Bitcoin (BTC) has continued its bullish momentum, with the latest market activity indicating a strong upward trajectory. The asset has surged by 12% over the last two weeks, fueled by significant buying demand, including a $107 million purchase of Bitcoin from exchanges. However, while Bitcoin fundamentals remain positive, market analysts are warning that key resistance levels—particularly near the $95,000 mark—could present challenges to its continued rally

Bitcoin Bullish Momentum: Key Indicators at Play

The recent surge in Bitcoin’s price has sparked optimism in the cryptocurrency market. The Bitcoin Bull Score Index, which tracks key market indicators such as price momentum and liquidity flow, has risen to 60. This level suggests that Bitcoin is in bullish territory, with a strong likelihood of continuing its upward trend in the near term.

At the same time, the Fear and Greed Index, which measures market sentiment, has remained stable at 51, indicating a balanced market with healthy buying activity. This further supports the notion that Bitcoin’s rally has room to continue as investors maintain confidence in the asset.

In addition to these indicators, the Exchange Netflow data reveals a strong demand for Bitcoin. A substantial $107.89 million worth of Bitcoin has been purchased and moved off exchanges into private wallets. This buying pressure represents nearly one-quarter of the total Bitcoin purchases made in the past week, which amounted to $461.23 million. This high level of demand could provide the necessary fuel for Bitcoin to push higher.

Key Resistance Levels at $95,000

Despite the positive market signals, Bitcoin faces several resistance zones that could impede its price growth. A recent market analysis has identified the $95,000 region as a significant hurdle. This price zone is likely to trigger selling pressure, making it a critical obstacle for Bitcoin to overcome.

The liquidation heat map, which tracks where large sell orders are clustered, shows two key levels within the $95,000 range—$95,095.50 and $95,165.19—where significant sell orders, totaling $28.45 million and $29.38 million respectively, could trigger a price decline. These levels represent major points of resistance that could slow down or reverse Bitcoin’s upward momentum if the price approaches them.

Additionally, the In and Out of Money Around Price (IOMAP) indicator, which analyzes the concentration of Bitcoin holdings around specific price levels, also points to the $95,000 range as a strong resistance zone. The IOMAP suggests that at the median level of $95,615.61, approximately 779,000 Bitcoins were traded by 1.63 million addresses. This cluster of activity creates a significant resistance level, making it more challenging for Bitcoin to break through this area.

The Fair Value Gap (FVG): A Potential Bullish Indicator

However, all hope is not lost for Bitcoin bulls. The market analysis also points to the presence of a Fair Value Gap (FVG) around the $95,000 resistance zone. An FVG occurs when the market leaves unfilled buy orders, which can often act as a magnet for the price to revisit before continuing its rally.

In Bitcoin’s case, if the asset approaches the FVG area and gathers enough buying momentum, it could overcome the resistance levels at $91,895, $96,016, and even $101,883. This would allow Bitcoin to maintain its bullish trend and continue pushing toward higher price targets.

The Importance of Market Sentiment and Liquidity

As Bitcoin continues its bullish journey, market sentiment and liquidity remain crucial factors in determining its price direction. Strong buying pressure from institutional investors, retail traders, and whales has the potential to push Bitcoin higher, especially if demand for the asset remains strong. The combination of bullish market indicators, such as the Bitcoin Bull Score Index, and continued buying activity could help propel Bitcoin through the key resistance points.

However, the presence of major sell orders at $95,000 serves as a reminder that obstacles still exist. Bitcoin’s ability to break through this region and sustain its rally will depend largely on continued demand and favorable market conditions.

Conclusion: Will Bitcoin Break Through $95K?

Bitcoin has shown remarkable strength in recent weeks, fueled by solid buying demand and bullish market sentiment. The $107 million worth of Bitcoin purchased recently is a clear signal of strong investor interest. However, analysts remain cautious, noting that key resistance levels, particularly near the $95,000 mark, could pose significant challenges to Bitcoin’s continued rally.

For Bitcoin to push past $95,000 and achieve new highs, it will need to overcome the pressure from large sell orders and resistance zones. The presence of an FVG may provide an opportunity for Bitcoin to gather the momentum needed to break through these levels. Ultimately, whether Bitcoin can sustain its upward momentum will depend on how the market responds to these obstacles in the coming weeks.

Investors will be watching closely to see if Bitcoin can maintain its bullish trend and break through the $95,000 barrier. If it does, the path to higher price targets could be wide open, but any failure to do so could result in a price pullback.