasing institutional interest.
Currently, $BTC is trading in the mid-$90,000 zone. Analysts say its trajectory could be influenced by macroeconomic developments, including the U.S. Federal Reserve’s upcoming May meeting and persistent inflationary pressures. Still, many believe the market has weathered the worst and may be primed for further gains.#BTCRebound
Price Movement Insights
Bitcoin recently tested a crucial support band between $93,220 and $94,244, bouncing back after a corrective three-wave decline last Friday. This rebound has fueled optimism among traders, with many eyeing a short-term target near $96,275 provided current support levels continue to hold.
Navigating a Volatile Market
The overall sentiment remains cautiously bullish despite ongoing price volatility. The market has been fluctuating within a tight range, with key resistance at $95,450. A breakout above this level could pave the way for fresh upward momentum.
While no definitive top has formed yet, BTC’s strong foundation has kept bulls engaged. With critical support zones intact, the possibility of another leg up remains firmly on the table.
Amongst the Top 10 gainers of the week, Royalty (ROY) is sitting around $1.19 right now, barely moving (+0.04% in the last day). Trading volume’s decent at about $96K.
It’s been a pretty wild week though the price swung between $0.48 and $4.80.
A few weeks back (April 3), it even touched an all-time high of $19.29 before cooling off.
Most of the action is happening on BingX (mainly the ROY/USDT pair).
