Bitcoin has rebounded nearly 5,44% over the past week, signaling renewed bullish momentum and a potential shift in market sentiment. After briefly dipping to $78,000, BTC staged a swift recovery, reclaiming key support zones. Currently trading just near $88,000, the leading cryptocurrency holds a market cap of $1,74 trillion, with daily volume exceeding $42 billion.

Crucial Resistance at $89,000

Market analysts are eyeing $89,000 as a key inflection point. This level aligns with the 50-day moving average and a descending trendline traced from previous all-time highs. A confirmed breakout here could open the door to a sustained bullish rally, with eyes on significantly higher targets.

Technical charts reveal BTC is still trading within a falling wedge pattern—a historically bullish structure. Some analysts remain cautious, suggesting a potential retest of the $80,000 range before a decisive breakout. If confirmed, this move could set the stage for a powerful rally with projections reaching as high as $109,000.

Momentum Builds Ahead of Quarterly Close

As the quarter nears its end, bullish sentiment continues to build. Market participants are watching BTC’s price action closely for confirmation of a trend reversal. If momentum holds, the next few days could define the trajectory of Bitcoin through spring and potentially signal the start of a fresh upward cycle.

A few days earlier, several Bitcoin whales resurfaced, making large transactions across the network