Bitcoin Poised for Breakout as US Demand and Technicals Align

Bitcoin's price compression has been broken, and the cryptocurrency is showing signs of recovery. After five weeks of trading in an increasingly narrow range, Bitcoin is poised for a strong directional move. One encouraging signal comes from US demand, with inflows into spot Bitcoin ETFs regaining momentum.

The technical setup remains constructive, with weekly candles printing shorter lower wicks, indicating that sellers are running out of steam. A decisive close above $95,500 on the weekly chart would open the door to the major resistance at $98,000 and potentially even the psychological threshold of $100,000.

However, macroeconomic factors remain a risk factor that cannot be ignored. The 10-year US Treasury yield remains under pressure, and a move back above 4.6-4.7% would reinforce risk aversion and weigh on speculative assets like Bitcoin.