Bitcoin Surges Past $100,000 Amid Bullish Market Signals

Bitcoin has reclaimed the $100,000 level, trading at approximately $102,000, marking a nearly 4% increase in the last 24 hours.

The CryptoQuant Bull-Bear Market Cycle Indicator has flashed its first bullish signal since February 2024.
The coefficient of the bullish signal is weak at 0.029 but indicates a potential momentum shift.
The Bull-Bear 30DMA is curving upward, historically signaling parabolic price growth when it crosses above the Bull-Bear 365DMA.
All Bitcoin holders are now in profit, with over 3 million BTC returning to profitability, reducing underwater positions from 5 million to 1.9 million.
Technical analysis shows Bitcoin has broken above the upper Bollinger Band, currently around $102,747, indicating strong momentum but potential short-term pullbacks.
If Bitcoin maintains above $102,750, target prices are set at $108,000-$110,000 and potentially reaching near $120,000; breaking below $94,947 could lead to corrections toward $87,000-$90,000 support.

CryptoQuant’s Bull-Bear Market Cycle Indicator | Source: CryptoQuant

BTC 1D Chart | Source: TradingView