“Bitcoin may not rise unless it overcomes this resistance!”

According to a report published by Cointelegraph, the “Trump rally” in $BTC has ended. The analysis attributed the end of the cycle to the failure to overcome the $98,000 resistance.

According to the data, the upward cycle may not continue until the BTC price exceeds $98,000. In fact, if BTC exceeds $98,000, it may rise to $110,000.

Bitcoin fell to $94,000 during the day. Although the leading cryptocurrency tested $96,000 four times, it could not successfully break any of them. BTC, which weakens every time it tests the resistance levels, may sign a major decline if it loses $94,000.

According to crypto analyst Michael van de Poppe, the BTC price will not continue its upward momentum until it breaks the resistance point at $98,000.

The analyst said: “#BTC is patiently waiting to break $98,000 and reach $100,000. This may take some time. If we bottom, my targets will remain the same no matter what.”

Speaking before the US presidential elections, some analysts said that although BTC is experiencing an increase due to Trump’s influence, it lacks basic macroeconomic conditions.

Analysts stated that BTC needs more institutional players to reach new records. The estimate, based on its correlation with the Global Macro Investor’s Total Liquidity Index, stated that if BTC attracts institutional demand, it could reach $110,000 in early 2025.

An analyst named DonAlt emphasized that the $110,000 resistance will be targeted if $98,000 is exceeded. Stating that the possibility of a decline is also on the table, DonAlt said the following;

“BTC will probably move towards $110,000 at a close above $98,000. On the other hand, if BTC loses the $90,000 support, it could drop to $80,000.