IS BITCOIN ABOUT TO EXPLODE ABOVE $100K SOON!

Bitcoin's price is currently hovering around $98,025, with a slight increase of 0.33%.

While some analysts predict a potential explosion above $100K, others suggest that the prevailing bullish momentum is insufficient to trigger a fresh rally toward a new all-time high.

The cryptocurrency has found strong support at the critical $90K region, highlighting the presence of buyers at this level. However, the current market environment reflects a mix of optimism and hesitation as BTC consolidates near its psychological resistance.

Key Factors to Watch:

Coinbase Premium Index: A recent increase in the index suggests renewed interest from U.S.-based buyers, which could lead to a bullish rally.

Block P/L Count Ratio Model: A decline in this metric indicates a cooling market, with investors securing profits at $90K-$100K levels.

4-Hour 200 Moving Average: Bitcoin's struggle to reclaim this critical level at $98,208 could signal further downside risks.

Ultimately, the next few days will be pivotal in determining Bitcoin's direction. A decisive reclaim of $100K would solidify its bullish outlook, while extended consolidation below this mark could test investor confidence.