Bitcoin is trading above crucial demand levels after a week of tight consolidation between $92,000 and $98,000. Bulls remain in control of the broader trend and are now flirting with a potential breakout above the psychological $100,000 level. However, the coming week is shaping up to be highly volatile for crypto markets, as global tensions and macroeconomic uncertainty continue to mount.
Ongoing trade conflicts between the United States and China are putting pressure on global risk assets, while political turmoil intensifies at home. US President Donald Trump’s public clashes with the Federal Reserve—urging the central bank to cut interest rates more aggressively—have added another layer of unpredictability to financial markets. These factors are shaping investor sentiment across equities, bonds, and crypto.
On-chain data from CryptoQuant shows that Bitcoin is currently flirting with the Short-Term Holder Cost Basis from above—a historically important level that often serves as support during bullish phases. If Bitcoin successfully holds this zone, it could act as a springboard for further upside.
With bulls defending key ground and macro factors driving uncertainty, all eyes are on Bitcoin as it navigates one of the most critical weeks of Q2. A breakout or breakdown could define the coming months.
Bitcoin Faces Critical Price Range As Bulls Aim for Breakout
Bitcoin is currently trading within a pivotal range, with $90,000 acting as critical support and $100,000 looming as the key resistance to break. A drop below $90K could trigger bearish momentum and increase the risk of a deeper correction, while a clean breakout above $100K would likely ignite a massive uptrend across the broader crypto market.
After months of intense selling pressure from all-time highs, Bitcoin is once again pushing with strength, attempting to solidify a bullish setup. Since breaking above $90K with conviction, bulls have maintained control of the trend, driving a steady rebound and building momentum toward six-figure territory. Still, macroeconomic headwinds and geopolitical risks continue to create a fragile environment for risk assets.
Trade conflicts between the US and China, coupled with President Trump’s ongoing feud with the Federal Reserve over interest rate cuts, are amplifying volatility. These developments have created a complex backdrop that keeps markets on edge despite Bitcoin’s technical progress.
Top analyst Maartunn shared insights on X, pointing out that Bitcoin is currently flirting with the Short-Term Holder (STH) Cost Basis from above. The STH Realized Price, currently at $93,364, is a key on-chain level often used to measure market sentiment. Holding above this level suggests that short-term holders are in profit and reinforces the bullish narrative.
If Bitcoin can successfully defend this zone and push above $100K, it would likely confirm a broader shift in market structure and potentially trigger a new wave of inflows. For now, all eyes remain on whether bulls can maintain momentum in the face of ongoing uncertainty, or if another rejection will lead to a deeper pullback.
BTC Consolidates: Facing Resistance Below $100K
Bitcoin (BTC) is trading around $94,000 following a week of consolidation just below the $98,000 resistance. The daily chart reveals a strong rebound from the $80,000 zone in April, leading to a clean breakout above both the 200-day simple moving average (SMA) at $90,410 and the 200-day exponential moving average (EMA) at $86,296—confirming bullish momentum.
However, the price has pulled back slightly after testing the upper range, and the current structure suggests a possible retest of support near $92,000. Holding this level would maintain the bullish setup and potentially fuel another attempt to break the key psychological barrier at $100,000. A failure to do so, however, could open the door to a deeper correction.
Volume remains elevated compared to previous consolidation periods, indicating strong market participation. The bullish trend remains intact as long as BTC stays above the 200-day averages, but a drop below $90,000 could shift sentiment and invite renewed selling pressure.
Featured image from Dall-E, chart from TradingView
