The Bitcoin (BTC) price has soared past $97,000, marking a significant recovery in the cryptocurrency market after a period of stagnation. The surge reflects renewed optimism among investors, fueled by broader market recovery trends and Bitcoin’s growing resilience.
This latest rally follows a remarkable 150% price increase in 2024, positioning Bitcoin as a leading asset in the market. With bullish momentum persisting, the Bitcoin price is now eyeing further gains in 2025, solidifying its status as a top-performing cryptocurrency.
Bitcoin price climbs to $97k, signaling market rebound
According to Coinmarketcap data, Bitcoin price climbed to $97,057, showcasing a strong rebound after slipping to $93,556 in the previous 24 hours. The cryptocurrency gained approximately 3% during the period, sparking optimism for a broader market recovery.
Major altcoins also followed the bullish trend, with significant gains observed across the market. Ethereum (ETH), Solana (SOL), Binance Coin (BNB), Cardano (ADA), and Dogecoin (DOGE) recorded increases exceeding 10% in value. This momentum contributed to a 4% surge in the global crypto market cap, which now stands at $3.41 trillion.
Increased market participation could further bolster the ongoing upward trajectory of cryptocurrency prices.
Read more: 4 Promising Altcoins to Buy Now Before Year-End
Bitcoin’s recent price action indicates strong market support despite being 10.81% below its all-time high of $108,268.45, recorded on December 17, 2024. The 24-hour trading range for Bitcoin remained tight, with a high of $97,149 and a low of $93,556.
Analyst predicts BTC price surge following bullish breakout
Crypto analysts have identified a significant bullish breakout for Bitcoin price, forecasting a potential price surge. According to Javon Marks, Bitcoin (BTC) may be in the early stages of an upward move toward its previous all-time highs and beyond.
The price target set by the analyst is $113,386, representing a potential gain of over 16.8% from current levels. The breakout has fueled optimism within the crypto community, with many viewing it as a strong indicator of bullish momentum.
Another crypto analyst has forecasted a bullish move for Bitcoin, predicting its price to surge between $130,000 and $150,000. The analyst shared a chart outlining Bitcoin’s historical price action, highlighting phases from accumulation and dollar-cost averaging to a projected profit-taking zone.
Will BTC price hit $100k this week?
If the bullish momentum persists, the BTC price could soon challenge $100,000. However, surpassing $108,000 might signal an all-time high, with $120,000 as the next critical level. However if bears gain another power Bitcoin price could dip below $95k support level.
The Relative Strength Index (RSI) on the 4-hour chart stands at 64.58, indicating increasing bullish strength without being overbought. The Moving Average Convergence Divergence (MACD) shows a positive crossover. The MACD line is above the signal line, supporting upward momentum for Bitcoin’s price.
Bitcoin’s ongoing rally underscores its resilience as a market leader, inspiring optimism for further gains. While $100,000 remains a key psychological level, strong market indicators suggest bullish momentum could drive Bitcoin to new highs in the coming months.
