Bitcoin Eyes $98K Resistance After Rebound from $94K Support
Bitcoin has demonstrated resilience by bouncing back from a brief correction, testing the $94,000 support level before climbing above $95,500. This recovery indicates renewed bullish momentum as traders now set their sights on the next key resistance zone at $98,000. A significant technical breakthrough occurred with the breach of a bearish trendline at $94,750 on the BTC/USD hourly chart. Data from Kraken confirms sustained trading above the 100-hour moving average, reinforcing optimism among market participants. As of June 24, 2025, Bitcoin's price action suggests growing confidence, with the cryptocurrency poised for further upside if it can maintain its current trajectory. Traders are closely monitoring these developments, anticipating a potential test of the $98,000 resistance level in the near term.
Bitcoin Price Bounces Back After Dip—Traders Eye Next Resistance Zone
Bitcoin has rebounded from a brief correction, testing the $94,000 support level before climbing back above $95,500. The recovery signals renewed bullish momentum as traders target the $98,000 resistance zone.
A key technical development was the breach of a bearish trendline at $94,750 on the BTC/USD hourly chart, with Kraken data showing sustained trading above the 100-hour moving average. Market participants now watch for a decisive break above $97,750 to confirm the next leg upward.
The cryptocurrency's resilience NEAR $94,000—where bulls aggressively defended the price floor—demonstrates strong underlying demand. This rebound follows Bitcoin's impressive rally earlier this week, underscoring its volatile yet upward-trending nature in current market conditions.
Bitcoin Price Retracement: Analyst Eyes CME Gap for Potential Upside
Bitcoin's price retreated toward $95,000 over the weekend as trading volume dwindled and positions were closed. The Chicago Mercantile Exchange (CME) futures market closed Friday at $97,022, leaving a gap as spot prices continued to drift lower on platforms like Binance.
Daan crypto Trades, a prominent analyst, notes that such CME gaps historically tend to fill within 1-3 days of reopening. Market participants are watching for a potential short-term surge as price action may gravitate toward this level.
Bitcoin Surges to $97K Amid US-China Trade Talk Speculation
Bitcoin briefly reclaimed the $97,000 level during early Asian trading hours on May 7, marking a five-day high before retreating to $96,500. The 2.3% intraday gain coincided with reports of planned US-China trade negotiations in Switzerland, suggesting macroeconomic catalysts may be outweighing Fed rate decision concerns.
Market participants noted technical resistance near the $97,650 level—a price point that previously triggered pullbacks on May 2. The latest rally added nearly $4,000 in 12 hours before profit-taking emerged, demonstrating continued volatility in the crypto asset class.
Bitcoin Faces Critical Test at $95K as Analysts Warn of Potential Correction
Bitcoin's ability to hold above $95,000 will determine whether it can retest its all-time high of $109,000 or face a deeper correction, according to analysts at Bitfinex. The cryptocurrency's current consolidation around this level serves as a pivotal moment for its near-term trajectory.
Market observers had previously flagged June as a potential month for Bitcoin to reach new highs, but the upcoming Federal Reserve decision on May 7 could introduce volatility. The $95,000 support level now acts as a make-or-break threshold for bullish momentum.
Bitcoin Tests $97,000 Amid China’s $138 Billion Stimulus and Fed’s Quantitative Easing Signals
Bitcoin surged toward $97,000 as China's central bank unleashed a 1 trillion yuan ($138 billion) liquidity injection and the Federal Reserve signaled continued accommodative policies. The People's Bank of China cut reserve requirements by 50 basis points and reduced policy rates by 10bps, Governor Pan Gongsheng announced at a State Council press conference.
The stimulus measures coincided with renewed risk appetite in global markets. Traders recalibrated positions ahead of a critical FOMC meeting, with cryptocurrency markets reacting to the dual liquidity catalysts from major economic powers.
Florida Joins Wave of States Rejecting Bitcoin Reserve Legislation
Florida has become the latest state to abandon proposals for allocating public funds to Bitcoin. Two bills that WOULD have allowed up to 10% of certain state reserves to be held in the cryptocurrency were withdrawn without a vote as the legislative session ended on May 3. The proposals joined a growing list of failed crypto reserve initiatives across the U.S.
This development follows similar rejections in seven states this year alone. Arizona, Oklahoma, South Dakota, Montana, North Dakota, Pennsylvania, and Wyoming have all shelved comparable legislation. Notably, Arizona's bill advanced further than most, clearing both legislative chambers before ultimately stalling.
The consecutive defeats highlight growing institutional skepticism about cryptocurrency as a reserve asset, despite Bitcoin's growing adoption in private markets. The trend suggests state treasuries remain cautious about volatility and regulatory uncertainty surrounding digital assets.
