Биткоин на пути к новым вершинам: преодоление ключевых уровней и изменения в настроениях рынка Translation: Bitcoin on the path to new heights: overcoming key levels and changes in market sentiment

To achieve new heights, the price of the leading cryptocurrency must overcome the «clusters of supply from significant buyers» in the ranges of $93,000 to $96,000 and $100,000 to $108,000, as noted by representatives of Glassnode.

The digital gold has already succeeded in breaching the barrier of $89,000 to $90,000, marking an exit from the «high-risk zone,» according to Bitcoin Vector.

«For Bitcoin to gain momentum and break out of the consolidation that has been forming since the all-time high, it needs to gather strength,» analysts explained.

At the time of writing, the first cryptocurrency is trading around $91,356, having appreciated by approximately 6% over the past week, according to data from CoinGecko.

According to Bitcoin Vector, a «full breakthrough» of the consolidation zone between $93,500 and $95,000 is essential for strengthening the upward trend.

«During this process, the risk-off indicator should fall into the ‘safe zone.’ This will confirm the dominance of buyers over sellers and mark the beginning of momentum formation,» researchers noted.

In their view, without momentum and with the high risks persisting, any increase will only be tactical, lacking structural recovery.

Bitcoin Vector indicates that the market is still in a «high-risk zone,» but the situation is stabilizing: selling pressure is easing, and spot demand is «finally beginning to shift the balance of power.»

«The key question is: has the worst passed? The situation will clarify upon retesting the $94,000 to $95,000 range—this is a critical threshold for confirming a trend reversal,» the researchers emphasized.

The popular market sentiment indicator still points to «extreme fear,» although its values are gradually rising.

Analysts at Santiment noted that the recent rise in bearish sentiment on social media historically precedes positive momentum in the market.

«Most significant reversals occur when retail investors have nearly lost hope. Generally, markets move against the crowd’s expectations,» experts highlighted.

The improvement in sentiment is also reflected in the Bitcoin ETF segment, where moderate capital inflows have been observed for the second consecutive day. Ethereum-based funds have seen net inflows over the previous four trading sessions.

As a reminder, analysts at Glassnode identified a level that confirms the bear market phase.