#BTC Bitcoin, the world's largest cryptocurrency, has seen a significant price increase, surging past the $96,000 mark, its highest level in two months. This upward trend is attributed to a combination of factors, including institutional interest, potential sovereign reserve discussions, and a short squeeze in derivatives markets.
*Key Support and Resistance Levels:*
- Support: $89,619.55 (Ichimoku Kijun)
- Resistance: $91,000 (key resistance zone)
*Market Sentiment:*
The overall sentiment remains cautious, with buyers attempting to regain control. A strong weekly close above $92,000 could trigger a push toward the $100,000 range ¹.
*Technical Analysis:*
Bitcoin has broken the rising trend up in the short term, indicating a stronger growth rate. The Relative Strength Index (RSI) is at 50.23, suggesting a neutral position.#BTC