In the past 24 hours, the price of Bitcoin (BTC) has surged by over 3% to $84,500, sparking optimism among traders. This price increase occurred as the total cryptocurrency market value also rose by 2.95% to $2.75 billion. Bitcoin faces key resistance levels in its upward trend, with liquidity injections reinforcing speculations about its move towards $105,000. Studies indicate a close relationship between Bitcoin and global liquidity trends. Historically, Bitcoin has consistently taken an upward trajectory with liquidity growth. Recently, with liquidity expansion, the price of Bitcoin has returned from $75,000. To reach $105,000, Bitcoin must surpass several crucial resistances. Currently, the 50-day moving average at $88,926 and the 200-day moving average at $96,392 serve as primary hurdles for this digital currency. On the other hand, key support lies in the $80,000 to $81,000 range, and a breach of this level could push the price back to $75,000. Another supportive factor for Bitcoin is the increase in its realized value, indicating more capital inflow into the market. According to Glassnode data, this index is consistently growing, reflecting the continuous influx of new investors into the market. Two main factors are essential for Bitcoin to reach $105,000: 1. Sustained global liquidity increase 2. Breaking through the $88,000 and $96,000 resistances with strong trading volume If favorable liquidity conditions persist, the Bitcoin uptrend could accelerate. However, traders should remain vigilant about major economic changes that could impact liquidity inflows. On the live digital assets price page, you can monitor the prices of all tokens and cryptocurrencies in real-time.
