Bitcoin rises to $100,000 resistance
Friday’s Bitcoin The surge took it above the $97,000 mark at one point. Over the past two weeks, Bitcoin has been gradually approaching the key $100,000 resistance level, which has proven difficult to break. Bitcoin was trading at $96,777, up 1.5% as of 11:49am IST. Its intraday high was $97,739, showing strong momentum.
Source: CoinMarketCap
Altcoins and Ethereum also rise
Up 1.6% to $3,452 Ethereum In line with Bitcoin’s upward trend. Other major altcoins also saw significant growth. Ripple an increase of 3.6%; Solana Up 2.7%; Cardano surged 11.5%; Stellar rose 9%. These price swings helped the global cryptocurrency market cap rise broadly by 1.5% to $3.41 trillion.
According to the Fear-Greed Index, investor attitudes have changed positively. Bitcoin’s trading levels near $97,000 reflect this growing hope. Mudrex CEO Edul Patel claimed that while support existed for Bitcoin at $95,000, there was immediate opposition at $98,400. Finding the future direction of Bitcoin will largely depend on this range.
Source: CoinMarketCap
BuyUcoin CEO Shivam Thakral highlighted institutional interest in Bitcoin’s recent rally. He noted that an important milestone in the growing popularity of U.S. spot Bitcoin ETFs is approaching. The cumulative value of these ETFs leaves only $2.2 billion to reach $110 billion. This statistic represents over 5.7% of the total Bitcoin supply, highlighting the growing confidence of institutional investors.
Trading activity in the market still mainly revolves around stablecoins. The total trading volume of stablecoins in the past 24 hours was $108.1 billion, accounting for 92% of the 24-hour cryptocurrency trading volume. This trend underscores how dependent the entire market is on stablecoin liquidity.
Bitcoin dominance and market capitalization gained
Within 24 hours, Bitcoin’s market value rose to $1.913 trillion. With a rise of 56.22%, the dominance of cryptocurrencies in the market has also changed. Trading activity has been strong; Bitcoin’s 24-hour trading volume jumped 41.6% to $41.3 billion.
Bitcoin price reached $100,000, almost at a critical level that could determine its future direction. Increased ETF acceptance and institutional curiosity help inspire investor confidence. The strong performance of altcoins also adds to the generally favorable attitude in the market. However, the coming days will largely depend on resistance levels and market conditions.
