The market has calmed down but traders are still watching one main level which is 100000. Many believe price will test this level soon but most do not expect a strong or long breakout above it. The mood is active but careful. People are trading short moves instead of placing big long term bets.
Market prediction data shows that the most expected move is a touch of 100000 before the month ends. The chance of reaching that level is a little more than half. Expectations drop quickly above that zone. Fewer traders believe price can hold above 105000 or go much higher in the near term. This shows that the market sees 100000 as a wall not a launch point. It is a level where selling and profit taking may appear.
Fear on the downside has clearly reduced. Earlier many traders were worried about a fall to lower levels. Now the chance of a drop to 85000 has become much smaller. This tells us confidence has improved even if traders remain realistic. The market is no longer in panic mode. It is more balanced and controlled.
The recent move higher was not driven by big world news or economic change. Market makers describe it as a technical move. A large number of traders were betting on price going down. When price moved up fast those short positions were forced to close. This created a strong push higher in a short time. At the same time more money flowed into spot products which helped support the price. Liquidity was stronger on the buy side which made the move faster.
Some trading firms say the rally was more about order flow than long term belief. Price jumped because of how trades were placed not because of a new story about the future of Bitcoin. Small spikes toward 97000 showed fast reactions instead of steady buying. In this kind of market short term trades work better than holding big positions for a long time.
Ether continues to show strength compared to Bitcoin. It is holding near 3300 and demand remains healthy. Many traders are attracted to yield which helps support the price. Leverage in the system looks controlled and funding rates are stable. This suggests the move is not too risky at the moment. Ether strength also adds confidence to the wider crypto market.
During US trading hours Bitcoin moved above 97000 for a short time. That move did not last. After short positions were cleared sellers stepped in and price moved back toward 95000. This shows that resistance is still strong above. Buyers are active but sellers are ready to defend higher levels.
Outside crypto other markets were mixed. Gold and silver moved slightly lower as global fear eased. Asian stock markets were also mixed with some weakness in Japan. These moves did not have a strong effect on crypto.
Overall Bitcoin is strong but not wild. The market expects a test of 100000 but sees it as a challenge not a victory. Traders are active calm and focused on short moves in daily trading.
