$96K Cracked: How Close Is Bitcoin (BTC) to the Six-Figure Milestone?

• Bitcoin is trading around the $95.4K range.
• BTC’s trading volume has surged by over 63%.

With a 3.56% surge, the crypto market cap has pushed to $3.24 trillion. At the same time, the broader sentiment is neutral as the Fear and Greed Index value is found at 52. The majority of the assets are charted in green, reclaiming the lost momentum. Meanwhile, Bitcoin (BTC) has mounted to former highs after a series of recovery attempts. 

The largest asset has stepped into the neutral zone as the Fear and Greed Index stays at 48. BTC ranks as a trending coin today, up more than 4.49% over the last 24 hours. In the early hours, the token traded at a low level of $91,727.76, and eventually, with the bullish encounter, the price rose to a high range of $96,011.62. 

After testing some crucial resistances, Bitcoin is trading in the $95,404 zone at the time of writing, with its daily trading volume increasing by over 63.80%, reaching the $60.02 billion mark. Besides, the market has experienced a 24-hour liquidation of $293.22 million worth of BTC, according to the Coinglass data. 

Since Bitcoin has already cleared the $94K level, the trading structure looks bullish. On the chart, the price is holding above the former resistance, which has now flipped into support. If buying pressure sustains, the next major upside target sits at $105,921, while pullbacks toward the $94K–$93K zone may act as a healthy retest.

Does Bitcoin Have More Fuel Left in This Move?

On the 4-hour technical chart of the BTC/USDT pair, a bullish pattern is visible with green candle formation. The Moving Average Convergence Divergence is above the signal line, indicating bullish momentum. The price may continue to go higher unless the MACD crosses back below the signal line. 

BTC chart (Source: TradingView)

In addition, the Chaikin Money Flow indicator has turned positive, with the value at 0.29 suggesting strong buying pressure in the Bitcoin market. Significantly, the capital is flowing decisively into the asset, which shows accumulation. As long as CMF stays above zero, the bias remains bullish.

As the Bitcoin price action is bullish, it could climb and find its key resistance range at around $95,729. With the extended gains applying more pressure on the upside, a golden cross might take place, and the bulls would likely drive the price above $96K.

Conversely, assuming the asset enters the red zone, the Bitcoin price might slip to the $95,116 support level. A sturdy correction on the downside triggers the emergence of the death cross, pushing the bears to revisit $94.8K or even lower. 

Moreover, the daily Relative Strength Index (RSI) found at 73.53 implies Bitcoin’s overbought condition. Notably, the strong bullish sentiment points to a higher chance of a short-term pullback if buyers start taking profits. BTC’s Bull Bear Power (BBP) reading of 4,421.62 signals strong bullish dominance. The price is trading above, reflecting aggressive upside momentum, though it hints at overextension and the risk of a cooldown if buying pressure eases.

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