Bitcoin Surges, Faces Key Resistance at $94K With Analysts Cautious

Bitcoin price jumped 5.9%, reaching $93,582 but faces strong resistance at $94,000. Analysts advise caution on leverage trades in this zone. While institutional interest grows, profit-taking may occur if the resistance holds. Bitcoin is at a crucial point: a breakout could push it towards $100,000, while a rebound might lead to lower support levels.

In recent hours, Bitcoin has experienced a notable upward movement, surging 5.9% to reach a trading price of $93,582, alongside a dramatic increase in trading volume, which soared by 63% to approximately $59 billion. Just a day prior, on April 22, 2025, Bitcoin climbed past the $90,000 threshold before briefly hitting $91,000. Despite this bullish trend, analysts are pointing to significant resistance at the $94,000 mark, creating uncertainty about whether Bitcoin can maintain this momentum or possibly retreat back toward $80,000.

Recent days have seen Bitcoin retain a vigorous momentum, breaking through the $89,000 barrier, marking its highest peak since the early days of March. As it reached $91,000, a strong demand during U.S. trading hours was observed. Opinions have been ranging from high optimism, with Standard Chartered Bank suggesting Bitcoin might achieve new all-time highs, catalysed by concerns surrounding the Federal Reserve’s monetary policies, to Bloomberg labelling it a “safe haven” asset that’s attracting institutional investments like that of Brandon Lutnick’s 21 Capital.

However, not every market analyst feels positive about diving headfirst into leverage positions. Expert Jelle specifically highlighted the $90,000-$94,000 range as a substantial resistance zone. He advised caution, stating, “I hope it breaks through as much as the next guy, but I wouldn’t recommend going apeshit with leverage longs here.”

On the technical side, Bitcoin’s recent price chart showcases a breakout from a descending channel, currently testing the resistance points around $93,700. The price has surged above both the 50-day and 200-day Simple Moving Averages (SMA), calculated at $84,362 and $88,509 respectively, which suggests a potentially bullish sentiment.

With Bitcoin pressing against the upper resistance of its triangle, the implications are that, should it fail to surpass $94,000, there’s a risk of reverting back to levels like $88,509 or even $77,000 for support. Conversely, should Bitcoin manage to break through the $94,000 resistance, there’s speculation it could skyrocket to around $100,000, especially with increasing institutional interest.

The investor community appears somewhat divided. Some acknowledge the resistance at $94,000 while others see undeniable bullish pressure. Data from Coinglass indicates there’s a vast bullish sentiment in the market, with cumulative long positions reaching approximately $18 billion, outpacing shorts that stand at about $1 billion. IntoTheBlock’s details reveal that around 86% of Bitcoin holders are in profit, though caution is advised, as any spike above $98,241 could trigger profit-taking from earlier investors.

To encapsulate the current sentiment: while long-term holders are largely sticking with their investments, those considering leverage trades might want to exercise caution. Riding high against significant resistance, this is a risky moment to go all-in on longs. It might be wiser to await for clear breakout signals or to look for dips toward the green zone mentioned by Jelle.

In the end, Bitcoin’s trajectory hangs in a balance—bulls are putting up a solid front, but the $94,000 barrier is a formidable opponent. A successful breakout could launch prices towards $100,000 swiftly, while a rejection could steer the asset down towards the $84,000-$86,000 support range, with $77,000 looming as a further support.

Disclaimer: The opinions shared in this article are solely for informational purposes and should not be taken as financial advice. Investing in cryptocurrencies carries inherent risks and potential losses.