Bitcoin eyes $100K—Could it be closer than we expect?

• BTC climbed 11.75% over the past week, reflecting strong bullish momentum.
• Bitcoin maintained strong upward momentum; however, flipping $96,000 remained crucial for a potential rally.

Over the past week, Bitcoin [BTC] has experienced sustained gains, rising from a local low of $83k to a high of $95k.

In fact, at press time, Bitcoin traded at $94,061, climbing 11.75% on weekly charts. The recent price pump reflects strengthening upward momentum for the crypto.

Looking at Bitcoin’s MACD, it has surged from 137 to a YTD high of 2814. An uptick in MACD indicates strong bullish momentum in the market, with significant price movement to the upside.

Usually, higher levels signal a continuation of the existing trend.

Therefore, it implies that the current uptrend is likely to continue if the demand also rises or remains constant. Significantly, the market is experiencing considerable demand, with buyers highly active in the market.

With a strong upward momentum while buyers are dominant players, it positions BTC for more gains on its price charts.

What do Bitcoin charts suggest?

According to AMBCrypto’s analysis, Bitcoin is experiencing strong upward momentum. The prevailing market conditions position the crypto for more gains.

For starters, Bitcoin is experiencing sustained bullish sentiments from all market participants. As such, these bullish participants are taking strategic positions in the market.

We can see this market bullishness in multiple ways.

Firstly, Bitcoin’s Fund Market Premium has turned positive to settle at 0.2.

A positive Fund Premium suggests that investors, especially institutional ones, are experiencing enthusiasm and FOMO. Thus, there’s significant demand for Bitcoin across the market, including in traditional finance.

Additionally, other market players are also bullish, as Bitcoin’s Fund Flow Ratio has declined to hit a low of $0.078.

This decline suggested increased holding behavior, as investors preferred moving BTC into cold storage and private wallets — a classic sign of long-term conviction.

What’s next?

Bitcoin continues to attract strong demand, with investors entering at key, strategic levels.

If current momentum holds and demand remains robust, BTC could be positioned for a significant upward move.

The next crucial target is $96,000, a level of importance as it represents the entry price for short-term holders who have held Bitcoin for three to six months.

Flipping $96,000 into support would likely pave the way for a rally beyond $100,000.

However, profit-taking by holders of recent gains, particularly those holding BTC for one to three months, might cause the price to consolidate between $88,000 and $94,000.

Thus, reclaiming and converting the $96,000 mark into support remains vital for Bitcoin’s next upward trajectory.