Bitcoin’s price has been a rollercoaster lately. While it hasn’t quite hit $100,000 yet, it’s holding steady above $96,000 after a recent market dip.
The Recent Dip and Recovery
A quick crash affected mainly altcoins over a weekend, causing a lot of volatility. Bitcoin dropped over 9% in a day, but then bounced back over 11%, showing it’s stronger than other cryptocurrencies.
Institutional Interest is Key
Despite the ups and downs, experts see positive signs. Analyst Axel Adler points to the Bitcoin Coinbase Flow Pulse as a key indicator. This metric tracks how much Bitcoin is flowing into and out of Coinbase, giving a good idea of what big investors are doing.
What the Pulse is Saying
The Pulse shows strong institutional interest. There aren’t the usual large outflows (selling) you’d see in a bear market. This suggests big players are buying and holding, not selling.
The $100,000 Question
Bitcoin is currently consolidating, trading between strong support around $90,000 and resistance near its all-time high. Trade war worries are adding to the uncertainty.
Breaking Through or Breaking Down?
If Bitcoin can break above $100,000 and stay there, it could signal a continued bull run. However, falling below $96,000 could lead to more selling and a deeper correction. The next few days will be critical in determining which way the price goes. A drop below $96,000 could send it down towards $92,000-$94,000. Conversely, a strong move above $100,000 could push it towards its all-time high. The market is watching closely to see if Bitcoin can break through the resistance or if another downturn is coming.
