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#Bitcoin has surged back above the $90,000 level, signaling renewed strength as bullish momentum builds despite persistent global uncertainties. The broader market remains cautious amid escalating US-China tensions and ongoing concerns over inflation and economic slowdown. Nevertheless, optimism around Bitcoin continues to grow, with many analysts predicting the potential for an extended rally in the coming months.
One of the key bullish indicators comes from blockchain analytics firm Glassnode, which reports that Bitcoin has reclaimed the realized short-term holder (STH) price. This metric, tracking the average acquisition cost for recent buyers, often serves as a crucial psychological threshold influencing short-term market sentiment.
Breaking above this level is widely viewed as a strong sign of returning buyer confidence. As Bitcoin stabilizes above $90,000, attention now turns to whether it can build on this momentum and push toward new highs.
Bitcoin Faces Key Resistance as Bulls Strengthen Grip
After enduring weeks of heavy selling and a 30% correction from its peak, Bitcoin is showing clear signs of recovery. It is currently challenging a major resistance zone, a battle that could define its short-term direction. Bulls have regained control in recent sessions, and the focus now is whether they can maintain the $90,000 support level and propel the price higher.
This resurgence comes despite persistent macroeconomic challenges, including unresolved tensions between the US and China and the risk of a prolonged trade conflict. Any escalation could spark renewed volatility, potentially influencing Bitcoin’s next moves. Still, BTC’s resilience under such pressures bodes well for long-term investors.
Further strengthening the bullish outlook, Glassnode confirmed that Bitcoin has surpassed the realized STH price — a significant marker of market sentiment and positioning. Historically, sustained moves above this level have often preceded stronger rallies, suggesting that Bitcoin could be on the verge of further gains.
However, holding above $90,000 remains critical to preventing another downturn.
BTC Price Update: Bulls Target $100K After 25% Rally
Currently, Bitcoin is trading around $93,800 following two consecutive days of strong upward momentum, representing a 25% rally since April 9. This surge broke through key resistance levels and reignited bullish sentiment across the crypto market. After a period of consolidation and uncertainty, bulls are back in command, but sustaining this rally will be crucial.
To keep the momentum alive, Bitcoin must continue defending the $90,000 support level, now seen as a vital short-term floor. If bulls can hold this level and breach the psychological $100,000 mark, it would confirm a full trend reversal and likely attract fresh capital inflows.
On the other hand, if BTC fails to maintain $90,000, a corrective move toward the 200-day simple moving average around $88,500 could occur. Such a pullback wouldn’t necessarily derail the bullish trend but could serve to reset technical indicators before the next leg higher.
At present, bulls remain firmly in control, but with market volatility still elevated, the coming days will be critical in confirming whether Bitcoin has truly entered a sustainable recovery phase.
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