Bitcoin's Momentum Weakens: Will It Break the Key Resistance Level of $95,000?

TradingKey - Bitcoin has risen nearly 27% over the past two weeks. Can it continue to climb and break through the key resistance level of $95,000? 

On Thursday, Bitcoin  (BTC)  showed signs of slowing down, hovering around $93,000. The day before, it had peaked at $94,696 but failed to break through the $95,000 barrier, which had marked the high during a March rebound.

Bitcoin Price Trend Chart, Source: TradingView.

Since April 9, Bitcoin's price has been on an upward trend, driven by easing trade tensions. It is now approaching a key resistance level at $95,000. Markus Thielen, Head of Research at 10x Research, remains cautious. He notes that stablecoin minting indicators have not yet returned to active levels, and views $95,000 as a critical resistance point that could potentially trigger short-term stop-loss liquidations.

However, some market analysts suggest that although Bitcoin has not yet broken through the $95,000 resistance, growing investor confidence could soon lead to a breakout. Market sentiment has shifted notably, with the fear & greed index rising from a low of 25 to 53.

Additionally, John D'Agostino, Head of Strategy at Coinbase's institutional division, observes that retail investors are exiting the market via ETFs and spot trading. Meanwhile, sovereign wealth funds and other institutional players are accumulating Bitcoin, helping to absorb the selling pressure from profit-taking.