Bitcoin Soars Above $85K as Technical Projections Eye $97K Upside
The Bitcoin price has surged roughly 44% in the third quarter, climbing from around $58,500 to above $85,000. This powerful recovery has led some technical projections to identify a possible upside target of $97,000 if momentum survives resistance around $90,000.
BTC recently reached approximately $87,359, its strongest level in eight months, and now trades near $85,700 after reaching above $87,000 intraday. Holding the $85,000 area would preserve the breakout and keep $90,000 in focus, potentially supporting technical extensions toward $93,000 and $97,000.
The bullish structure is supported by ETF inflows, institutional treasury purchases, and a short squeeze that removed hundreds of millions of dollars in bearish positions. Falling oil prices have also reduced some inflation pressure and improved demand for risk assets.