Bitcoin Bulls Eye Summer Rally—If $90K Floor Holds
Crypto traders are holding their breath as Bitcoin flirts with the $90K support level. A clean bounce here could trigger the next leg up—just in time for the illiquid summer months when Wall Street ’takes vacations’ but leaves their algo-traders running.
Key levels to watch: A sustained break above $95K opens the path to six figures, while a drop below $88K risks flushing out overleveraged longs. Meanwhile, gold bugs sob into their physical bars.
Remember: In crypto, ’support’ is just resistance that hasn’t failed yet.
Adding to the optimism, on-chain metrics also signal strength. The Cumulative Value Days Destroyed (CVDD) indicator—often used to identify market cycle extremes—indicates that BTC remains in an accumulation phase. Analyst Ali Martinez believes this could fuel a MOVE toward $120K, provided the asset maintains support above $90K.
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Bitcoin’s recent consolidation has followed a sharp rally driven by ETF inflows and margin liquidations, fueling speculation that a continuation pattern is forming. If confirmed, BTC could be on track for a significant breakout in the coming weeks.
