TL;DR
- Bitcoin needs to stay above $95,000 to have a real shot at retesting its all-time high of $109,000.
- If the price falls below that level, it could trigger a deeper short-term correction.
- This week’s Federal Reserve decisions and the market’s positive sentiment could decisively influence Bitcoin’s direction.
In recent hours, Bitcoin has been flirting with a crucial level: $95,000. According to a Bitfinex report published on May 6, holding this threshold is essential for the leading cryptocurrency to get back on a bullish track and attempt to retest its all-time high of $109,000, reached in January this year, just before President Donald Trump’s inauguration. Currently, Bitcoin is trading around $96,730, showing a 3.03% increase over the past 24 hours, according to CoinMarketCap data. Additionally, many traders are adjusting their strategies, fearing they could get caught in losing positions, which is creating an atmosphere of high anticipation in the market. The increasing pressure is attracting more attention from institutional investors and retail traders alike.
The $95,000 Level As A Breaking Point
Bitfinex analysts highlight that the $95,000 mark acts as a structural pivot: staying above this level signals a clear return to bullish territory, while falling below could turn it into new resistance, leading to rejections and pushing the price down toward lower support zones. Moreover, crypto analyst Thomas Fahrer commented that if Bitcoin hits $98,000, over $400 million in short positions could be liquidated, adding fuel to a potential explosive rally. This scenario could surprise even experienced market participants, triggering a wave of unexpected upward movement.
External Factors And Market Optimism
A key element this week will be the Federal Reserve’s interest rate decision, scheduled for May 7. While the market does not expect immediate cuts, the Fed’s announcements have historically triggered volatility in the crypto market. At the same time, sentiment indicators like the “Crypto Fear & Greed Index” have jumped eight points in the past 24 hours, reaching 67 and showing a clear dominance of optimism (greed) in the market.
For pro-crypto enthusiasts, the outlook appears promising: experts like Jamie Coutts from “Real Vision” and Cory Klippsten from “Swan Bitcoin” have pointed out that June could be the month when Bitcoin breaks its previous records. Although historically June has shown a slightly negative average performance, the current combination of factors and the growing maturity of the crypto ecosystem open the door for Bitcoin to defy statistics and break historical barriers.
