Summary:
Bitcoin recently surged to $98,323 as traders focus on key technical levels.
Price stabilized between $96,000 and $98,000 after a 10.3% pullback.
Key resistance at $109,356 and support at $89,164; holding above $96,000 could signal a bullish reversal.
Elon Musk proposes a $5,000 refund for U.S. taxpayers funded by DOGE savings.
The ‘DOGE Dividend’ aims to redistribute 20% of projected savings by 2026.
Bitcoin Price Analysis: Short-term bulls eye breakout above $98,800 to fuel rally towards $100,000
Bitcoin has recently surged, reaching prices between $97,973 and $98,323 as traders focus on critical technical levels while evaluating macroeconomic and inflation signals.
The price has stabilized in a range of $96,000 to $98,000 following a 10.3% pullback from its all-time high on January 20, 2025. Currently, we are in a correction phase with key resistance set at $109,356 and support at $89,164.
Maintaining above $96,000 could indicate a bullish reversal, targeting $102,000–$105,000. Conversely, a drop below $94,000 might lead to a retest of $90,000. Traders are closely monitoring this range to assess directional momentum.
Elon Musk’s DOGE Could Soon Refund $5,000 to All US Taxpayers; Will the Markets React?
In other news, Elon Musk, the head of DOGE, mentioned on X (formerly Twitter) his intention to discuss with President Donald Trump a proposal that could see a $5,000 refund check issued to U.S. taxpayers, funded by savings from his Department of Government Efficiency (DOGE).
This initiative, known as the ‘DOGE Dividend,’ was initially proposed by James Fishback, CEO of Azoria Investment Firm, and aims to redistribute 20% of DOGE’s projected savings by 2026 to taxpaying households.
Comments