Bitcoin Hits Make-or-Break Wall as Bulls Charge Toward All-Time High
BTC’s rally slams into a stubborn resistance level—the last major hurdle before challenging its historic peak. Traders are watching the order books like hawks, while skeptics mutter about ’irrational exuberance’ (again).
Key pressure points: Liquidity thins out near $70K as institutional players play chicken with retail FOMO. Meanwhile, crypto Twitter oscillates between ’to the moon’ and ’imminent collapse’—because nuance is for traditional finance dinosaurs.
The breakout playbook: If Bitcoin punches through this zone, the ATH retest becomes inevitable. Fail? Cue the leveraged long liquidations and another round of ’I told you so’ from Wall Street boomers clutching their 5% yield bonds.
Technical Analysis
By Shayan
The Daily Chart
Bitcoin has recently notched a strong bullish signal, staging a major market shift driven by substantial buying pressure. This rally has propelled the price above a critical resistance zone, reclaiming both the 100 and 200-day moving averages at $90K — a key indication of buyers’ dominance.
Currently, BTC is approaching the psychological $100K threshold, a major resistance likely filled with significant supply. As a result, a temporary consolidation around this level is expected before any potential breakout occurs. A decisive move above $100K would likely pave the way toward retesting the all-time high (ATH).
The 4-Hour Chart
On the lower timeframe, Bitcoin confirmed its bullish momentum after breaking above the descending channel’s upper boundary at $84K. This breakout triggered an impulsive surge, pushing the price past the critical $90K resistance level, highlighting strong buyer commitment.
Now, the asset is nearing the crucial $100K psychological resistance, which also aligns with a major previous swing high. If buyers succeed in breaching this barrier, the road to Bitcoin’s ATH could reopen. Conversely, failure to break above may lead to a short-term consolidation below $100K before the next significant move.
On-chain Analysis
By Shayan
After Bitcoin completed its corrections and initiated recoveries in October 2023 and September 2024, Binance Futures funding rates notably turned deeply negative during the early stages of each rally. This recurring pattern highlights a persistent lack of investor confidence during sharp declines or prolonged consolidations.
In contrast, during strong Bitcoin rallies, FOMO-driven traders aggressively deployed leverage to open long positions, causing funding rates to spike sharply. This often signaled overheated conditions and triggered subsequent corrective pullbacks.
Currently, Bitcoin has surged more than 28% off its recent low. Following this rally, the funding rates have, with a delay, experienced a significant upward shift, signaling a renewed influx of Leveraged long positioning.
Considering the historical behavior during the previous two major recoveries, current sentiment dynamics, and price structure strongly suggest that Bitcoin is well-positioned to break through its previous all-time highs in the NEAR term.
