Bitcoin comes back after being hammered; it is up more than 16% from the $80,600 low and back above $92,000and now everyone is talking about a possible $100,000 race.
The big catalyst? Avant-garde has just confirmed that it will allow trading of ETFs and mutual funds exposed to cryptocurrencies on its platform. This is huge because Vanguard has been pretty conservative when it comes to crypto so far. Bloomberg Eric Balchunas said BlackRock’s IBIT generated 1 billion dollars in volume on its first day at Vanguard. He joked that even the most conservative investors “like to add a little hot sauce to their portfolio.”
The timing is interesting too. Glass knot Data shows that Bitcoin “sharks,” wallets holding between 100 and 1,000 BTC, increased their holdings to 3.65 million coins on Tuesday, up from 3.45 million last week. This is a clear shift in sentiment towards an uptrend after the sharp sell-off.
From a technical perspective, Bitcoin forms an ascending triangle on the daily chart. The pattern shows higher lows running into resistance around $92,700 to $94,000. If it breaks out, the measured move indicates $102,800, just above the psychological $100,000 level that everyone is watching. The RSI is also recovering from deeply oversold territory, which historically corresponds to short-term reversals during bull markets.
Conclusion
Vanguard’s crypto inclusion, combined with improving technicals and further whale accumulation, suggests that Bitcoin could soon challenge $100,000, although breaking key resistance levels remains key to confirming the sustainability of the rally.
Read also: Best Crypto to Buy Now
