Key Insights:
- Bitcoin holds strong above the $95,000 support level while maintaining an 8 percent weekly gain.
- Matrixport identifies $94,293 as the critical resistance that Bitcoin must break to target $106,000.
- Bitcoin ETF inflows led by BlackRock and rising active addresses boost confidence in the ongoing Bitcoin rally.
Bitcoin (BTC) maintained strong momentum this week, keeping support above $95,000 while showing bullish signals across key metrics.
Last week, Bitcoin achieved near 8% appreciation, which transformed into 14% growth over the past month.
Although volatility remains present, Bitcoin’s steady growth has kept the broader digital asset market in positive territory.
Market participants are now eyeing a possible breakthrough, with Bitcoin approaching a crucial resistance that could determine its next move.
Matrixport’s latest report identified $94,293 as the resistance that Bitcoin must clear for a major upward move.
A combination of enhanced network activity and rising BTC ETF investments establishes strong reasons for price growth if Bitcoin surpasses $94,293.
The outlook for Bitcoin remains positive, with on-chain metrics and favorable macroeconomic factors suggesting more upside potential in the near term.
The price must produce a definite breakout above major technological thresholds before maintaining its upward movement.
Analysts agree that a move beyond the identified resistance could push Bitcoin toward $106,000.
Bitcoin Holds $95K Support but Faces Critical Test Ahead
Bitcoin extended its bullish trend through Tuesday, recording weekly gains while holding steady above the $95,000 support level.
The market maintained volatile movements, keeping the price between $93,498 and $95,598 throughout 24 hours.
Despite the swings, Bitcoin’s broader trend remains upward, supported by solid market activity.
Matrixport’s report spotlighted $94,293 as the next major resistance that Bitcoin must overcome for further price appreciation.
The firm highlighted that Bitcoin previously broke a long-term downtrend near $85,712, triggering its latest rally.
Since the previous record-breaking moment, Bitcoin prices have kept increasing steadily but must now clear the present levels for further advancement.
Matrixport predicts that $106,000 could become reachable when Bitcoin prices remain above $94,293 with stability.
Besides these factors, additional market conditions must match up to drive price expansion above $94,293.
Strength in US equities and stablecoin inflows rank as key requirements. Market dynamics remain fluid, but positive conditions could efficiently fuel the next stage of Bitcoin’s growth.
Bitcoin ETF Inflows Strengthen Market Structure
Recent trends in Bitcoin ETF activity have significantly improved Bitcoin’s market structure, helping to reinforce bullish momentum in recent sessions.
Matrixport underlined that inflows into US spot Bitcoin ETFs, led by BlackRock’s fund, positively impact sentiment.
These capital movements are strengthening the foundation for Bitcoin’s potential rally.
Meanwhile, IntoTheBlock data showed active Bitcoin addresses surged past 800,000 in a day, marking strong network engagement.
The current address activity demonstrates increased user engagement, which has not reached historical peaks.
The rise of wallet usage typically predicts stronger market competition and drives substantial price fluctuations.
Last week, Bitcoin and Ethereum also led total digital asset inflows, amounting to $3.4 Billion globally.
The changing marketplace continues to fuel greater interest in digital assets because market conditions show sustained improvements.
With ETF momentum and robust network activity, the market environment appears favorable for further Bitcoin gains.
Carl Moon Predicts Bitcoin Reaching 104000
According to popular crypto analyst Carl Moon, Bitcoin would hit $104,000 as it breaks through $95,000 strongly.
The analyst noted that Bitcoin has formed a bullish chart pattern, which indicates upcoming market growth should the resistance level fail.
According to both analysts Carl Moon and Matrixport, the $ 94 K-$95 K range holds crucial importance.
Analysis from Carl Moon indicates that the current market stabilization may signal an increase toward an even higher price level.
Intense buying pressure around price support zones has doubled bullish predictions and expectations for a price breakout.
Market analysts follow Bitcoin closely while approaching essential technical limits because they expect a major price movement.
