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Bitcoin Could Explode Past $100K—But Only If It Passes the Crypto Hunger Games

BBG News

Bitcoin is basically the Molly Ringwald of crypto right now—raising everyone’s spirits and drawing the spotlight with a gorgeous 8% weekly glow-up. The rest of the crypto market is getting a confidence boost, too (just like Duckie in his best vest). According to a new report, if Bitcoin manages to hurdle one specific resistance—think of it as the final boss in a Nintendo game—it could boogie straight up to $106,000.

Will Bitcoin Actually Make Fetch Happen at $106K?

At this moment, BTC is chilling slightly above $95K like it owns the place. Weekly performance is so perky, it could land a Calvin Klein campaign: 8% up this week, and 14% in the last month. But before you pop champagne, the crypto rollercoaster is still in full swing: In just 24 hours, Bitcoin was waffling between $95,598 and $93,498. Talk about a commitment problem.

Enter Matrixport (aka the Hermione Granger of data), whose recent report hints that Bitcoin’s party is far from over. But there’s a catch—naturally. Bitcoin needs to clear one daunting resistance level before anyone should start pricing yachts.

Is This Rally for Real, or Just a Filibuster?

Matrixport has circled $94,293 in red marker as Bitcoin’s “seriously, do it or quit” resistance. Earlier, Bitcoin made a dramatic escape from a ruthless downtrend at $85,712 (much like James Bond, but with fewer cocktails). Since then, prices have been strutting uphill, but now Bitcoin faces the mother of all trust falls.

According to Matrixport, if BTC barrels through $94,293, it could start frolicking towards $106,000. Of course, this depends on a Broadway musical of perfect conditions: US stock market swagger, some Trump tariff tweets, and lots more stablecoin money pouring in. In short, Bitcoin needs everything but a fairy godmother and a Red Bull.

There’s also some ETF magic in the wings. Thanks to BlackRock’s BTC ETF (because of course it’s BlackRock), ETF inflows have become the new pre-game. Matrixport claims these US spot BTC ETF inflows are putting some real pep in Bitcoin’s step. If BTC breaks resistance, this party could go on all night. Someone warn your sleep schedule. 😴

On-Chain Activity: The Receipts Don’t Lie

Still skeptical? Bitcoin’s network is lighting up like Broadway: On-chain data from IntoTheBlock just reported 800,000+ active BTC addresses in a single day. It’s not a record, but it’s like seeing a favorite 90’s sitcom get a reboot—a big deal, with plenty of audience.

Rising wallet activity usually means there’s anticipation, possibly the next big move. BTC and Ethereum together sparked last week’s $3.4 billion inflow into digital assets. Globally, it feels like everyone wants back in—maybe right after muting their boss on Zoom.

What Do the Cool Crypto Kids Say?

Crypto analyst Carl Moon (yes, names are getting wilder) says Bitcoin could hit $104K, but only if it busts through that elusive $95K barrier. 👀

Carl spotted a bullish pattern that could mean Bitcoin rockets even higher if—and that’s one big if—it can break out properly. Both his analysis and Matrixport’s predictions put the $94K-$95K area in bright, flashing neon as Bitcoin’s very own crossroads.

So, will Bitcoin conquer its resistance and hop on the $100K bandwagon? Or will it do that thing teenagers do at prom: get nervous and go home early? Someone grab the popcorn and let’s find out. 🍿

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2025-04-29 15:00

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