Bitcoin Breakout Beckons as Recovery Gains Momentum
Bitcoin’s recovery trend is gaining significant strength, recently reaching $96,500. Market analysts believe that if the cryptocurrency surpasses the $100,000 mark, it could trigger a new upward wave, according to a report by ABC Crypto.
The report highlights that open interest has increased without excessive risk exposure, signaling renewed investor participation. Additionally, the funding rate remains balanced, indicating the presence of ongoing bidirectional market pressure.
Data from various cryptocurrency analysis platforms show that Bitcoin reserves across exchanges have declined by 0.67%, suggesting a reduction in selling pressure. At the same time, a net outflow of -4.33K Bitcoin reflects a positive market sentiment.
User activity on the Bitcoin network has also surged, with daily active addresses reaching 924,000—one of the highest figures this year. This rise points to more than just speculative trading; it indicates genuine growth in transactional use.
Altogether, Bitcoin appears to be in a healthy and balanced state, potentially setting the stage for a significant breakout toward the $100,000 milestone.
