Key Insights:
- Bitcoin price reclaims $95,000, eyes $100,000 next amid renewed US-China trade talks.
- FOKC meeting could push BTC to $134,000 if historical patterns repeat.
- Bitcoin forms key support at $95,000, targeting $134,000 in a bullish scenario.
Bitcoin price has reclaimed the $95,000 mark. At press time, it was trading around $96,500. This happened after a sharp surge triggered by renewed trade talks between the United States and China.
BTC surged by over $1,700 in just 10 minutes after confirmation of renewed negotiations. This rapid increase reflects strong market optimism surrounding the economic talks.
This development has fueled optimism in the crypto market, boosting sentiment. Major tokens like XRP, Cardano, and Dogecoin have also seen upward momentum.
Bitcoin Price Reclaimed $95,000, Sets Sights on $100,000 Next
According to a recent analysis by Gerlaenco, Bitcoin price has reclaimed the critical $95,000 level. This confirmed a breakout above a significant support zone.
His 4-hour chart highlighted the recent bounce from $92,000 to $95,000. There, top cryptocurrency consolidated before this latest rally.
The chart showed that the BTC price hit a local high of nearly $97,886 before slightly retracing. The analyst expects the next target to be $100,000, projecting a rapid move if the momentum continues.
This bullish breakout aligned with the broader market sentiment. This happened as the Bitcoin price found support above a significant accumulation zone. The $95,000 level has acted as a psychological level, providing a strong base for potential upside.
The next technical and psychological resistance will be around $100,000 if this level is reached. Beyond this area, the outlook on the road to $134,000 becomes clearer with the stronger bullish sentiment.
FOMC Meeting Could Spark Major BTC Rally to $134,000
Additionally, crypto analyst Coinvo said the upcoming FOMC meeting could be a significant catalyst for Bitcoin.
The analyst observed that BTC price surged following a Federal Open Market Committee (FOMC) meeting in late 2024. This pattern suggests a potential correlation between monetary policy decisions and market movements.
The intensity of this pattern indicates a significant price movement, with the chart projecting $134,000 as a possible target. This forecast mirrors the current technical setup, reinforcing the potential for a repeat scenario.
This historical comparison illustrated that after each FOMC decision, Bitcoin price spiked substantially, and each spike catapulted prices much higher.
The upcoming FOMC meeting on Wednesday could heighten market volatility as traders position themselves for potential price swings.
Anticipation of a breakout may drive increased activity across significant assets. If Bitcoin price surpasses $100,000, the next key resistance level may be around $134,000. This aligns with the projected price movement from the previous FOMC-driven surge.
US-China Trade Talks Add Fuel to Bitcoin’s Momentum
Macroeconomic factors drove the recent rally. The U.S. and China announced the restart of trade talks this week. This development has fueled optimism in financial markets.
The first high-level economic discussions between the two nations since Trump’s return to power will occur in Switzerland. This has raised investor confidence since traders expect reduced trade relations tensions.
The US Treasury confirmed that US Trade Representative Jamieson Greer and Secretary Scott Bessent will lead the American delegation. At the same time, China’s Vice Premier He Lifeng will represent Beijing.
Ongoing tariff disputes have strained global trade dynamics, and these talks are critical to stabilising them. Moreover, it also signifies a positive market reaction to Bitcoin’s news.
This implies that the cryptocurrency may see growth based on a risk-on sentiment if the talks are successful.
Bitcoin Price Faces Key Technical Levels
Despite the recent rally, Bitcoin price must clear several critical technical levels before targeting the $134,000 mark. Immediate resistance is near $97,886, the recent local high.
A move above this level would likely verify the next leg up, with a destination of $100,000. If current momentum weakens, the $92K–$95K support zone may face a retest. This level remains a key area of accumulation for traders watching market shifts.
Ali Charts highlighted that the Bitcoin price is steadily approaching the $97,700 resistance level. This marks the weekly range high on the 4-hour chart, signaling a key technical zone for traders.
Indeed, several lower highs and higher lows characterize the price action leading to the FOMC meeting in the coming week.
This level has served as a short-term resistance zone during this year’s rallies, and a break below it could lead to another dip. As BTC trades near $96,50,0, the failure to surpass this barrier may lead to price testing at $95,000 or $94,000.
Meanwhile, Bitcoin’s recent rise above $95K has helped alleviate immediate downside risks, reclaiming the 200-day moving average.
If Bitcoin maintains its price above this level, analysts see it as a strong foundation for further gains. This could pave the way for a continued rally toward $134,000.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
