Bitcoin Bulls Charge Back: Is This the Start of the Next Rally?

After months of sideways action, Bitcoin’s confidence meter just flipped to greedy. Traders are piling in—but can this optimism actually move the needle?

The psychology shift: Fear-and-greed indicators show the strongest bullish sentiment since BTC’s last ATH. Open interest in derivatives markets spiked 40% in a week. Even Wall Street’s crypto skeptics are quietly reallocating (probably while shorting it behind closed doors).

Make-or-break levels: Watch the $65K resistance like a hawk. Break through, and we’re likely testing $70K before June. Stall here? Prepare for another ’macro uncertainty’ narrative from the usual suspects.

One thing’s certain: The ’digital gold’ crowd won’t shut up about this. Whether that translates to gains? Ask the leverage traders currently liquidating each other by the minute.

Rising engagement reflects growing interest in Bitcoin

On top of that, Bitcoin’s Social Dominance stood at 25.81%, reflecting a significant increase in market attention.

Social Volume has surged steadily, showing more participants are discussing Bitcoin. As BTC gains more social attention, investor sentiment could continue to grow.

Increased chatter around BTC often precedes price moves. In fact, heightened social interest may attract fresh capital if the trend holds.

Source: Santiment

Bitcoin’s NVT ratio stood at 460.14, indicating that its price is undervalued compared to transaction volume. A high NVT ratio shows the market value has yet to catch up with on-chain activity.

This imbalance suggests BTC may rise as the market adjusts to increased activity. With strong transaction flow, Bitcoin is likely to maintain its bullish trend if the momentum continues.

Strong bullish trend despite recent market corrections

Bitcoin’s Price DAA Divergence chart shows a -217.59% divergence, indicating that price increases outpace Daily Active Addresses (DAA).

Despite short-term price corrections, active market participation remains strong, supporting BTC’s bullish outlook.

The continued divergence suggests that there is strong demand for BTC, even amid market fluctuations.

Active Addresses have not slowed down, reinforcing the idea that the bullish trend will likely continue, even if market corrections happen.

Source: Santiment

The Binance BTC/USDT Liquidation Heatmap shows that long liquidations dominate NEAR the $94K level. This suggests that BTC faces potential downward pressure as long positions are liquidated.

The dominance of long liquidations increases the risk of short-term volatility. However, if short positions start to get liquidated, Bitcoin could see a sharp upward move.

Can BTC maintain momentum above $94K?

Bitcoin is testing key resistance levels near $95,709 and $98,666, with current price action showing signs of potential for further upward movement.

BTC currently trades close to its upper Bollinger Band — a position that often precedes breakouts when pressure builds.

Moreover, the MACD remained bullish. With the MACD line at 2,965.81 above the signal line at 2,289.86, momentum clearly favored buyers.

Source: TradingView

Bitcoin’s Realized Capitalization at $882.228 billion, along with Social Dominance at 25.81%, indicates strong market confidence and interest.

The NVT ratio of 460.14 supports the idea that BTC is undervalued relative to its on-chain activity, suggesting the potential for price growth. 

While long liquidations remain a risk, the MACD momentum and proximity to resistance levels suggest BTC may soon breach $95,709 — and possibly aim for $98,666.