Bitcoin explains more than $ 98,000: Is $ 100K as follows, or a trap?

bitcoin has shot beyond $ 98,000 on Thursday, feeding an intense debate among merchants about whether the $ 100K milestone is again within reach or if the current rally is vulnerable to rapid correction. Behind the scene, market observers point out the increase in open interest (OI) and the increase in influence, highlighting the possibility of a thrust driven by leverage.

Rally or bitcoin trap?

The analyst of the maartunn cryptocant community (@ja_maartun) warned of an “leverage pump”, pointing out a jump of $ 2.4b in the OI of bitcoin in 24 hours. Through x, he wrote: “Pump driven by leverage: increase of $ 2.4b (7.2%) in open interest in bitcoin in the last 24 hours.”

<img class="wp-image-700852 size-full" src="https://technicalterrence.com/wp-content/uploads/2025/02/Bitcoin-explains-more-than-98000-Is-100K-as.jpg" alt="bitcoin price and open interest change” srcset=”https://www.newsbtc.com/wp-content/uploads/2025/02/GkQbXx1X0AA6EN_.jpg?w=1600 1600w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkQbXx1X0AA6EN_.jpg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkQbXx1X0AA6EN_.jpg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkQbXx1X0AA6EN_.jpg?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkQbXx1X0AA6EN_.jpg?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkQbXx1X0AA6EN_.jpg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkQbXx1X0AA6EN_.jpg?w=1140 1140w” />

Confirming these observations, the well -known general Byzantine cryptographic commentator (@byzgeneral) <a target="_blank" href="https://x.com/ByzGeneral/status/1892644710692307259″ target=”_blank”>outstanding The important role of long and fresh positions in the highest propellant prices: “Many long lengths that come here in btc, which is pushing the highest price. A little curious that the whole market is being lifted at this time on the back of these degen yearnings here. “

Alpha Dojo (@alphadojo_net) analysts <a target="_blank" href="http://x.com/alphadojo_net/status/1892545916101349861″ target=”_blank”>resonated Feelings of precaution, underlining a notable gap between the open interest based on futures and the purchases driven by the point: “btc continues to advance up, while the OI constantly increases, but there is little purchase of spots. btc is now approaching the upper end of the range again. It seems that some market participants have tried to put into account the planned offer of $ 2 billion planned. “

Although the perspective of a large purchase could boost the market, they warn that without fresh catalysts such as a “short -term narrative or positive news, it seems that btc will have difficulty pumping sustainably above the $ 100K brand.”

Bob Loukas renowned cryptographic analyst <a target="_blank" href="https://x.com/BobLoukas/status/1892658304217710766″ target=”_blank”>provided

A cyclic frame to interpret bitcoin's price movements, noting that the market can approach at the end of one cycle of several weeks and at the beginning of another: “We are about to complete a weekly cycle of bitcoin, since I have been sharing the last 6 weeks. For the context, there have only been 5 weekly cycles since the minimum of the 2022 bear market. (AVG 6 Month Events). 4 of these cycles had 90-105% movements. One could not do much (June to September 23) “.

When asked if this points to an imminent market, Loukas clarified: “I am saying that we are about to start a new one. The cycles always begin from the minimum. “Their comments suggest that although a cycle transition is imminent, it is not necessarily equivalent to a market peak: instead that it could mark the beginning of a new upward trend.

Rekt Capital Technical Analyst (@RECTCAPITAL) <a target="_blank" href="https://x.com/rektcapital/status/1892862706148835598″ target=”_blank”>emphasized The importance of bitcoin's daily closure above the threshold of $ 97,700, suggesting that a new test of this area could pave the way for a movement of more than $ 100,000: “The initial stage impulse generated by the upward divergence is He has translated into this recent breakup. And with the recent daily closure above ~ $ 97700, bitcoin will now try to prove that level as support to allow the continuation of trends. “

In addition, he developed on the bitcoin Relative Force Index (RSI) channel, which implies that the breakdown above a series of lower maximums can indicate the next stage: “Over time, the price of bitcoin continued to return To test the blue trend line as support. that the RSI can be ready for tendency within the reach of the top of the channel. ”

<img class="wp-image-700848 size-full" src="https://technicalterrence.com/wp-content/uploads/2025/02/1740168803_162_Bitcoin-explains-more-than-98000-Is-100K-as.jpg" alt="bitcoin pricing analysis” srcset=”https://www.newsbtc.com/wp-content/uploads/2025/02/GkTOxkfWsAAeqkN.jpg?w=1200 1200w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkTOxkfWsAAeqkN.jpg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkTOxkfWsAAeqkN.jpg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkTOxkfWsAAeqkN.jpg?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkTOxkfWsAAeqkN.jpg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2025/02/GkTOxkfWsAAeqkN.jpg?w=1140 1140w” />

Looking towards the future, a new $ 97,700 test as a support could confirm the Rekt Capital's upward perspective: “The daily closure above $ 97700 has been successful (light blue). Any immersion in $ 97700 would constitute an attempt to reestima. A new test after the rupture of $ 97700 in a new support would completely confirm the break to position btc for a recovery of a $ 101K resistance. ”

At the time of publication, btc quoted at $ 98,645.

<img class="wp-image-700838 size-full" src="https://technicalterrence.com/wp-content/uploads/2025/02/Bitcoin-explains-more-than-98000-Is-100K-as.png" alt="bitcoin price” srcset=”https://www.newsbtc.com/wp-content/uploads/2025/02/BTCUSDT_2025-02-21_12-49-31.png?w=3628 3628w, https://www.newsbtc.com/wp-content/uploads/2025/02/BTCUSDT_2025-02-21_12-49-31.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2025/02/BTCUSDT_2025-02-21_12-49-31.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2025/02/BTCUSDT_2025-02-21_12-49-31.png?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2025/02/BTCUSDT_2025-02-21_12-49-31.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2025/02/BTCUSDT_2025-02-21_12-49-31.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2025/02/BTCUSDT_2025-02-21_12-49-31.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2025/02/BTCUSDT_2025-02-21_12-49-31.png?w=1140 1140w, https://www.newsbtc.com/wp-content/uploads/2025/02/BTCUSDT_2025-02-21_12-49-31.png?w=3000 3000w” /> (Tagstotranslate) bitcoin (T) bitcoin News (T) bitcoin Price