$BTC

Bitcoin has shown remarkable strength, recently crossing the $95,000 mark.

This surge marks its most robust weekly performance since November 2024, reigniting bullish sentiment in the market.

Several factors contribute to this upward momentum, including sustained inflows into Bitcoin ETFs, significant coin purchases by MicroStrategy, and optimistic comments regarding potential friendlier US regulations.

The break above $95,000 has put the $100,000 milestone within reach, with some analysts suggesting an even more ambitious target of $1 million could materialize sooner than previously anticipated.

This optimistic outlook is partly fueled by historical price patterns and the potential for global monetary debasement.

Technically, Bitcoin faces some resistance around the $95,000 level, a point that aligns with Fibonacci retracement levels and previous highs.

A decisive close above this could pave the way for further gains, potentially towards the $97,000 - $100,000 range.

On-chain data reveals decreasing Bitcoin supply on exchanges and increased long-term holder accumulation, further supporting a bullish outlook.

However, short-term pullbacks remain a possibility, and traders are closely monitoring market sentiment and trading volumes for confirmation of continued upward momentum.