Bitcoin is currently testing demand below the 95,000 level. dollars, a key level that can provide the fuel needed for the next rally. While this phase of consolidation has left many investors concerned about a potential deeper correction, with some even speculating that BTC may have already peaked, key indicators paint a more bullish picture.
CryptoQuant analyst Axel Adler shared a compelling chart showing market sentiment and price correlation. Offers valuable information on the current state of the market. According to Adler, the market will only overheat when the index shown on the chart reaches the 95th percentile – a level that historically signals the beginning of a correction phase. Encouragingly, the market remains well below this threshold, suggesting there is still room for further gains before hitting critical resistance.
This analysis aligns with broader sentiment among long-term investors, who view the current consolidation as a hearty pause in Bitcoin’s upward trajectory. As BTC holds above key support levels, all eyes are on its ability to break above $95,000 and reclaim the psychological $100,000 mark, potentially setting the stage for another significant rally.
Bitcoin is waiting for a decisive move
After weeks of consolidation below the key level of 100,000. dollars, Bitcoin finds forceful demand above the level of 92 thousand. dollars, signaling resistance to market uncertainty. Analysts are closely monitoring this level as BTC approaches a critical moment, expecting a decisive move. Time will tell if the price will exceed 100,000. dollars, or will it fall below 90 thousand? dollars, but the stakes are high as investors brace for significant volatility.
Adler recently shared insightful data and analysishighlighting the key metrics you should track throughout the year to anticipate market changes. Adler revealed that the market will reach an overheated state when the Market Sentiment and Price Correlation Index rises to the 95th percentile. Historically, this level has signaled the beginning of major corrections, so it’s worth watching.
Adler highlights three key metrics to monitor as the index approaches this critical level: long-term holder sales (LTH), ETF outflows and investor behavior in MicroStrategy stock (MSTR). These signals, if leveled out, will likely signal the beginning of a correction phase. For now, Bitcoin remains on hold with forceful demand supporting its price, but another gigantic move could set the tone for the rest of the year.
Critical levels to watch
Bitcoin is currently trading at $94,500, holding above key support, but faces challenges in regaining bullish momentum. For the bulls to take control, the first step is to recover the $95,000. However, this alone is not enough. To confirm a sustained uptrend, BTC must cross the $98,000 and $100,000 levels in the coming days.

The level of 100,000 remains a psychological and technical barrier. dollars. Breaking above this level is critical, but to solidify the uptrend, Bitcoin needs to stay above this level for several days. Lasting presence of over 100,000 dollars would provide market participants with confidence and signal a continuation of the upward pattern.
On the other hand, failure to regain these key levels could result in further declines. If BTC struggles to break the $95,000 level and fails to regain the $98,000 and $100,000 levels, a drop below the $92,000 support becomes increasingly likely. Such a scenario would expose Bitcoin to deeper corrections, potentially targeting the $85,000 demand zone.
The next few days will be crucial as BTC moves in a tight trading range. Whether the bulls manage to regain control or the bears push prices lower will set the tone for the coming weeks.
Featured image from Dall-E, chart from TradingView