Bitcoin Surge: BTC Reclaims $100K Amid Bullish Signs

by Ouess

Bitcoin surge momentum is back as the world’s largest cryptocurrency reclaims the $100,000 mark for the first time in months. At the time of writing, BTC is trading around $102,000, gaining nearly 4% in the past 24 hours.

On-Chain Indicators Flash Bullish for the First Time in Months

One of the most reliable signals of market sentiment—the CryptoQuant Bull-Bear Market Cycle Indicator—has finally flipped bullish. After flashing bearish since February 24, 2024, the tool now shows a positive shift.

Though the bullish coefficient is still low at 0.029, it marks the first green signal in over two months, suggesting a possible trend reversal.

More Bullish Confirmation Is Building

The 30-day moving average (Bull-Bear 30DMA) is starting to rise. Historically, when this line crosses above the 365-day average, it leads to strong parabolic growth in Bitcoin price. While the crossover hasn’t occurred yet, the upward slope is a good sign.

Further strengthening the outlook, realized price metrics by UTXO age bands reveal something rare—100% of Bitcoin holders are now in profit. This full profitability happened when BTC broke above $98,138, pulling even the last holdout group (those holding for 3–6 months) into the green.

According to Glassnode, over 3 million BTC have moved from loss to profit. This drop in underwater coins—from 5 million to 1.9 million—shows rising confidence among both short- and long-term holders.

Technical Analysis: $108K to $110K in Sight?

On the technical side, Bitcoin is now trading above the upper Bollinger Band, sitting near $102,747. This often signals short-term overbought conditions, but also reflects strong bullish momentum.

BTC Price Source ; TradingView

The lower band at $87,147 will serve as key support in case of a pullback. Meanwhile, the MACD remains firmly bullish, with the MACD line widening above the signal line.

If BTC can hold above $102,750, the next targets are $108,000 to $110,000, followed by the all-time high zone near $120,000. However, if Bitcoin fails to maintain above $100K or breaks below $94,947, it could retrace toward the $87,000–$90,000 support area.

Final Thoughts

The latest Bitcoin surge is backed by strong on-chain metrics and bullish technical indicators. With growing institutional and retail confidence, BTC might be gearing up for a new all-time high in the coming weeks.

You may also like

Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Social Media Auto Publish Powered By : XYZScripts.com
Skip to content