Key Insights :
- Bitcoin rebounds from $78K, volatility grows while testing the $95K resistance level and carries a steadily increasing buy-side pressure.
- While the price was at $90K, early Bitcoin miners cashed in $18.57 million as a sign of a potential short-term bear phase.
- Bitcoin’s trading volume was up 15 % at $35.88B, and a market cap of $ 1.87T, suggesting that $100K is feasible.
Bitcoin price continues to capture attention after a sharp rally that brought its price close to a key resistance zone. As trading activity rises and miners earn millions, market players pay particular attention to the further movements of the industry.
The cryptocurrency market remains active, with BTC hovering near $95K. This level is critical in determining whether the trend continues bullish or faces another wave of selling.
Bitcoin Price Approaches Key Resistance at $95,000
At press time, Bitcoin price was trading around $94,922 on Binance after rising by 1.06% for the day. The price rose from a low of around $78,000. It has approached and challenged the “Yearly Open” resistance at around $95,000.
In the past, this level served well as support before turning into a resistance level. This makes such an area crucial for traders.
BTC has broken out of its descending trend channel on the daily time frame. Following this breakout, it has surpassed key Fibonacci levels, signaling strong upward momentum.
The blistering above the 61.8% retracement level confirms the movement on the side of the current trend. If Bitcoin price closes above $95,000 consistently, the chances of reaching $106,000 grow stronger. This level serves as a key resistance point for further price movement.
However, if the BTC remains below $95,000, there could be a reversal to the $90,000 to $88,000 area. This would not be a sign of a reversal of the bull run but rather a pull-back at some point within the bull trend. A daily bar close should be observed to affirm this setup.
Early Miners Secure Profits Amid Price Surges
Recent data shows that early Bitcoin miners realized about $18.575 million in profits as of April 22, 2025. This realization coincided with the sharp rally of Bitcoin price above $90,000.
Before this surge, realized profits were flat despite fluctuations between $74,000 and $86,000 during late March and early April. The increase in realized profits indicates that some miners are willing to lock in profits at higher prices.
Past trends indicate that miner sales often lead to short-term selling pressure. Typically, this pressure intensifies when miners become more active in the market. Bitcoin miners witnessed more than $18.57 million in profit as prices crossed $93,000.
While miners securing profits could introduce supply pressure, the overall market structure remains bullish. So far, increased buying activity has absorbed the selling, keeping the uptrend intact.
Traders should watch miner behavior closely, as sustained selling could trigger temporary volatility around current levels.
Trading Volume Jumps as Market Momentum Builds
Bitcoin’s 24-hour trading volume rose by more than 15%, reaching around $35.88 billion, according to CoinMarketCap data. BTC’s market capitalization now stands at $1.87 trillion, representing a rise of about 0.83%.
The fully diluted valuation (FDV) was near $1.98 trillion. This suggests that supply inflation risks are low, with 19.85 million BTC already mined.
The emerging increase in volume is usually one of the bullish factors that can be used to forecast the strength of the price. Having risen to $95,000, BTC fell marginally to hover around $94,400 in a volatile sideways movement.
The Relative Strength Index on the daily chart reads more than 69.11 now, which is in the overbought range. This could be interpreted as a sign of bearish exhaustion.
However, the structure remains bullish unless Bitcoin sustains a breakout below key support level. This level appears to be tested by traders as they anticipate another try to retest $95,500 if the trend persists.
Can Bitcoin Price Break Above $100,000 Soon?
Bitcoin’s chart suggests that bulls remain in control if the price stays above breakout levels. This technical setup indicates potential for further upward movement.
If BTC prints a successful breakdown at $95,000, the target Cluster 1 will be $102K. Apart from that, the resistance level of Cluster 2 is reflected at $110,000.
Over the next few weeks, Bitcoin price could surpass the $100K mark if trading volume continues to rise. Minimal selling pressure would further support this upward momentum.
However, traders should still be careful of sharp retrenchments, particularly where selling pressure from miners is sustained.
Bitcoin’s long-term supply dynamics remain favorable, with nearly 94% of its total supply already mined. This scarcity factor continues to underpin bullish expectations.
Yet, the immediate focus remains whether BTC can turn the $95,000 level into solid support before advancing higher.