Bitcoin soars to $96,000: How high can It go?

Bitcoin Breaks Through $95,000: Global Demand Takes the Lead

The king of cryptocurrencies has recorded solid performance over the past 24 hours, currently trading around $94,600. This movement marks a break from the consolidation of previous weeks. However, a crucial on-chain indicator, the Coinbase Premium Index, remains stubbornly negative. In concrete terms, this means that Bitcoin is trading at a lower price on Coinbase (popular in the USA) than on Binance (the global leader).

This divergence is a strong signal: the current rally is not being driven by US institutions or American retail investors, but rather by global demand and offshore markets. Historically, a negative Coinbase Premium during a price increase suggests a potentially fragile movement, as it lacks the support of massive US-based capital.

The market therefore finds itself in a situation of divergence. While the spot price climbs, the absence of buying pressure on regulated US platforms could indicate that American investors are taking advantage of this rally to distribute (sell) rather than accumulate, creating a risk of a short-term bull trap.

Technical Analysis: Are $100,000 Really Within Reach?

From a technical perspective, Bitcoin is currently testing a major resistance zone (notably a 3-day POC) located between $95,000 and $97,000. A daily close above this band is imperative to validate the continuation of the movement toward the psychological threshold of $100,000. Buying volumes on derivatives markets show that traders are betting on a continuation, but caution remains warranted as long as US spot markets don’t follow.

In case of rejection at these levels, the first critical support to watch is around $91,000, a zone that served as a springboard during the weekend rebound. If this level gives way, the scenario of a deeper retracement toward $87,000 could quickly materialize, invalidating the short-term bullish structure.

Momentum indicators show buying strength, but without confirmation from American institutional flow (via ETFs or Coinbase), this breakout remains vulnerable. However, if BTC breaks and holds $95,000, Bitcoin could explode between $100,000 and $119,000 in the coming weeks.

The situation is clear: the global market is pushing, but America is holding back. If the Coinbase Premium turns green again in the next 48 hours, $100,000 could be shattered quickly. Conversely, if the divergence persists, should we expect a brutal correction as soon as Asia and Europe take their profits?

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