Bitcoin Breaks Through Resistance, Could Hit $94,100

Bitcoin price has surged past the 50-day Simple Moving Average (SMA), indicating a continuation of its bullish momentum. This breakout suggests growing strength in the market and could pave the way for a significant price jump to around $94,100. Analysts attribute this rise to expanding DeFi applications and increasing institutional investment. The next key resistance lies at the 200-day SMA at around $87,250. Crossing this level would signal a potential shift in market sentiment and could lead to Bitcoin prices reaching towards that target.