Bitcoin is seeing renewed optimism of a recovery, as crypto market analysts are eyeing six figures for the cryptocurrency as it gained above $92,000 after a fall to $84,500.
“This is what you’d want to see. [Bitcoin] coming back up again, after a weird move down on the 1st of this month,” MN Fund founder and analyst Michaël van de Poppe said on Tuesday.
He added that it was “crucial” for Bitcoin (BTC) to break above $92,000.
“If that breaks, then I’m sure we’ll start to see a new all-time high and a test at $100,000.”
Van de Poppe compared Bitcoin’s current price situation to its previous cycle and questioned whether its recent drop was the final shakeout.
“All indicators have overextended to the downside on the last crash of Bitcoin, which implies that the crash itself had a magnitude heavier than Luna and FTX, and COVID,” he said.
Bitcoin reached a 24-hour peak of $93,040 on Coinbase in early trading on Wednesday, according to TradingView. It has recovered all of the losses over the past two days from a leverage flush late on Sunday that wiped $8,000 off its price.
Macroeconomic tailwinds to drive markets
Nick Ruck, director at LVRG Research, told Cointelegraph that he’s confident Bitcoin will again reach six figures in the coming months.
“As Bitcoin’s resilience shines through amid evolving regulatory landscapes and institutional adoption in late 2025, we see a compelling path for it to reclaim the $100,000 mark in the coming months,” he said.
Related: Bollinger Bands suggest Bitcoin bottom won’t fall under $55K
Ruck added that Bitcoin’s rise would be “driven by macroeconomic tailwinds, such as renewed Fed rate cut potential and returning ETF inflows.”
Key support zone determines next direction
In a blog post before the rebound, analysts highlighted the $86,000 to $88,000 level as a key support zone that must be held.
“This level withstood sixty tests throughout recent months without breaking, making violations particularly significant,” said analyst “Crazzyblockk.”
“Trading above shows reduced selling pressure as active traders maintain profitable positions,” they added. The coming week will be critical as defending this level maintains structure.
“Breaking below initiates scenarios targeting lower prices as sophisticated participants shift from accumulation to distribution.”
Bitcoin was trading at just over $92,700 at the time of writing, up 7% over the past 24 hours.
Magazine: Animoca’s bet on altcoin upside, analyst eyes $100K Bitcoin: Hodler’s Digest
