Bitcoin has once again surpassed the $100,000 mark, reaching an intraday high of $102,514, marking its first breakout above this psychological level since mid-December 2024.
This latest Bitcoin surge reflects strong bullish momentum and indicates a sustained upward trend with clear signs of accumulation in the $97,000–$98,000 range, as evidenced by the consolidation zone observed earlier this week.
The levels from $103,000 to $103,500 represent the nearest resistance, where selling pressure will be more noticeable.
Short-term traders may take partial profits around this level. For long-term traders, monitoring price behavior at the $103,500 level—another potential resistance level—may help determine exits.
The rise above $100,000 on Monday followed the latest purchase of BTC by Microstrategy, which now holds 447,470 BTC.
A sharp increase in volume during the breakout above $100,000 and $101,000 is quite an optimistic indicator. Traders focused on sharp growth should closely monitor confirmations of growth above $103,000, which will signal a continuation of the rise.
In the last 24 hours, short positions in Bitcoin worth $48.13 million were liquidated due to the rapid price increase of BTC, with a total of about 74,997 traders liquidated across all cryptocurrency derivatives markets.
Additionally, Bitcoin whales and institutions signal bullish sentiment as call options for $100k+ are generating significant interest and accumulating large volumes ahead of Trump's inauguration. Bets on Bitcoin options expiring at the end of March at a price of $120,000 are also gaining traction.
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