"The Bitcoin ( ) $98K breakout just changed the market structure. Bitcoin broke above $95,000 resistance and briefly touched $98,000 this week after spending weeks stuck in a tight range. The move puts all eyes on the $94,500 to $96,000 zone-what was resistance is now the line that separates continuation from consolidation. Bullish catalysts are also aligning: Bitcoin ETF inflows have surged past $1.7 billion in the past week, exchange balances keep falling toward multi-year lows, and momentum indicators are rebuilding."
"The breakout above $94,500 triggered a fast push toward $98,000 on January 14, with spot buyers stepping in near $94,000 and forcing shorts to cover. Volume expanded during the move-and this looked like conviction rather than a thin liquidity spike. The structure of the breakout matters. The Bitcoin price printed higher highs above the previous $97,000 cap while momentum cooled into neutral territory instead of flashing exhaustion. That combination suggests sellers are getting absorbed rather than buyers chasing late."
Bitcoin broke above $95,000 resistance and briefly reached $98,000 after weeks confined to a tight range. The $94,500 to $96,000 zone flipped from repeated rejection into defended support and now separates continuation from consolidation. ETF inflows exceeded $1.7 billion over the past week, exchange balances are declining toward multi-year lows, and momentum indicators are rebuilding. The breakout featured expanded volume, spot buyers stepping in near $94,000, and short covering. Price printed higher highs above the prior $97,000 cap while momentum cooled into neutral, suggesting sellers were absorbed rather than buyers exhausting. Holding above $95,000 preserves upside momentum toward $100,000.
Read at 24/7 Wall St.
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