41 Bitcoin eyes are focused on breaking through the $40,000 resistance level. Bitcoin still has the market in its back pocket as it moves closer to the highly anticipated $100K mark. But just when bulls are poised to charge, a recalcitrant resistance zone around $96,000 recharges and punches back with a vengeance. Today’s crypto market is anything but stable—turbulent momentum, abrupt liquidations, and guarded optimism. The market dreams of 100k but faces stiff opposition from bearish sentimentBTC Price: The Tug of War ContinuesAt the time of writing, Bitcoin is trading at approximately $94,948, demonstrating a relatively small 0.21% intraday peak. Earlier today, BTC reached an intraday high of $95,598 before dropping down to an intraday low of $93,498, indicating a market in a tight consolidation. Market analysts are watching closely as Bitcoin eyes new all-time highs.Price action has been forming a series of rallies and sharp reversals that keep forming but quickly correct, a sign of the constant difficulty of sustaining bullish strength. As each bounce effort collapses just shy of $96K, it is obvious Bitcoin requires more than a little momentum—Bitcoin requires a breakout stimulus. As the ETF debate continues, Bitcoin eyes potential market shifts.Over the last 24 hours, Bitcoin’s daily trading volume skyrocketed by a massive 48.39%, reaching $30.87 billion, a clear indication that traders are engaged and active. This rise in volume was accompanied by $45.62 million of BTC being liquidated from the market, indicating higher volatility and leveraged positions getting liquidated.These liquidation levels indicate that numerous traders are making forceful wagers on the direction of BTC—only to find themselves surprised by abrupt whipsaws. It’s an indicator that there is confidence, but uncertainty still pervades the general sentiment.In spite of the choppy price movement, the Fear and Greed Index has risen to 60, which puts the market in the “Greed” region. This change in sentiment indicates that investors are becoming more optimistic about a breakout. Entering the greed region also raises the risk of emotional trading and possible corrections. Bitcoin eyes a surge in interest as more nations explore central bank digital currencies. Bitcoin eyes 100k but faces stiff resistance at key psychological levels.Read more: Bitcoin Price Analysis | KiloEX DEX Hacked | Bitcoin Price AnalysisResistance at $96K:$96,000 is now Bitcoin’s newest front in the battle. Every effort at breaking through that resistance has seen instant rejection and has created an obvious psychological as well as technical barrier. Observers are sure that this level is filled to the brim with sell orders, probably originating from short-term traders taking gains before the imminent $100K test.To cross this barrier, Bitcoin might need to have a mixture of macroeconomic tailwinds, positive institutional inflows, or an exceptionally strong on-chain signal that sparks confidence again for a breakout.Bitcoin’s present phase of consolidation isn’t necessarily bearish. Instead, it’s an indication that the market is pausing, rebalancing, and possibly gearing up for its next large-scale move. If BTC is able to maintain above $94K and test $96K with solid volume support, the route to $98K–$100K becomes more realizable.However, a lack of ability to hold above $94K might open the doors to short-term corrections towards $92K or even $90K, depending on whether larger market sentiment goes risk-averse.
