🤯🚨Bitcoin's Recent Breakout Creates Excitement: Analysts Say Bullish Trend Revives at This Price and All-Time High!🚀🚀
The recent breakout in #Bitcoin prices has revived long-lost bullish momentum in the markets, and a pattern of retesting all-time highs and exceeding $100,000 is now beginning to form.
Bitcoin ($BTC ) clearly changed the perception of cryptocurrencies with its break above $95,000. The cautious price movement of the past weeks has been replaced by a renewed emphasis on potential increases and a rise in the market, with increased risk indicators.
LMAX Group market strategist Joel Kruger stated in a note that this movement has been updated and has reawakened bullish momentum. According to Kruger, the possibility of Bitcoin exceeding $100,000 and even retesting all-time highs seen in the past is now being seriously considered. This situation is not limited to Bitcoin alone. Kruger noted that there is a broad-based recovery across the crypto market, with large-volume altcoins also recording strong gains following Bitcoin. This indicates that the market is moving towards a more widespread optimism rather than a singular price spread.
Increased Volume, No Excessive Leverage
Another important point Kruger highlighted was the structure of the rally. The increase in trading volumes during the recent price movement indicated that the rise was supported by new demand. However, according to CoinGlass systems, it remained calm relative to perpetual futures funding rates. This suggests the rally was inflated by excessively leveraged and speculative positions.
According to Kruger, a weekly continuation above $95,000 or Ethereum (ETH) exceeding $3,500 could confirm a stronger upward movement in cryptocurrencies. The market is currently focused on these critical thresholds.