$BTC BTC: Neutral, with a bullish twist

Bitcoin is currently consolidating around the $95,000 mark, with prevailing bullish momentum intact. On the weekly chart, key momentum indicators and oscillators remain in neutral territory, suggesting a period of stabilization following recent gains. However, the daily chart paints a more dynamic picture: both the Relative Strength Index (RSI) and Stochastic indicators are in overbought territory, while the MACD remains above its signal line, reinforcing the bullish bias. Additionally, the price is approaching the upper band of the Bollinger Bands, a further indication of short-term overbought conditions.

On the upside, immediate resistance levels are situated around $98,500, followed by the psychologically significant $100,000 mark, and further at $102,500.On the downside, initial support is seen near $91,000, with a broader support zone between $88,000 and $90,000 if the price retraces further.

Overall, BTC remains in a strong position, but overbought signals on lower timeframes suggest a potential for short-term volatility around key resistance levels.

Bitcoin's fundamentals:

Consolidation with catalysts building

With the technical picture addressed, it's time to turn the page - and when it comes to Bitcoin's fundamentals, the story is getting a lot more exciting.

• Spot Bitcoin ETFs surge

U.S. spot Bitcoin ETFs recorded over $3 billion in inflows last week — their second-best week on record.

• Mining costs climb

The average cost to mine one Bitcoin among public miners rose to over $82,000 in Q4 2024, with total production costs exceeding $137,000. Rising input expenses and potential tariff risks could constrain new supply, adding upward pressure to prices ove the medium term.

• Fidelity sees strong fundamentals

According to Fidelity, Bitcoin's fundamentals remain robust despite short-term price volatility. Their latest report highlights that key technical structures - such as the golden cross formed in late 2024 - are intact, while on-chain data show continued accumulation by long-term holders.