Crypto

Bitcoin Surges Past $98,000 as Volatility Signals a Major Breakout

Bitcoin (BTC) has broken above $98K, pushing closer to the psychological $100,000 milestone, with momentum building and technical signals flashing green.

Key Highlights:

BTC Price: Breaks above $98,000, printing a new local high
RSI: Daily RSI climbs above 70, confirming bullish momentum
Dominance Metrics: Bitcoin dominance rises sharply while altcoins lag
Market Cap Resistance: TOTAL nears $2.97 trillion; breakout incoming?
Volatility Index: BVOL7D breakdown suggests explosive move ahead

🔍 Bitcoin Technical Overview

Bitcoin’s price action has flipped decisively bullish:

RSI is above 70, a key strength indicator.
OBV (On-Balance Volume) is trending higher.
The 4-hour chart shows a TBO “reset” pattern, hinting at a potential Breakout Cluster, just like the April 21 rally from $86K.

Key Resistance Levels:

$100,000 (psychological barrier)
$109,000 (all-time high)

📊 Market Dominance Snapshot

BTC Dominance: Surges with RSI at 85.18 — Bitcoin leads the charge.
Top 10 Dominance: Weakening as capital rotates into BTC.
Altcoin Dominance (OTHERS.D): Attempting to bottom, but upside limited so far.

🌐 Crypto Market Cap Trends

TOTAL Crypto Market Cap: Nearing resistance at $2.97T with rising volume.
OTHERS (Altcoin Market Cap): Testing key resistance; breakout depends on volume support.

⚡ Volatility Compression Could Trigger Massive Move

BVOL7D just printed a third consecutive TBO Breakdown, historically a bottoming pattern for volatility. If history repeats, BTC could soon experience a sharp rally, especially given current technical strength.

🪙 Altcoin Watch

ETH: Pectra upgrade fizzles; gains just 1%.
LINK, SUI, LTC, BCH: Following BTC higher.
CRO: Prints TBO Open Long.
Small Caps: KAITO (+62%), STX sees volume triple, ONDO & TIA test resistance.

📈 What’s Next for Bitcoin?

Bitcoin’s breakout above $98,000 sets the stage for a potential move toward $100K and beyond, especially if macro sentiment (like China-US trade talks) continues to improve.

Stay tuned on www.dailyforex.pk for more real-time crypto updates, technical analysis, and market forecasts.

Yasher Rizwan