Bitcoin’s Future: Analyzing Potential Trajectory After Surpassing $97k Barrier

Crypto analysts anticipate Bitcoin’s (BTC) next move following its recent surge past a significant resistance level, hinting at three possible scenarios for the future of this dominant cryptocurrency. While bullish momentum suggests continued upward movement, a deeper pullback is unlikely due to a prior correction. 5 May saw Bitcoin close at $97,406, exceeding previous resistance points and fueling the argument for an uptrend. This surge comes with potential downsides; however, currently, BTC’s price sits above the Short-Term Holder (STH) realized price, indicating unrealized profits. 22 April marked a significant shift in this metric as it moved 155-day-old BTC from an underwater position to an unrealized profit state.