Bitcoin’s price is surging towards potential new highs, with analysts citing a robust structural trend and strong DeFi activity as drivers of this upward movement. The cryptocurrency currently sits near $95,708, with its market cap reaching $1.988 trillion according to data from DeFiLlama. A series of rising waves on the broader chart indicate a bullish outlook, forming higher lows and showing recurring consolidation zones. 2023 saw the trend begin its upward climb, accelerating in early 2025. A short-term pullback occurred around mid-2025 before the market continued to see steady growth. Analysts highlight key support lines as well as indicators of healthy network activity and trading activity. 2024’s trends continue to show a growing upward momentum, with buyers responding at key zones, fueling a move along an upward channel on shorter timeframes.