Bitcoin’s price is currently trading around $86,000, encountering a resistance level at $98,081. Analyst Ali Martinez indicates that if Bitcoin can surpass this price point, it may reach $100,000. Conversely, a dip below $59,882 might lead to panic selling. Market volatility continues amidst recent positive developments.

The Bitcoin (BTC) market recently experienced a modest rise of 1.10% over the past week, according to CoinMarketCap data. However, prevailing macroeconomic factors, including recent statements from US President Donald Trump, contribute to uncertainty regarding the cryptocurrency’s future trajectory, raising concerns about potential price corrections.

In conclusion, Bitcoin’s ability to surpass the significant resistance level at $98,081 is crucial for its potential recovery and advancement towards $100,000. While there exists a foundational support at $59,882, any decline beneath this level may incite panic selling among investors. Thus, the bitcoin market remains under scrutiny as it navigates these critical points of support and resistance.

Original Source: bitcoinist.com

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