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Bitcoin has surged past the $95,000 mark, continuing its upward momentum. Analysts suggest that this rally could propel the cryptocurrency back to its previous milestone of $100,000, capturing the attention of investors worldwide.

Bitcoin Price Performance

Over the past 24 hours, Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, reached a high of $95,444. This marks its strongest close in recent months, as the last time BTC traded at this level was in mid-February. Back then, the cryptocurrency experienced a sharp correction, dipping below $80,000 at the start of the month.

As of April 30 at 12:00 UTC, BTC has stabilized at $95,104, reflecting a modest increase of 0.1% in the last trading session. Its market capitalization now stands at $1.88 trillion, while daily trading volumes have decreased by nearly 20%, falling to $22.6 billion.

Weekly and Monthly Gains

Bitcoin has been on a steady rally in recent weeks. Over the past seven days, the cryptocurrency has risen by 13.3%, while its monthly growth stands at an impressive 15.7%. This consistent performance underscores growing confidence among investors.

Economic Uncertainty Drives Demand

The ongoing rally in Bitcoin prices is largely attributed to global economic uncertainty. Weakening traditional assets like stocks and fiat currencies have prompted investors to seek alternatives. As a result, many have turned to safe-haven assets such as gold and cryptocurrencies.

Notably, gold recently hit a new all-time high of $3,390, further emphasizing the shift toward non-traditional investments. Cryptocurrency, particularly Bitcoin, has become a preferred choice for those seeking to hedge against inflation and market volatility.

Institutional Inflows Fuel the Rally

Institutional interest has also played a significant role in driving Bitcoin’s recent gains. U.S. spot Bitcoin ETFs reportedly saw $764 million in net inflows over the past week. This growing participation from institutional investors highlights the increasing acceptance of Bitcoin as a legitimate asset class.

Bitcoin Holders in Profit

On-chain data reveals that over 85% of Bitcoin holders are now in profit, according to market metrics. This represents a 10% increase compared to its previous dip, where only 75% of holders were seeing gains. Such data points to a strengthening market sentiment and increased confidence among long-term investors.

Key Levels to Watch

Analysts have identified the $98,000 level as a critical resistance point for Bitcoin. A successful breakout above this threshold could pave the way for BTC to reclaim its $100,000 milestone. Conversely, failure to sustain current levels might result in a pullback toward the $85,000–$87,000 range.

“If BTC manages to break through $98,000, it could lead to a renewed push toward $100,000. However, a decline at this stage could signal a short-term correction,” noted market analysts.

While the cryptocurrency market remains highly volatile, Bitcoin’s recent performance has reaffirmed its position as a leading digital asset. For investors, staying informed and monitoring key price levels will be crucial in navigating the market’s next moves.

Disclaimer: This article is for educational purposes only and does not constitute financial or investment advice. Always conduct thorough research before making investment decisions.

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