Apr 26, 2025
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Bitcoin Reclaims $90,000 Amid Concerns Over Network Activity
Bitcoin has regained the $90,000 level, boosting optimism in the crypto market. Despite this surge, risks persist due to escalating global tensions, particularly between the U.S. and China, which may increase market volatility.
- Analyst Maartunn indicates that on-chain metrics reveal weak organic demand, with leverage driving the recent price increase.
- The Bitcoin network shows minimal activity, described as a "ghost town," signaling potential sustainability issues for the current rally.
- Resistance at $95,000 is critical; bulls need sustained demand to maintain momentum after breaking past $88,600.
- Geopolitical factors and macroeconomic instability are contributing to investor caution regarding risk assets.
Price Action Overview
Currently trading at $93,600, Bitcoin is consolidating around this level while preparing for a possible breakout toward $95,000. A successful move past this resistance could set the stage for reaching $100,000.
- Maintaining support above $90,000 is essential for bullish momentum.
- A decline below this mark could lead to a drop towards the 200-day moving average near $88,000.
- Market participants are closely monitoring these levels to gauge future price movements.
