Bitcoin Surges 2% to $107,095, Bullish Sentiment Spreads

Bitcoin's price has surged to $107,095, marking a nearly 2% daily gain and sparking bullish sentiment across both derivatives and spot markets. This upward momentum has positioned Bitcoin at a critical juncture, with traders and analysts closely monitoring key resistance levels. The broader crypto market is anticipating a potential breakout, which could ignite an altcoin rally if sustained momentum above $107,000 is achieved.

The options market is providing significant signals this week, with the 25 Delta Skew, a metric measuring the demand for calls versus puts, turning heavily bullish. The 1-week skew jumped from -2.6% to +10.1%, and the 1-month skew rose from -2.2% to +4.9%. This shift indicates that traders are rapidly accumulating short-dated call options, expecting upward volatility. The divergence between rising skew and stagnant spot prices suggests that the market is anticipating an imminent breakout, which is not yet priced in. Such skew dynamics generally precede sharp directional moves, with the current bias suggesting upside. The surge in skew, especially for near-term expirations, underscores confidence in a bullish catalyst within the next few days.

Analyst Michael van de Poppe noted that Bitcoin’s price structure indicates that a larger expansion could unfold if the price sustains above the $107,000 mark. The $106.6k to $107k range remains the crucial area for momentum ignition. If the liquidity build-up around $105.5k is broken, a sweep toward $103k is likely. Successively, the spot buy zones lie in the $103k level, with further safety nets below $100k. Psychological elements like geopolitical stability, particularly in the Middle East, could boost risk-on appetite and trigger a breakout momentum. If bulls clear $107k, an upside move toward $108k could be on the horizon, which could potentially open the gates to $110.5k.

Despite the potential for a downturn, Bitcoin has shown resilience, clawing back lost ground as it passes $107,000 to start the week. This recovery has helped mitigate some of the downside risks, but the market remains volatile. Institutional activity has been noted, with heavy inflows into Bitcoin exchanges and virtually no selling from long-term holders. This suggests that institutional investors are maintaining their positions, which could provide additional support for the price. According to the analyst's forecast, the value of BTC is projected to increase by 5%, potentially reaching $106,823.00 by the end of this week. This forecast is based on the current price trends and the potential for further gains. However, it is important to note that this is a prediction and the actual price movements could vary.

Bitcoin's price has been a focal point for the broader crypto market, with the digital currency trading around $107,095 and experiencing nearly 2% daily gains. This upward momentum has sparked interest and speculation about the potential highs and lows the price could reach this week. Analysts have noted that liquidity zones below the current price could act as support levels, potentially influencing the price movements. The Bitcoin price is expected to face significant resistance, with some analysts predicting a potential crash of more than 15%. This could push the price below $90,000, potentially reaching as low as $85,000 before a bottom is established. This forecast is based on the current market conditions and the potential for a correction after the recent gains.

Bitcoin remains above its 50-day and 200-day Exponential Moving Averages (EMA), affirming bullish momentum. A breakout from $105,000 could pave the way for further gains. Key observations indicate that Bitcoin is exhibiting a “higher high, higher low” trend structure, with strong buyer interest stepping in near the $100k psychological level. Momentum indicators are showing a supportive bias, with the 4-hour Momentum (Mom) indicator sitting at +1,786. This suggests that the overall bullish trend of BTC has not changed, and a bear market has not yet been confirmed. From a larger cycle perspective, BTC is still in a bullish trend.

10x Research's analysis indicated a fundamental shift in Bitcoin's path as the asset broke the $84,500 trendline. This was corroborated by the market's positive response as Bitcoin reached a trading zone near $106,000. The firm's assessments underscore macro liquidity and ETF flows as primary catalysts, crucial for interpreting ongoing market behaviors. The analysis emphasizes Bitcoin’s central role in driving market dynamics, contrasting with secondary impacts seen in correlated tokens. Experts have noted Raoul Pal’s projections for Bitcoin potentially reaching $140,000, aligning with Markus Thielen's research. Market expectations center on macroeconomic factors and their influence on Bitcoin price movements. The ongoing analysis by key players like 10x Research highlights broader financial trends impacting strategic investment decisions.

Insights reveal the cryptocurrency's growing influence as a macroeconomic asset, driven by liquidity and institutional investment patterns. This perspective connects historical data with emerging trends, spotlighting potential trajectories amid dynamic market conditions. As Markus Thielen, CEO and Head of Research, 10x Research says, 10x Research stated that it shifted bullish on April 12–13 after Bitcoin broke above the critical $84,500 trendline. At that time, the asset had been trading under a descending resistance level, failing to surpass key price points near $92,000 and $94,213. Such comprehensive analysis positions Bitcoin as a pivotal financial instrument amidst evolving global market landscapes.