Bitcoin Price Hits Critical $94K Level As Holders Eye Bull Confirmation
The post Bitcoin Price Hits Critical $94K Level As Holders Eye Bull Confirmation appeared on BitcoinEthereumNews.com.
Bitcoin price reached $94,000, touching a critical level that traders and investors have watched closely. The market waited for a clear confirmation of a new bull phase at press time, as several technical indicators and on-chain data supported the possibility of further upside. Bitcoin Price Reached Target as Key Levels Came into Focus Bitcoin price achieved the $94,000 target, as projected by several analysts earlier this month. EmperorBTC confirmed that the Q2 open was the most important level, and the price reclaimed this after spending some time below it. The range between $93,000 and $95,000 was the main bull-bear line. EmperorBTC stated that profits would be taken within this zone, and a wait-and-watch approach could follow depending on whether Bitcoin rejects or reclaims this range. Support levels were near $88,500 in case of a price pullback. Source: X The latest trading updates showed that Bitcoin has consolidated between $91,700 and $94,490 since April 22. Experts noted that Bitcoin could continue the uptrend if it could turn $95,000 into a support level. Market analyst AlphaBTC said, “Bitcoin consolidating under resistance,” referring to the $95,000 level. Whale Activity and Large Transactions Increased On-chain data showed a renewed presence of large Bitcoin transactions, suggesting interest from whales and institutions. The IntoTheBlock data suggested at press time that Bitcoin recorded 22,330 large transactions in the last 24 hours, close to the seven-day high of 23,740. This increase followed a low of 12,980 transactions on April 20, indicating strong buying activity. Bitcoin price has held above $80,000, and the large transaction activity has moved in tandem with the recovery. Source: IntoTheBlock Historical patterns suggest that a spike in whale activity often leads to further price moves upward. Previous periods, like late February and early March, showed similar behaviors before Bitcoin pushed higher. Bitcoin Price Resistance…
