Bitcoin recently surpassed the $100,000 mark, marking its latest all-time high at $103,600 following an 8% daily increase. This accomplishment was quickly followed by a substantial correction, with Bitcoin retracing to $98,000 and briefly dipping to the $90,000 support zone, triggering significant market liquidations.
Crypto analyst Ali Martinez notes the significance of the $96,870 support level for Bitcoin, where many buyers have purchased BTC. If this demand zone holds, further upward momentum is expected, potentially leading to a new peak of $112,926 as per Martinez’s analysis.
Analyst Jelle remains optimistic, suggesting Bitcoin could mimic 2017's rally pattern. He predicts a potential breakout by Christmas, pushing BTC past $100,000 again and possibly further, reminiscent of the massive rally in late 2017.
Jelle speculates that Bitcoin could eventually target the $130,000 level after successfully retesting bullish formations. As of now, Bitcoin trades at $101,050, reflecting a steady weekly rise.
