Key Points
- BTCUSD (Bitcoin) trades at $98,173, consolidating below $100,000.
- USDT (Tether) dominance trends signal an upcoming breakout, mirroring past rallies.
- BTCUSD could target $150,000, a 53% increase from current levels.
BTCUSD has remained below $100,000, stabilising around $98,173 as bullish momentum builds. Investor sentiment has cooled since early February, with enthusiasm around Trump’s crypto policies fading. However, technical indicators suggest this stagnation is a re-accumulation phase, a setup seen before major breakouts.
One key metric to watch is USDT dominance, which tracks the share of stablecoins in the total crypto market cap. A decline in USDT dominance typically signals traders rotating funds back into BTCUSD, increasing buying pressure.
USDT Trends Point to $150K Target
Past BTCUSD rallies have coincided with USDT dominance declines. Accumulation phases in early 2023 and late 2023 preceded major price surges. The current pattern, forming since December 2024, suggests another breakout could be near.
If BTCUSD follows previous cycles, this accumulation phase could end in 1–2 weeks, pushing prices to new all-time highs. The first key hurdle is $100,000, which has acted as a strong psychological resistance level.
Technical Analysis: BTCUSD Eyes Breakout
Picture: Bitcoin consolidates near $98,173.56 as traders weigh resistance at $98,709.36, as seen on the VT Markets app.
Bitcoin edged 0.09% higher, closing at $98,173.56 after opening at $98,080.79. The session peaked at $98,508.51 and found support at $98,048.87, reflecting steady bullish momentum as traders assess market liquidity and institutional inflows.
Moving averages (MA 5,10,30) show continued upside pressure, with short-term MAs supporting price action. MACD (12,26,9) signals a fading bullish trend, as histogram bars shrink and the signal line flattens.
Key resistance is at $98,709.36, while support stands at $95,414.81. A breakout above resistance could drive new highs, while a pullback to support may test buyer interest.
Market Outlook
Bitcoin’s long-term bullish trend remains intact, with USDT dominance signaling a shift back to risk assets. Traders will watch USDT trends, ETF inflows, macroeconomic data, and institutional flows for confirmation of the next move.
