Bitcoin surges past $97k as bulls build momentum

Bitcoin exceeded the bar of $ 97,000 on Wednesday, climbing a summit of $ 97,546 before backing up slightly, while traders continue to test the keys to resistance levels.

This decision was made after days of tight action between $ 93,000 and $ 96,000, total market capitalization reaching $ 1.90 Billion of dollars and a 24 -hour negotiation volume reaching 29.88 billion dollars, according to recent Crypto.News.

The rally is based on the momentum that started in mid-April, when Bitcoin (BTC) Decisively broke out of a long -standing consolidation phase nearly $ 74,400. Technical indicators suggest continuous increase pressure, with major support now established in the $ 88,000 at $ 90,000.

A decrease to $ 92,000 could offer a new entry point for long positions if it is supported by a renewed volume, while a drop of less than $ 88,000 could report wider correction risks.

Does Bitcoin grow?

This climb is Almost 30% From its lowest April, investors adopted more risky assets. The rally gained momentum after the cryptocurrency avoided a model of death of death in April, with bullish technical signals such as a double background and an escape from bull flag suggesting more upwards.

Institutional interests have also increased, with Bitcoin Spot ETF recording 2.9 billion dollars in entries last month and companies like Tether, Flexible bankAnd Trump Media adding Bitcoin to their treasury bills.

At the same time, disappointing American economic data, including low employment growth and the decline in consumer confidence, has fueled the expectations of a drop in rates by the federal reserve. These developments, as well as the possibility of a pivot on the commercial policy of Donald Trump, helped to renew optimism in the Bitcoin path.