At a Glance
- Bitcoin rallied above $94K after 54 days of sideways trading
- Price touched $96.8K, its highest level in two months
- Next resistance zone sits at $105K-$106K
- Why it matters: The breakout signals renewed institutional interest and could set the stage for a retest of all-time highs
Bitcoin has snapped a seven-week consolidation phase, punching through the $94,000 barrier and reaching $96,800 in its biggest single-day move since early December. The breakout, confirmed by heavy spot buying, has traders eyeing the $105,000-$106,000 range as the next major hurdle.
54-Day Range Finally Breaks
Market analyst Crypto Patel flagged the move on social media, noting that BTC had been stuck under $94,000 since late November. Once that level gave way, bids accelerated and lifted the largest cryptocurrency to a two-month high of $96,800. At press time, Bitcoin changes hands near $95,000, up more than 3% in the past 34 hours.
The $94,000 zone has now flipped from resistance to support. Patel’s chart shows the next cluster of sell orders waiting between $105,000 and $106,000, a region that capped rallies during last year’s push toward record highs.
Big Buyers Return on Policy Clarity
Data tracked by CryptosRus shows a clear shift in order-flow dynamics:
- Mid-to-large spot orders dominate flow
- Small retail-size bids remain scarce
- Buying started near $90,000 and accelerated on the break
The renewed appetite coincides with progress on US digital-asset regulation. As the policy outline becomes clearer, so-called “smart money” is building positions ahead of an expected wave of retail interest. The current move, analysts say, is being driven by long-term allocators rather than leverage-heavy day traders.
Long-Term Holders Show Early Stress
Not all on-chain signals are bullish. Glassnode’s Spent Output Profit Ratio for long-term holders has dropped below 1.0, indicating that some coins moved at a loss. Over the past 12 months, wallets holding between 1,000 and 10,000 BTC have offloaded roughly 220,000 coins, equivalent to more than $20 billion at current prices. If the selling extends, it could slow the rally even as momentum builds.
Corporate Treasuries Keep Growing
Public and private firms continue to add Bitcoin to their balance sheets. Glassnode reports that corporate holdings rose from 854,000 BTC to 1.11 million BTC during the last six months, a gain of about 43,000 BTC per month. The steady accumulation provides an underlying bid even as retail participation lags.
Retail Still Missing in Action
Despite the price surge, small-wallet inflows remain negative on a 30-day basis. Analyst IT Tech summarized the mood:
“Retail is missing in this Bitcoin move.”
Without a pickup in grassroots demand, pullbacks could be sharper once the initial momentum fades. For now, traders are focused on the $105,000-$106,000 ceiling and whether another leg higher can draw sidelined retail buyers back into the market.
Key Takeaways
- Bitcoin ended a 54-day range with a decisive break above $94,000
- Institutional-size spot orders fueled the rally to $96,800
- Corporate treasuries added ~260,000 BTC in six months
- Long-term holder SOPR below 1.0 hints at profit-taking pressure
- Next major resistance sits at $105,000-$106,000
