Bitcoin Price Surges To Seven-week Highs
Bitcoin approached key resistance levels after Wall Street opened on April 25, as skepticism around the strength of the BTC price breakout remained.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching new seven-week highs, trading above $95,000.
After maintaining its yearly open at $93,500 as intraday support, Bitcoin pushed higher, triggering the liquidation of leveraged short positions as it moved closer to the $100,000 mark.
Monitoring resource CoinGlass indicated that Bitcoin was successfully clearing upside liquidity across exchange order books.
Reacting to the price action, popular trader Daan Crypto Trades highlighted the significance of the current price range within the broader Bitcoin bull market trend.
“Trading back above the Bull Market Support band as we speak,” he wrote in an X post, referring to a group of moving averages that Bitcoin had previously lost earlier in 2025, adding:
“A weekly close above this level would be a good look for the larger timeframe and I'd expect new highs at some point as long as it holds above.”
Others maintained a cautious stance, with trader Skew pointing to an ongoing battle between a large-volume buyer and seller.
“Price would be a lot lower than it is now without the passive buyer matching this market selling,” he warned alongside an order book snapshot, and added:
“Eventually one will throw in the towel & volatility will follow through.”
Meanwhile, Keith Alan, cofounder of trading resource Material Indicators, also questioned Bitcoin’s ability to sustain levels above $95,000.
Alan noted declining volume as the price moved upward, repeated lower wicks under the yearly open, and a “down” signal appearing on one of Material Indicators’ proprietary trading tools.
“For me, a pump above $95k would invalidate the new signal, but I'd probably consider such a move to be a short squeeze unless we have a catalyst with some substance behind it,” he summarized.
Macroeconomic outlooks also suggested that Bitcoin could consolidate before pushing toward six figures.
In its latest update to its Telegram channel subscribers, trading firm QCP Capital said Bitcoin was still lacking a catalyst to drive it to $100,000.
“Given the pace of the recent rally, we remain tactically cautious,” it wrote, adding:
“Positioning has become more crowded, which could lead to sharper reactions around key levels. Market participants appear to be watching closely for signs of continuation or exhaustion.”
Sources:
https://cointelegraph.com/news/bitcoin-spikes-to-7-week-highs-analyst-doubts-chances-100k-rebound
https://www.tradingview.com/symbols/BTCUSD/?exchange=BITSTAMP
https://www.coinglass.com/pro/futures/LiquidationHeatMap
https://x.com/KAProductions/status/1915738320866361530
https://x.com/DaanCrypto/status/1915722959588671723
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