Bitcoin Holds Above $93,000, Bullish Momentum Intact

Bitcoin's bullish momentum has been bolstered by its ability to maintain structural support levels, despite recent market volatility. The cryptocurrency has been trading within a range of $100,000 to $110,000, with a notable rebound from weekend lows. This price action suggests that the broader bullish trend remains intact, as long as Bitcoin holds above the critical support zone of $93,000 to $100,000. This zone has seen concentrated accumulation, as indicated by Q1 2025 heatmap data, which supports the idea that the current price levels are well-defended by market participants.

Throughout Q1, heavy accumulation clustered between $93,000 and $100,000. That forms a foundation where large holders gather BTC, offering a price cushion. When price tests this zone and holds, it confirms demand outweighs supply—a hallmark of healthy, bullish structure. Remaining above the $93,000–$100,000 band means the broader trend is still intact. If BTC dips below, it could trigger deeper corrections or signal a structural shift. As long as it trades above, traders view any pullback as a potential buy opportunity rather than a sell signal.

Short-term price swings are inevitable—news events, liquidations, and sentiment shifts can trigger rapid moves. But volatility within or just above the $93,000–$100,000 region isn’t alarming. Instead, it’s viewed as structural tests, not breakdowns. Bulls watch how BTC reacts inside that band to gauge continuing momentum. The recent price swing, which saw Bitcoin briefly fall to $98,000 due to geopolitical tensions, was quickly reversed following news of de-escalation. This resilience highlights the underlying strength of the bullish narrative, as the cryptocurrency has returned to its familiar trading range. The $108,000 level has emerged as a key support point, with analysts suggesting that if this level holds, the next rational target for Bitcoin could be close to $113,000. This optimistic outlook is further supported by the strengthening control of bulls in the daily price structure, despite cautious buyer volume.

The bullish reversal on the daily chart indicates that market participants are increasingly confident in Bitcoin's ability to maintain its upward trajectory. This sentiment is reinforced by the decline in realized profits and transfer volumes, which signals market fatigue and a potential shift in market dynamics. The broader economic environment also plays a role in Bitcoin's bullish case. The slide in the dollar index and the record highs achieved by Nvidia amid recession cues have created a favorable backdrop for risk assets, including Bitcoin. This macroeconomic context supports the idea that Bitcoin's bull case is strengthening, as investors seek alternative stores of value in an uncertain economic landscape. The potential for a sharp upward move, with Bitcoin poised to reach $120,000, further underscores the bullish sentiment surrounding the cryptocurrency. This optimistic outlook is based on Bitcoin's successful reclamation of its 50-day moving average, which has historically marked the beginning of new bull legs.

Bitcoin’s structural strength hinges on the $93,000–$100,000 range, born from Q1 accumulation. Staying above that band signals intact bullish momentum. While short-term volatility may rattle markets, as long as BTC defends this zone, the optimistic outlook remains credible.