Bitcoin Smashes Through $95K—$103K Target Now in Play

BTC’s bull run defies gravity—and Wall Street’s skepticism—as it barrels toward six figures. Here’s what’s fueling the frenzy.

Technical breakout: Bitcoin cleaves through resistance levels like a hot knife through institutional FUD. Traders now eye the $103K historical liquidity zone.

Market irony: The same finance bros who dismissed crypto in 2022 now scramble to ’hedge against inflation’ with digital gold. How the turntables.

$103K on the Cards

Analyst Titan of Crypto ignited the bullish case, claiming a “bull flag” breakout is underway, and predicting a short-term move to $103,000 in a post on X.

The asset’s recent price movement coincided with substantial accumulation by large investors. According to Santiment, wallets holding between 10 and 10,000 BTC have been aggressively adding to their positions, with Bitcoin advocate Kyle Chassé calling it “THE STRONGEST SIGNAL IN THE GAME!!!”

Santiment also revealed that market sentiment has reached its most greed-dominated level since November 2024, when the flagship cryptocurrency last peaked before correcting 13%.

The analytics platform suggested whales were ready to mop up any BTC offloaded by profit-seeking retail traders in this period, potentially giving the asset a leg up past $100,000:

“If they sell here because they think we are seeing a top, whales would likely scoop up those coins and potentially push Bitcoin above $100K in the next 1-2 weeks.”

Some prominent market watchers have also highlighted key technical developments, including Daan Crypto Trades, who observed Bitcoin’s resilience at key Fibonacci levels. “$BTC Strong bounce and continuation from the .382 Fibonacci Retracement level,” he stated, expressing his fondness for “higher timeframe trends.”

Bull Cycle Incoming?

Adding to the narrative, Michaël van de Poppe suggested the market might be entering a major bull cycle. He cited a chart by TechDev_52 showing that BTC has been in its longest bear run, lasting four years, and implied a reverse cycle was imminent. “We’re about to start the biggest bull cycle ever,” the crypto investor wrote.

However, the Santiment team offered a more cautious perspective, noting that excessive crowd greed might lead to a local top formation, while more measured behavior could allow BTC to maintain its divergence from traditional markets like the S&P 500.

With its dominance holding at 61.2% and institutional interest remaining strong, the cryptocurrency’s next move could set the tone for the rest of the digital asset market in the next week.